Before filing for chapter 7 bankruptcy, it's a good idea to hire a lawyer to represent you throughout the process. Here are just a few good reasons to do so:
Explore Other Options
You may think that chapter 7 bankruptcy is your only option, but an experienced bankruptcy attorney can explain all of your options and help you determine whether filing for chapter 7 bankruptcy is really your best option. They may be able to find other avenues you can take to get out of debt, such as selling off a portion of your business, liquidating some assets to make down payments on your debts, and negotiating repayment terms for the balance that you owe.
If filing for chapter 7 bankruptcy is in your best interest, you can count on your attorney to recommend it as your best option. When all is said and done, you should have complete peace of mind in knowing that you're making the right financial decisions for you and your family as you work your way out of debt.
Quickly Establish Eligibility
If you do decide to move ahead and file for chapter 7 bankruptcy, your lawyer can help ensure that you are eligible before you go through the trouble of filling out a bunch of paperwork and pushing it through the bankruptcy system. Some actions you may have taken in the recent past might disqualify you from being able to file for chapter 7 bankruptcy, such as having already filed for some type of bankruptcy relief.
You'll also have to pass a financial "means" test to determine whether you qualify for chapter 7 bankruptcy. Your bankruptcy lawyer will evaluate all aspects of your situation and help you determine whether you're eligible for chapter 7 bankruptcy; if not, they can help you determine what needs to be done, if anything, in order to become eligible.
Access Ongoing Legal Representation
If you have questions or concerns about your bankruptcy status after filing, or if you have further financial problems that need to be addressed in the future, you'll appreciate being able to contact a chapter 7 bankruptcy attorney who is familiar with your situation and financial means and can quickly and efficiently provide you with the support and guidance you need.
You won't have to worry about finding someone you trust to help you navigate the most important financial issues in your life, because you'll already have someone to rely on. Your lawyer can even help you take steps to ensure that you don't end up having to file for bankruptcy again at some point in the future after clearing up the debt you have now.Share