Choosing A Bankruptcy Lawyer When Filing Bankruptcy
Choosing A Bankruptcy Lawyer When Filing Bankruptcy
Choosing an lawyer when filing bankruptcy is a decision that should be made carefully. It’s important that you feel comfortable with your attorney, and that you receive legal advice from a qualified lawyer.
A bankruptcy lawyer can help you file the necessary paperwork in a timely manner. He or she can also help you determine whether or not you qualify for bankruptcy. There are several pros and cons to filing bankruptcy, and you should fully understand them before deciding to file.
The benefits of filing for bankruptcy include eliminating or reorganizing problematic debt, restoring credit, and protecting assets. The cons include losing some assets, causing a loss of income, and losing credit.
A bankruptcy attorney will look at your income, assets, and debts to determine if you qualify for bankruptcy. The attorney will also examine liens on property. If the property is worth more than the debt, you can keep it while you make payments.
You’ll need to list all of your assets, including real estate, automobiles, and other personal property. You’ll also need to list your income, including all of your expenses, as well as any other sources of income.
The attorney will likely want to see two years of tax returns and your most recent paystubs. He or she will also want to know about your credit card usage.
A bankruptcy lawyer can also help you determine which bankruptcy chapter is best for you. You might qualify for Chapter 7 or Chapter 13, depending on your circumstances. A Chapter 7 is a more straightforward process, but it won’t discharge all of your debts. You may still owe back child support, alimony, and income taxes that are more than three years past due. You will also have to pay a filing fee to the court.
When choosing an lawyer, you should look for one who can explain the benefits of filing for bankruptcy and help you decide if it’s right for you. A bankruptcy attorney can also advocate on your behalf during the bankruptcy court process, and help you to rebuild your credit.
The attorney may also recommend an alternative, non-bankruptcy option. In some cases, you can simply work with your creditors to settle your debts. However, if you have serious financial problems, a bankruptcy case may be your best option. It can help you to eliminate or reorganize your debts and get your life back on track. You may also be able to keep your home, car, and tools of your trade. You may even be able to keep your wages, up to a certain dollar amount.
If you need Bankruptcy Lawyer, please call this law firm for a free consultation.
Ascent Law LLC
8833 S Redwood Road Suite C
West Jordan UT 84088
(801) 676–5506
https://www.ascentlawfirm.com
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