If you're considering bankruptcy and are looking for a lawyer just because everyone said you needed one, you may have already seen that hiring a bankruptcy lawyer will cost you money. If you're on the verge of bankruptcy, that doesn't sound like pleasant news. In fact, you might wonder if it's better not to hire one so you can save that money. But hiring a bankruptcy lawyer is a crucial part of successfully filing for bankruptcy. Without the help of a lawyer, you could have a horrible time filing—and you could end up being denied completely.
To Combat All the Myths
First, there are so many myths that surround filing for bankruptcy. Which type do you qualify for? Will you lose all your cash? Will you lose your home or apartment lease? The questions and misinformation continue. However, working with a lawyer helps you avoid falling into traps where you believe one or more of these myths and end up getting a rather raw deal should your bankruptcy filing be approved.
To Meet All Deadlines
Filing bankruptcy is more than filling out a form and appearing in court. You have inventories, credit counseling, court dates, notifications, and much more. It is very easy to forget something and miss a deadline that could tank your application. Bankruptcy lawyer fees are generally one-and-done; you pay a fee for a package deal filled with help. You'll find out what exactly you need to do and when you need to do it by, ensuring you file everything on time.
To Help You Avoid Common Mistakes
The inventory part of filing for bankruptcy can be confusing because you'll have questions about what to inventory, how to list items (e.g., do you list each book you have separately or just write "books"), what value to base the estimated price on, and so on. The lawyer can explain all of that to you and guide you through each step. If you try to rely on Google searches for answers, you'll get a range of suggestions that could turn out to be incorrect.
To Help You Get Approved
You have a much better chance of being approved for your bankruptcy filing if you have a lawyer on your side. That's mainly because of the previous three reasons listed here; if you make no mistakes, meet all deadlines, and file correctly, then of course you'll have a much better chance of approval. But doing all of those correctly relies on having someone lead you through the process, and that someone is a bankruptcy lawyer. Don't give up looking and decide to attempt filing by yourself. Always hire a lawyer if you're facing bankruptcy.
Contact a local bankruptcy lawyer for more information.