Whether a person loses a home or job or they are behind on a mortgage or medical bills, bankruptcy can be better than doing nothing or trying to handle the process alone. While bankruptcy has many advantages, it can be complex, and filers should consider hiring an attorney before making any major decisions. Read on to learn why a filer should hire legal representation before requesting bankruptcy protection.
Saving Time and Money by Acting Immediately
Clients can avoid bankruptcy with certain alternatives. However, this article is not about creditor negotiations; it is about getting a fresh financial start. Sometimes, doing nothing works out, but in most cases, the drawbacks are substantial. A person who does nothing can lose almost everything they own, but hiring Business Name can help the client save money and time.
Preventing Foreclosure
Most people do not know that, if they delay bankruptcy, they may lose their home. Those who are seriously behind on mortgage payments should talk to a local attorney. Chapter 7 will absolve the filer of the debt, but the trustee will likely sell the home to repay it. Chapter 13 is a viable alternative, and an experienced attorney can help a person navigate the legal process and save their home.
Before Chapter 13
Before filing for bankruptcy, a person should consider all their options. Chapter 13 is not the right choice for everyone. While it can save a client’s home and other assets from foreclosure, it does have certain drawbacks. Bankruptcy Attorneys in Topeka KS can help a person save all their assets if they are hired before the situation gets too serious, and they can help the client work within the law.
When Chapter 7 Works
Chapter 7 also has certain advantages. Before a filing, the client should learn about exemptions and other rules. While some property can be kept, other types are vulnerable. A local bankruptcy lawyer can explain how a person can eliminate more debt and keep more of their property.
An Attorney Can Provide Greater Peace of Mind
It may not seem important, but reassurance is one of the greatest benefits of hiring a bankruptcy attorney. Clients can handle the entire process alone but, in most cases, Attorneys in Topeka KS save the person frustration, money, and time.
