Why You Should Hire a Local Bankruptcy Attorney
Written by Robert DeMarco
The bankruptcy process is complicated, and if you’re considering filing, it’s essential to know your rights. A local bankruptcy lawyer can help you understand the process and answer any questions that come up along the way. They also have experience with all aspects of the law and will provide a more personal service than an out-of-state firm would offer. Read on for some reasons why hiring a local attorney may be right for you.
Assists You In Deciding On The Best Sort Of Bankruptcy.
You may not know what type of bankruptcy is right for you, and Chapter 7 Bankruptcy offers an easy way out if your financial situation qualifies. At the same time, Chapter 13 Bankruptcy requires more commitment and time to file successfully in most cases with lower monthly incomes than chapter 7 eligibility requirements allow.
The decision of whether or not the quickest route would be best depends on how long it will take you to:
(i) pay off debts;
(ii) keep up payments after discharge from court supervision.
All within my available funds each month without working additional jobs because, let’s face it: no one has enough money!
Assist You In Applying For The Means Test
The means test determines whether you will qualify for Chapter 7 or 13 bankruptcy or not. An attorney can help you recognize the tricks to pass this problematic examination that many individuals have trouble passing on their own, even with guidance from friends and family members! For instance, an attorney may suggest purchasing health insurance as part of your overall financial strategy to lower-income so much more quickly, making it easier than ever before to file under chapter seven without too much hassle.
Helps You File Your Case
The paperwork required to file bankruptcy is extensive and complicated for anyone not familiar with the process. That’s where a local bankruptcy lawyer comes in! They will lead you from start to finish on your case so that it can be filed without any hitches or complications. An attorney has experience with the process and can guide you through the requirements.
Filing for bankruptcy can be a highly complex process. You have to fill out all sorts of paperwork explicitly tailored to your needs and finances, which might not make sense if you’re in any hurry because there will always be more questions than answers! A reasonable bankruptcy attorney knows exactly what information needs to be disclosed during the filing stages and how to calculate assets or income at each location. So, they’ll know where their clients’ strengths lie before calculating an amount based on those factors rather than just guessing numbers blindly as other attorneys do with no experience whatsoever dealing solely only legal issues such as bankruptcy.
Assist You In Determining The Appropriate Value Of Your Assets.
What is the exact value of your car or your house? How do you know if it’s worth anything or just sitting around taking up space? You could consult a lawyer, who will determine what assets are fair market using standards set out in law and ensure that all information used during proceedings comes directly from you! This helps to protect you from mistakenly or purposely giving away personal information that they could potentially use against you on the stand! They’ll also tell you what assets are worth more than others on average, so there’s no guesswork involved at all.
Assist You In Exploring Your Options
In case you have assets worth a lot of money, federal and state exemption laws can protect them from being taken away in bankruptcy. A bankruptcy lawyer who knows about these laws will help take advantage, so your assets stay with you while going through chapter 7 or 13 debt relief proceedings! For instance, if your house is worth a lot of money – which you might not know without consulting an expert in this field! – hiring an attorney can help you protect it from being purchased by the bank or the bank’s creditors.
Safeguard You From Undue Harassment
Debt collectors are required to abide by state and federal laws when collecting cash. However, people unfamiliar with the law tend to make mistakes that leave them open for lawsuits. Make sure you do not lose your home or other assets because of a bankruptcy lawyer’s expertise in this matter and attempts to work with bankruptcy attorneys on behalf of the bank’s creditors under chapter 13!
A local bankruptcy lawyer can offer you a helping hand in obtaining financial freedom from debt by filing chapter 7 or 13 bankruptcy. They’re affordable and professional enough to know all of your rights and devise a plan that gets you the best financial results with the least amount of stress possible!
Assist You In Negotiating A Reaffirmation Agreement
When you file for bankruptcy, it is important to know how your property will be protected. If the case involves a home or car, and both of those matters were reaffirmed in Chapter 7 (characterized by having only one secured creditor), then that means they need their money back from all other creditors with interest. However, suppose multiple creditors want repayment plans on different properties. In that case, we can negotiate which ones get paid first based on what’s worth more and payments over time so everyone gets some form of return even though not everything may have been appropriately saved during filing!
In a Chapter 13 bankruptcy, your attorney will help you work out a repayment plan that is best for both yourself and all of the creditors. He or she can determine what interest rates to use based on how much money they’re taking from each creditor to get them paid back as soon as possible with no further delays!
A local bankruptcy lawyer will help you learn all aspects of the law so you can make decisions for your future without worrying about losing everything you own.
Protects During Automatic Stay Violation
Debt collectors are not allowed to call you after bankruptcy unless specifically authorized by law. They will still try, even if notified of the filing and maybe potentially violating an automatic stay or injunction that comes with liquidation proceedings in court-ordered repayment plans like Chapter 13 bankruptcies. If this were happening on your behalf, then it would go through attorney intervention to help advise about how best to navigate these situations, which could result in fines against those who violate them for doing so without authority.
Your attorney will help you understand the bankruptcy trustee and judge. Your guide through each step of this process so that it’s easy for you to avoid any costly mistakes in court-mandated procedures while providing peace of mind when needed most!
When you need an affordable attorney, explore the bankruptcy marketplace online. You can find local lawyers that fit your budget within just a few clicks! All it takes is submitting some case details and information about yourself- so all on this one page are vetted attorneys ready for viewing without leaving any time or money up to chance.
Bankruptcy Lawyers in Plano, Texas
When you need a bankruptcy lawyer, it’s essential to hire one that is experienced and qualified. If your family or business has been struggling financially for some time now, DeMarco Mitchell PLLC in Plano, TX, may be the law firm you are looking for. Our team of bankruptcy attorneys will work with you from start to finish so that we can help relieve your financial burdens by filing Chapter 7 or 13 bankruptcy on your behalf. Give us a call today at (972) 578-1400 and schedule an appointment if this sounds like something you might want to explore further!
Related Articles
Related
Chapter 7 Attorney: A Guide to Navigating Bankruptcy and Choosing the Right Legal Representation
Chapter 7 Attorney: A Guide to Navigating Bankruptcy and Choosing the Right Legal Representation Are you considering filing for Chapter 7 bankruptcy? Navigating through the complexities of bankruptcy law can be overwhelming, but with the help of a knowledgeable...
Navigating Chapter 7 Bankruptcy in Texas: Key Roles of a Texas Bankruptcy Lawyer and When to Consult One
Navigating Chapter 7 Bankruptcy in Texas: Key Roles of a Texas Bankruptcy Lawyer and When to Consult One Are you grappling with overwhelming debts and contemplating bankruptcy as a possible way out? Are you unsure about the proceedings and when to take that pivotal...
Understanding the Different Types of Bankruptcy for Individuals in Texas
Understanding the Different Types of Bankruptcy for Individuals in Texas If you're struggling with debt and considering bankruptcy as a solution, it's essential to understand the different types of bankruptcy available for individuals in Texas. At DeMarco Mitchell,...