It is never a good idea to handle something as complicated as bankruptcy suits without a lawyer. The laws surrounding this matter are not only complicated, but the procedures and formalities involved are enough to drive anyone crazy. When you’re already stressed by your finances, it’s best if a professional were left to deal with your legal issues.
This article will examine the reasons why you should hire a bankruptcy lawyer and will do so in some detail. The objective is to convince you to not make the situation worse for yourself and have a professional help you. So without further ado, let’s go!
THE LAWS ARE COMPLICATED
As mentioned above, bankruptcy laws are very complicated and the procedures and formalities surrounding those laws are just as complicated and onerous. Also, Georgia’s laws and procedures for bankruptcy are subject to change quite frequently and staying up to date for the layman is not a possibility. An experienced Atlanta bankruptcy attorney will have the requisite knowledge and ready access to changes in the law. As such, they will know the laws, procedures, and filing processes with better proficiency.
MISTAKES CAN BE VERY COSTLY
When you’re filing for bankruptcy, you need to list your assets. If you incorrectly list assets it can be very costly as you’ll end up losing your assets. A bankruptcy attorney will know what to write and how to write it on your bankruptcy petition to ensure your assets are adequately protected.
The same applies to other formalities of the process as well. One incorrect filing or appearance can end up costing you everything.
YOU’LL STOP CREDITORS FROM HARASSING YOU
When you hire an attorney, your creditors will be legally obligated to not call you repeatedly and harass you to pay your outstanding credit. Your lawyer will be dealing with all concerned parties and in a manner that will ensure that communications remain civil and professional throughout the entire process.
YOU WON’T BE ABLE TO JUDGE WHAT TYPE OF BANKRUPTCY TO FILE FOR
There are different requirements one must satisfy to qualify for different types of bankruptcy filings. A bankruptcy lawyer is better suited to assess your situation and will be able to give a professional opinion on how you qualify.
A range of factors is taken into account including assets, loans, credit rating, number of dependents, etc. A lawyer can also judge which bankruptcy filing will write off your loans. As you will see below, one mistake can end up having legal ramifications. So it’s better if the task is left to a professional.
RAMIFICATIONS OF INCORRECT FILINGS
If you file incorrectly, the court could end up throwing out your case completely and bar you from applying for bankruptcy again in the future. In some serious situations,, allegations and charges of fraud can also come up if you incorrectly list assets.
Bankruptcy lawyers are trained for this very purpose and with your lawyer handling your application, you have an added level of protection in case a mistake is made. The responsibility will fall on your lawyer rather than you.
