What Does a Bankruptcy Lawyer Do? 3 Signs You Need One
Finding the right bankruptcy lawyer should be your first step in the bankruptcy process. The right attorney will help you understand everything you need to know about filing for bankruptcy.
Chances are that the idea of a talking to an attorney is a bit overwhelming. That’s understandable. If you’re already dealing with incredible levels of debt and financial stress, having to meet with a stranger to talk about your intimate financial details can be frustrating. It’s important to keep in mind, however, that a bankruptcy attorney doesn’t want to judge you. They want to help you move forward and start living your life.
If you’ve been considering bankruptcy, but you aren’t sure whether you’re really ready, it’s important to talk with an attorney who can guide you. Your bankruptcy lawyer will explain your options, as well as the pros and cons of bankruptcy. Here’s how you can tell you’re ready to meet with a lawyer.
- You have outstanding medical debt you can’t pay.
One of the most common reasons that adults consider filing for bankruptcy is having medical debt they can’t pay. If you’ve been facing medical debt that’s currently overwhelming you, it may be time to talk with an attorney about your options for repayment or filing. Remember that not everyone who meets with a bankruptcy attorney ends up filing. Your lawyer may be able to present other options that could benefit you.
- Your credit cards are maxed out.
No one wants to feel like they’re drowning in debt, but this does happen sometimes. If you feel overwhelmed, anxious, and don’t believe you can pay your credit card bills, it’s time to talk to an attorney.
Your lawyer will:
- Analyze your debt
- Discuss your options with you
- Explain your choices
- Offer you insight and advice
- Guide you through any necessary paperwork
- You have assets you want to protect.
There are different types of bankruptcy available to you. The type that you file for will largely depend on your personal financial situation, as well as whether or not you currently have assets that you would like to protect. Your attorney will be able to advise you as to whether filing for bankruptcy means you’ll be able to keep your car and home.
According to debt.org most people who file for bankruptcy benefit from having a lawyer assist them. This is because your attorney is intimately familiar with the bankruptcy laws in your state. They’ll be able to carefully analyze your financial situation and offer additional insight as to whether bankruptcy is the right choice for you.
In addition to answering your questions about filing for bankruptcy, your attorney will also help you with the paperwork. Legal paperwork can be quite daunting and overwhelming even when you aren’t dealing with personal stress, so having someone guide you can be incredibly beneficial. Keep in mind that paperwork may be rejected if it’s incomplete, so your lawyer can help ensure you’ve enclosed all of the appropriate documents when you file.
If you’re ready to speak with a bankruptcy lawyer, don’t wait. The right attorney will go above and beyond when it comes to helping you understand your rights and options in filing bankruptcy. More importantly, your attorney will help you understand each of the steps you need to take in order to file for bankruptcy and to start moving forward with your life.