Getting On The Right Side of FinancesGetting On The Right Side of Finances

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Getting On The Right Side of Finances

There aren't many things more intimidating than looking at a bank statement and realizing you don't have a dime to your name--despite your best efforts. I found myself in this precarious situation about a year ago, and I didn't know what to do next. I realized that if I didn't make some serious changes and fast, I would be in even more trouble with the law, so I started moving towards making some changes that would actually help. I met with a bankruptcy attorney, and we talked about how to wipe the slate clean. WIthin a few months, things were better. Read more about bankruptcy on my blog.



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4 Important Reasons To Get A Bankruptcy Lawyer For Your Case

Bankruptcy law is complex, which is why individuals who intend to file should consider the benefits of obtaining a lawyer. The processes involved in filing are stressful for some individuals. It can make some individuals depressed that they have to resort to filing. The following points highlight key reasons to obtain a bankruptcy lawyer rather than trying to file alone.

Avoid Fraud Allegations

There are many things that must be documented in bankruptcy cases. Individuals may get accused of fraud even if they make an unintentional mistake. There is information that must be provided such as listing all assets. If some are not documented, it could create a legal mishap individuals file on their own. Fraud accusations may result in individuals needing representation in criminal cases. If they get convicted, they could get incarcerated. Bankruptcy attorneys are familiar with the laws and can consult with their clients to ensure that pertinent information is accurate

Save Time 

Individuals who attempt to file for bankruptcy alone will need to study bankruptcy laws. Attorneys already are familiar with the laws, which means individuals who are filing can depend on them for handling their cases with speed. If there are errors in their filing documents, it could result in delays. Judges may also dismiss cases that are considered improperly filed. These delays may create more financial difficulties for individuals. The average individual does not have the skills needed to negotiate their cases for the most favorable outcome. This goes beyond the filing. Successful negotiations are something that bankruptcy representatives are trained to do. Many of them have represented clients' cases to the same judges and know how to respond to potential questions. 

Avoid Creditor Phone Calls 

It can be stressful to be inundated with phone calls from creditors for delinquent bills. Individuals who get bankruptcy lawyers can avoid the stress because their lawyers can speak to creditors on their behalf and stop the phone calls. Individuals who represent themselves do not have the convenience of telling their creditors to contact their lawyers. Lawyers can negotiate with creditors for a settlement or repayment, which is something they might not want to consider with a debtor.

Ensure Correct Bankruptcy Type is Chosen

There are different types of bankruptcies. Lawyers can assess their clients' financial situations to ensure that the correct bankruptcy is filed. Filing the wrong type can cause issues that may delay the case. It might also result in individuals having more costly cases.