3 Key Reasons To Consult With A Bankruptcy Attorney When Facing Crippling Debt

Posted on: 10 December 2018

Debt is something that can cripple you financially. It may be so bad that you're considering bankruptcy. If you've found yourself in this situation, be sure to consult with a bankruptcy attorney. They can help you tackle bankruptcy in the following ways. 

See If You're a Good Candidate 

Since filing for bankruptcy is permanent and will affect your financial future for the foreseeable future, it's important to talk with a bankruptcy attorney first. They can see whether or not you're a good candidate.

They'll thoroughly examine your financial situation, seeing if there's any way you can repay debt without filing for bankruptcy. What you thought was an irreversible situation may turn out to be fixable. If it's not, the attorney will break down the pros and cons of bankruptcy to help you make an informed decision.

Protect You From Creditors 

A huge dilemma you'll face when in a lot of debt is calls from creditors. They may call all throughout the day and send you into panic. If you're tired of these stressful calls, then you should immediately hire a bankruptcy attorney.

They'll take over communications with creditors trying to get back what you owe. If the creditors continue to harass you after you've filed for bankruptcy, your attorney can pursue legal action against them. Even just the threat of a lawsuit will force these creditors to cease contact -- giving you some time to breathe and think about what's next. 

Assist With Paperwork 

Since you've probably never had to file for bankruptcy before, this entire process may seem foreign. This makes filling out the paperwork quite a lengthy and stressful process. You won't have to worry when you get assistance from a bankruptcy attorney, however.

They'll gather all of the necessary forms that are required for the type of bankruptcy you're filing for, whether it's Chapter 7 or Chapter 13 bankruptcy. Once you fill these forms out, your attorney will go back over them to check for inaccuracies and missing information. Thanks to their attention to detail, your bankruptcy application will be submitted correctly the first time, and you can thus avoid costly delays.

Even though you may be dealing with a lot of debt, you do have options. Filing for bankruptcy may be the best thing to do if you have no way of turning things around. You can get through this process smoothly too by hiring a bankruptcy attorney from a firm like Phoenix Law. They're available to help you make the right decisions for your financial future.


The Journey to Success

Ever since I was in college, I’ve been extremely interested in business. I like to follow and study what famous individuals do well or do poorly in their businesses and how they fix their mistakes. Recently I've been following different individuals who've faced various bankruptcy issues. Thankfully, they learned from their many past business mistakes. If bankruptcy had not been an option for them, who knows where these corporate role models would be today and how their businesses would be doing. On this blog, I hope you will learn how a bankruptcy attorney can help you improve your current financial situation.

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