If you want to declare bankruptcy, you must file a bankruptcy petition in federal court. After filing the petition, your creditors will be notified about your decision and should stop contacting you to collect what you owe them. The bankruptcy court will request some information from you such as your total debt, your creditors, your total income, and ongoing expenses.
While you can represent yourself in court, it is best to hire a Benenati Law Firm lawyer who can advocate for you and help you navigate the bankruptcy process. Getting relief from your debts through discharge or reorganization can take a long time. A bankruptcy attorney knows the related timeline in your case.
What to Expect When You File for Bankruptcy
Apart from putting a stop to aggressive debt collection efforts, a bankruptcy filing can have benefits you must know. It gives you a new start to have a healthier financial future. Also, it lets you retain much of your possessions and assets. With bankruptcy protection, your creditors won’t be able to contact you and threaten to sue you if you don’t pay them.
Your bankruptcy attorney will help you understand when and how the automatic stay takes effect and what to expect when your creditors continue to chase you over outstanding debts.
Why Hire an Attorney
As bankruptcy laws constantly change and legal paperwork becomes even more complex than ever, filing for bankruptcy can be daunting. Making a mistake on official forms can result in the denial of your petition. When this happens, you won’t be able to file the same petition for a certain period.
A bankruptcy lawyer can prevent you from making costly mistakes. They can guide you through each step of the bankruptcy process and fill out the necessary paperwork on your behalf.
As you communicate with different parties including creditors, the court, and the trustee supervising your bankruptcy petition, there’s a lot depending on every action you take. Knowing the steps to take can be overwhelming. However, an attorney can help you take each action calmly at the right time. They will explain the way the bankruptcy court weighs every kind of debt. Also, they will clarify the dischargeable debts depending on your chosen bankruptcy chapter.
For a lot of those who are planning to file for bankruptcy, a significant advantage of working with an attorney is the peace of mind they enjoy. This comes from knowing that every step is met and they will have an effective and error-free financial start.
Parker shown is a full time blogger and can be contacted at parkershown99@gmail.com
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