Having too much debt and too little money to repay those debts can be an overwhelming situation to be in. Fortunately, the federal government has made bankruptcy options available to those who need help getting out of their financial holes. While hiring an attorney for assistance with the bankruptcy process is not a legal requirement, it’s important for debtors to know that they gain a considerable advantage when they have one on their side. Read on to discover three major benefits that a person gains when they hire a bankruptcy attorney.
* The bankruptcy courts require that debtors take a means test to determine which type of bankruptcy they are eligible for. Those with incomes on the lower end may qualify for chapter 7 unsecured debt elimination, while those with higher incomes may have to file for chapter 13 and create a debt repayment plan. A bankruptcy attorney in Keller, TX will help ensure that debtors don’t waste time and risk a denial filing for a type of bankruptcy for which they do not qualify.
* Bankruptcy can be complicated. Even the paperwork contains legal jargon and can be difficult for those without a legal background to understand. Unfortunately, the bankruptcy courts expect those who file for bankruptcy to submit flawless applications that are free of mistakes, because otherwise, debtors may have their applications denied. Because a bankruptcy attorney has gone through the process with hundreds of clients, they’ll know how to structure each client’s case so that they have the best chance of success.
* It’s the responsibility of a bankruptcy Attorney in Keller, TX to help a debtor experience maximum debt relief. An attorney will have the legal knowledge necessary to help debtors take advantage of opportunities for loan cramdowns, lien stripping on second or third mortgages, or even the recovery of garnished wages. Without an attorney’s help, many debtors won’t know about these opportunities or what is required for them to reap the benefits.
No one wants to find themselves in over their heads in debt; however, if they do, it’s vital that they get in contact with a bankruptcy attorney before they make any moves. For those who are in desperate need of debt relief, visit us to learn more about how working with an attorney can help debtors finally get their financial lives back on the right track.
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