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The Advantages of Having a Bankruptcy Lawyer by Your Side

— May 18, 2022

The bankruptcy lawyer can accurately evaluate your financial situation.

Financial challenges can impact your personal life! The debt collectors will try to connect to you by all means. And this ongoing contact, along with the self-generated stress associated with debt, can affect your health and family stability. 

Several people are caught up in this battle. But you might feel that you are all alone. Hence, you must take the crucial steps to reduce your debts. For this, you might need the help of a bankruptcy attorney. To know more about it, you can check out Lincoln-Goldfinch Law. 

The advantages of getting connected with a bankruptcy attorney

  • Guidance through the legal process

The bankruptcy attorney can ensure that they will make it possible for you to manage the debt settlement process correctly. A lawyer with the correct know-how will be familiar with bankruptcy and debt and can help you to navigate the process better. The lawyer will provide an intelligent solution for the issue to resolve all legal challenges. 

  • You will have an assessment of the financial situation

The bankruptcy lawyer can accurately evaluate your financial situation. An expert lawyer will spend their time assessing the current financial status and suggesting the best action plan to you. If you wish to file, you will get a total overview of the rights and responsibilities. 

  • It enables you to save your assets and property.

You can keep all that you choose. In case you want to pay off the creditors, you can liquidate a few assets or properties in the Chapter 7 bankruptcy, however not all. You can secure the possessions well in case you file your papers correctly. Therefore, when there isn’t any bankruptcy attorney to help you, it might become challenging to retain the home and other assets. 

  • The attorney can help bargain with creditors in your place

The creditors often refuse to negotiate with the debtors. However, the lawyers can manage this situation to convince the creditors to settle the debt. You need to know that the creditors can co-operate better when you get represented by a lawyer. Also, the lawyer will also come up with a repayment strategy based on the financial position. And to settle the debt, all the lawyers can resort to legal processes. 

  • You can opt-in for meticulous paperwork

When filing for Chapter 7, you need to add a professionally crafted bankruptcy petition and dozens of assisting documents. The bankruptcy court might also delay the case and can dismiss it in case of a minor mistake. However, this won’t occur when you have an expert bankruptcy lawyer by your side. A bankruptcy lawyer can enable you to avert intimidating collection calls.

When you have a lawyer representing you, all the creditors will get more cautious concerning the collection call. Your lawyer will update you about the FTC guidelines for managing the collection calls. Furthermore, the lawyers can compel the creditors or the representatives not to communicate if they share a certified letter. Hence, the bankruptcy attorney can function as the middleman between the debtor and the creditor. 

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