If you are even considering filing for bankruptcy, there is a good chance that your financial situation is rather bleak at the moment. As a result, you may think that you cannot afford to hire a bankruptcy attorney to represent you. However, the truth is, you really cannot afford not to hire an attorney. Keep reading to learn more about three of the reasons why you should retain the services of a bankruptcy attorney despite your current financial troubles.
Choosing The Wrong Type Of Debt Relief Can Be Costly
Bankruptcy will not be the best debt relief option for everyone. For some people using a different option such as a debt consolidation loan may prove more beneficial. If you fail to choose the best option for your situation, you could find yourself even further in debt or facing long-term issues with your credit score. That is why you can count on a reputable bankruptcy attorney to help you explore all of your possible options and to only recommend moving forward with bankruptcy if it is in your financial best interest.
Be Sure Your Assets Are Protected
There are many personal assets that can play an important role in your day-to-day life. For instance, you likely count on having a vehicle in order to get back and forth to work each day. Having a stable home, access to tools of your trade, and personal items such as clothing can also be very important. That is why the bankruptcy system provides limited protection for these types of assets. However, ensuring that your most important assets are protected will require a good understanding of asset protection laws. Your bankruptcy attorney can help you to determine exactly which of your assets will be protected and which will not before you decide whether or not to move forward with your bankruptcy case.
Don't Miss Out On Debt Relief Because Of A Mistake
Until your bankruptcy case has been finalized by the court, there is simply no guarantee that you will ultimately get the debt relief you are looking for even if you qualify for bankruptcy. This is because even a small mistake in documentation or court reporting can result in your case being dismissed. You will then need to wait several months or longer before you can even apply for this debt relief again. Hiring a bankruptcy attorney will help to ensure that no mistakes are made in pursuing your case so that you can get the financial fresh start that you need.
