Getting into debt is easy, but getting out of it is anything but stress-free. In some cases, it feels impossible. In desperate times like these, the federal government has made bankruptcy programs available to help people get rid of their debt and get a fresh start in life. While a bankruptcy lawyer is not required in order to file, there are a few reasons why no debtor should move forward in the process without one. Here’s why going it alone in the bankruptcy process just isn’t a good option for most people:
* Figuring out which type of bankruptcy application to file is about more than just deciding which terms are more appealing. Many debtors don’t know that chapter 7 and chapter 13 bankruptcy each have their own separate qualification process. Chapter 7 bankruptcy requires a means test to ensure that income is low enough, while those who file for chapter 13 must have enough income to honor their debt repayment plan.
* A bankruptcy attorney in Huntersville, NC will look at a debtor’s unique situation and help them determine which application is best for them to file.
* Simply put, bankruptcy applications are complex. Not only is there a lot of paperwork, but completing it can be confusing and overwhelming since there are a lot of legal terms involved. Debtors need to realize that even one small mistake can mean that their petition is denied and puts their bankruptcy process in jeopardy. Having help from an attorney ensures accuracy during the process, and minimizing mistakes makes success much more likely.
* Some people filing for bankruptcy will have additional advantages available to them such as stripping away additional mortgages on their home or cramming down a car loan. Unfortunately, not many debtors will find out about these options on their own, and those who do will likely need a bankruptcy attorney in Huntersville, NC to show them how they work and allow them to have the best chance of being approved.
Bankruptcy provides a viable way for people who are overwhelmed with financial commitments to get much-needed assistance. However, this is only the case when things are done right, and hiring a bankruptcy lawyer helps to ensure that goal is achieved. For those who would like to get back on track with their finances, visit domain URL to find out more about how a bankruptcy attorney can help debtors find a better path to financial peace.
