Choosing the Type of Bankruptcy
One of the main ways a lawyer can help is when choosing which chapter of bankruptcy to file. They can help assess your financial situation and the type of filing that is best for you.
Filling Out the Paperwork
Bankruptcy involves a lot of forms and paperwork detailing your assets, debts, and other aspects of your financial situation. It can be tricky to get this done correctly on your own. This is especially true because this can help determine which assets you are allowed to keep. If you mess up on the paperwork, you could end up losing some of your belongings. An attorney is a great way to help protect your assets as well as save yourself a lot of work.
Erasing Debt
The one thing an attorney can’t do is wave a magic wand and erase all of your debt. There are certain types of debts that cannot be discharged. And, if you file a Chapter 13 bankruptcy, your debts will be rearranged into payment plans.
Hiring a Bankruptcy Attorney
While they may not be able to instantly free you of debt, a bankruptcy attorney can help you avoid common mistakes, and help guide you to the best possible outcome.