why have a lawyer for filing bankruptcy

Why You Need A Lawyer When Filing For Bankruptcy

• Navigating The Process. The process of going through bankruptcy is complex and stressful. The attorneys working at www.
• Avoiding Mistakes. Due to the complexity and stressfulness of filing for bankruptcy, mistakes are often made. Filing for...
• To Explain You The Different Types Of Bankruptcy. There are lots of different...

Full Answer

How much does a bankruptcy attorney cost?

• Submitting a list of creditors to the court and scheduling court appearances.
• Directing you on where and how to complete a required pre-bankruptcy credit counseling session and a post-bankruptcy debt management course.
• Submitting required fees when filing documents with the court.

How to find a good bankruptcy lawyer?

What Should You Ask a Fort Lauderdale Bankruptcy Lawyer?

• First impressions count. ...
• Once you’re in with the lawyer, are they listening to your situation and asking questions? ...
• Ask about their bankruptcy experience. ...
• How large is the lawyer’s law firm? ...
• How quickly do they return calls, emails or texts? ...
• How hands-on will the attorney be after the initial consultation? ...

More items...

Where is the cheapest bankruptcy lawyer?

“ Low Cost Bankruptcy+Quality!”

• Our prices usually please everyone.
• You can Pre-Qualify for Bankruptcy.
• Free Consultation.

What is the salary of a bankruptcy lawyer?

You also have to have accumulated a certain amount of experience in the field, including:

• Have been a full-time lawyer for at least 5 years
• Have spent at least 30 percent of hours, amounting to no less than 400 total, in the past three years in bankruptcy work
• Have participated in at least 30 adversarial contests in bankruptcy

Should you seek legal advice when filing for bankruptcy?

Individuals can file bankruptcy without an attorney, which is called filing pro se. However, seeking the advice of a qualified attorney is strongly recommended because bankruptcy has long-term financial and legal outcomes.

Why is it important not to file for bankruptcy?

Filing for bankruptcy can negatively impact your immediate financial future. Obtaining credit after filing for bankruptcy could mean increased interest rates. Obtaining credit after filing for bankruptcy might require security deposits.

Why do people get denied bankruptcy?

5 Reasons Your Bankruptcy Case Could Be Denied The debtor failed to attend credit counseling. Their income, expenses, and debt would allow for a Chapter 13 filing. The debtor attempted to defraud creditors or the bankruptcy court. A previous debt was discharged within the past eight years under Chapter 7.

Is it shameful to file bankruptcy?

Bankruptcy is a way of getting relief when you find yourself overwhelmed by debt. Unfortunately, in addition to being overwhelmed, many feel anxious and embarrassed about admitting that they need the type of debt relief bankruptcy provides. There is no reason to feel embarrassed about filing bankruptcy!

What debts are not discharged in bankruptcy?

The following debts are not discharged if a creditor objects during the case. Creditors must prove the debt fits one of these categories: Debts from fraud. Certain debts for luxury goods or services bought 90 days before filing.

What is one consequence of going into bankruptcy?

Bankruptcies are considered negative information on your credit report, and can affect how future lenders view you. Seeing a bankruptcy on your credit file may prompt creditors to decline extending you credit or to offer you higher interest rates and less favorable terms if they do decide to give you credit.

How do you hide money in a bankruptcy?

The following are several ways people attempt to hide assets in bankruptcy proceedings:Lying about owning assets.Transferring assets into another person's name or giving them to someone else to hold.Creating fake liens or mortgages to make the assets appear like they have no value.

Can a creditor refuse a bankruptcy?

About bankruptcy In a bankruptcy, people or companies ("debtor") who can no longer pay their debts give all of their non-exempt property to a Licensed Insolvency Trustee (LIT) who then sells it and distributes the money to creditors. Bankruptcy can be voluntary or forced by a creditor through the Courts.

How much do you have to be in debt to file Chapter 7?

Again, there's no minimum or maximum amount of unsecured debt required to file Chapter 7 bankruptcy. In fact, your amount of debt doesn't affect your eligibility at all. You can file as long as you pass the means test. One thing that does matter is when you incurred your unsecured debt.

What are the three types of bankruptcies?

With that in mind, below are details about three main bankruptcy types.Chapter 7 Bankruptcy. Chapter 7 is also referred to as a liquidation bankruptcy because it calls for most of the debtor's assets to be sold to pay creditors. ... Chapter 13 Bankruptcy. ... Chapter 11 Bankruptcy.

How can I get out of debt?

Strategies to get out of debtPay more than the minimum payment. Go through your budget and decide how much extra you can put toward your debt. ... Try the debt snowball. ... Refinance debt. ... Commit windfalls to debt. ... Settle for less than you owe. ... Re-examine your budget.

Chapter 7 vs. Chapter 13

While both options are created to help individuals solve their financial problems and manage debts, each variant has its pros and cons, and, of course, a lot depends on your specific circumstances, the nature of your debt, and your ultimate goals.

Why You Need a Lawyer

It’s no secret, creditors can’t wait for your slightest mistake, and it is so easy to overlook significant details if you do not have specific knowledge and expertise. There is a multitude of rules, regulations, and various procedures that you need to be familiar with, some of them can vary from state to state.

Bankruptcy Attorney in Richmond

Filing for bankruptcy is not only a stressful experience, but a complicated one as well. At Bruce W. White, P.C., we have the experience and legal understanding that is necessary to secure a favorable outcome.

About the Author

Aggressive Bankruptcy Attorney in Richmond Bruce W. White has been helping clients with solutions to their financial problems for over 30 years. He is experienced, skilled, and knowledgeable, and can handle your case from start to finish with the dignity and respect it deserves.

WHY DO I NEED AN ATTORNEY TO FILE BANKRUPTCY?

Bankruptcy is both a very complex area of law, and very broad area of law.

WHAT ABOUT CHEAPER ALTERNATIVES?

Non-attorneys and companies that sell forms often advertise to help people file bankruptcy cheaply by using free legal forms or online help.

What is bankruptcy law?

Bankruptcy law is a specialized area of law that requires the expertise and education of lawyers who are willing to deal with the various circumstances that can arise when a debtor is no longer able to pay debts or even make monthly payments on loans, credit cards, and other financial obligations.

Is filing for bankruptcy a big decision?

Filing for bankruptcy is a big decision, and you should make sure that you are prepared to handle it. Your attorney will help you understand the legal issues that arise from undergoing this process . They’ll also provide an expert explanation of bankruptcy law to help you determine what steps you should take to get your finances back on track.