Having to file for bankruptcy is never an easy decision for a debtor to make. When a person finds themselves in over their head in debt, it can be a scary thing. Although many people understand vaguely what bankruptcy can do for them, not everyone knows what to expect from the process. For that reason, it’s better that those who plan to file any type of bankruptcy petition talk with an attorney before moving forward with the idea. For those who are wondering why this is the case, here is an overview of how having an attorney present throughout this process can be beneficial:
1. Most people who have considered the idea of filing for bankruptcy understand that there are multiple types of petitions that can be filed. However, not everyone realizes that each type of bankruptcy requires a qualification process. If a person plans to file for Chapter 13, the court expects them to have the necessary income for the required debt repayment plan. If someone wants to file for Chapter 7, there is a means test to make sure that their income is low enough to qualify. For this reason, consulting a Bankruptcy Lawyer in Huntersville NC who can evaluate a debtor’s specific financial situation is important for those who want to avoid wasting time filing a petition for which they do not qualify.
2. Simply stated, the bankruptcy courts can be unforgiving when it comes to making even the slightest mistakes on official bankruptcy documents. Something that a consumer sees as a small error could result in significant delays in application approval and possibly even a total denial of the petition. In addition, failure to take important actions like completing an approved credit counseling class or properly notifying creditors can also put the case in jeopardy. A Bankruptcy Lawyer in Huntersville NC will ensure that debtors don’t make missteps in the bankruptcy process so that they can finally achieve the financial relief and stability they’ve been seeking.
Filing for bankruptcy doesn’t have to be confusing or stressful when a consumer has an experienced attorney on their side who can guide them carefully through the process. Contact the team at Lake Law PLLC to learn more about how overwhelmed consumers can find the debt relief they’re looking for with the help of someone who knows how to help them get back on the right financial track.
