5 Reasons You Need a Lawyer for Bankruptcy

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Some people view bankruptcy as the end, but you should view it as a new beginning. When debt becomes unmanageable, contacting a lawyer for bankruptcy is important. A bankruptcy lawyer can help you compare your options and find out if you qualify for this type of relief.

Many people who delve into the benefits of bankruptcy wonder if they actually need a lawyer. After all, if you are pursuing this option due to financial stress, the cost of hiring a lawyer could seem unnecessary. There are several reasons that hiring an attorney can actually minimize your stress, expenses, and time spent on this process.

Reason #1: Proper Paperwork and Deadlines

People who file bankruptcy for the first time may be shocked by how much legal paperwork bankruptcy requires. Be prepared to fill out the same information in different ways many times before your discharge is granted.

Each of these documents has slightly different rules, not to mention its own deadline. For someone with a family, job or other obligations, it is easy to fall behind on paperwork and miss important deadlines. An attorney keeps you on track.

Reason #2: Save Money During Bankruptcy

For many people, hiring a lawyer for bankruptcy actually saves them money during the bankruptcy process. If you file on your own, you may pay more for incorrect paperwork, late fees, copying fees and notary expenses. This is clear when you consider how much time you may spend on a bankruptcy case, compared to an attorney who has mastered the process.

Reason #3: Understand Your Obligations

Depending on your financial details, you may get to keep all your assets. On the other hand, you may have to sell property to pay down your debt. These calculations are complex and can be difficult for a regular person to navigate.

Your attorney can explain what assets you get to keep and what assets you may have to surrender. In addition, a lawyer for bankruptcy can explain other obligations you may have during and after the bankruptcy process.

Reason #4: Avoid Unintentional Fraud

Your bankruptcy case will be overseen by a trustee. The role of the trustee is to prevent fraud. Even if you file bankruptcy documents to the best of your abilities and with good intentions, it is still possible to commit fraud.

The consequences of fraud are severe. Consequences may range from fines and probation to prison sentences. You can trust your attorney to go over your paperwork in great detail to avoid any misrepresentations.

Reason #5: Consider Alternatives to Bankruptcy

Perhaps bankruptcy is not the best option for you. Our Monmouth County bankruptcy lawyer can help you understand other potential solutions for you. Our goal is to help you save your credit, save money and avoid the negative effects of bankruptcy.

When you attend an initial consultation with our attorney, we can take a thorough look at your situation. Then, we can give you straightforward advice about potential alternatives to bankruptcy.

Discuss Your Options With Our Monmouth County Bankruptcy Lawyer

If you are considering bankruptcy as a fresh financial start, contact Garland & Mason, L.L.C. in Manalapan County. Our testimonials highlight our attention to detail and our focus on client satisfaction.

We are ready to look at your situation, discuss your options and help you make a plan. Call us at (732) 358-2028 to schedule your free initial consultation.

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