When you have an enormous amount of debt with little or no scope for repayment, you may have to think of bankruptcy. There is a certain negative ring to the word “bankruptcy”, but it is more of a social stigma for a lot of people. Let’s clear out one thing – Just because you have accumulated a considerable amount of debt does not mean that bankruptcy is your only option. In fact, it should be your last resort. Instead of figuring out everything on your own, you may want to consult a Charleston, WV bankruptcy attorney for your case. Here are five reasons to get a lawyer for your bankruptcy.
- Explain the options. Chapter 7 filings make up for almost 60% of bankruptcy cases in the country. However, everyone’s situation is unique. A lawyer can check your financial situation and determine if you would benefit from Chapter 7 or Chapter 13. This requires evaluating your assets and debts, but you can trust an expert to offer unbiased and sound advice.
- Dealing with the legal process. It is no secret that the process of filing for bankruptcy is a long one and requires experience and expertise. Many firms in Charleston have dedicated services for people facing bankruptcy and can help reduce the effort involved in the process. They will also ensure that the paperwork is done right.
- Help you deal with the creditors. Creditors and lenders cannot chase you for payments once you have filed for bankruptcy. Having said that, it is still necessary to discuss deals on key loads and debts to get the best possible relief. Bankruptcy lawyers have the proficiency and knowledge to negotiate better deals.
- Protect what you can. If you have been paying for your mortgage as per the schedule and can do so even after filing for bankruptcy, you could retain your home. Your lawyer can help you save some of the assets as you file for bankruptcy.
- Reduce your stress. Let’s not forget that bankruptcy is a long-drawn process that requires extensive work. Besides the paperwork, there are other things to be done, and at a time when your financial situation is a mess, you wouldn’t want to take the burden of managing other things. Let an attorney take over and deal with the key aspects as you focus on the future.
Check online for top bankruptcy lawyers in West Virginia now and ask for an appointment.