How A Debt Settlement Attorney Can Save You From A Lot Of Frustration In The Bankruptcy Process

How A Debt Settlement Attorney Can Save You From A Lot Of Frustration In The Bankruptcy Process

In this day and age, many people are facing financial hardships. From job loss to health crises, it’s easier than you think to end up in dire financial straits. In these types of situations, getting help from a Debt Settlement Attorney is key. Consider the following reasons why you may want to talk to a lawyer before deciding on your next steps:

1. Unfortunately, bankruptcy isn’t always a straightforward process. To start, you’ll have to make a decision about which type of bankruptcy is right for you. Once you do that, you’ll need to know whether or not you qualify to file that specific petition. Those who want to file for Chapter 7 will have to pass a means test to make sure that their income is low enough, while a Chapter 13 petition requires you to prove that you can pay back your debt in accordance with a repayment plan. Having an attorney with you throughout the process means that you’ll not only get sound advice on the best type of bankruptcy for your debt relief needs, but you’ll also avoid wasting time with petitions that you won’t qualify for.

2. Many consumers are surprised to find out that filing for bankruptcy often isn’t where their financial problems end. Depending on the type of bankruptcy you file, your creditors may ask you to sign a reaffirmation agreement where you consent to take on the original contract after the bankruptcy and pay back your debt according to the original terms. While this may be a good idea for some people who want to have liens removed from their property that a bankruptcy can’t get rid of, there are cases in which it wouldn’t be a good idea to sign one. Your attorney will be able to assess the big picture of your financial situation so that they can let you know when reaffirmation agreements may be worth it and when they would be a detriment to your finances.

While it is certainly possible to file a bankruptcy petition without a Debt Settlement Attorney, talking to one can definitely help you make better financial decisions. Instead of wondering whether you are making the right decision, pick up the phone and call James E. Hitchcock. His years of experience will go right to work on your behalf, making sure that every step you take leads you down the path to the financial freedom you seek.

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