The Benefits of Hiring a Bankruptcy Lawyer

Forth smith bankruptcy attorney

The court of law is a place where only experts and professionals can find any sort of success. Many people who work in the field of law spend an upwards of four years just in college, learning and taking tests in order become lawyers. Also, keep in mind that the court of law is one that sees a tremendous amount of money involved.

Many lawsuits involve personal injuries, some involved divorces, and some involved bankruptcy. For these situations, you will need an injury attorney, a divorce lawyer, and bankruptcy lawyers respectively. The United States economy loses $239 billion annually to civil lawsuits, which shows that there is a lot of money to be made and lost in this industry.

If you are someone who finds themselves in the situation of a bankruptcy do not feel shame, this is quite common in the United States. Make sure you hire the best bankruptcy lawyers to help you with your situation. Here is what you need to know about hiring and working with bankruptcy lawyers.

Bankruptcy court statistics gathered in the United States revealed that on average, nearly 1.5 million people will file for bankruptcy each year. For just about 62% of all bankruptcies, the cause of bankruptcy came from large medical expenses. This involves people who are hurt in serious situations and thus cannot afford to pay off medical bills from visiting the emergency room and getting help.

These very same statistics also revealed that students loans comprise for just about 1% of all the bankruptcies in the United States. This 1% equates to about 15,000 bankruptcies every single year. This may seem incredibly daunting but again as mentioned before, you are not the only person who is working with bankruptcy lawyers to go through a bankruptcy.

Just about 75% of all United States citizens are living from paycheck-to-paycheck, and just about 27% of all Americans have no savings in their bank account. Only 25% of all Americans will have enough money inside of their savings account to cover six months of expenses if they are involved in any sort of emergency. It is not so much important as to whether or not you are filing for bankruptcy, but instead, it is important to make sure you are working with bankruptcy lawyers to protect yourself.

In 1980, 13% of all bankruptcies involved businesses, whereas today they only comprise 3% of all bankruptcies. If you are involved in Chapter 7 bankruptcy claim then there are a number of reasons as to why you should get help from bankruptcy lawyers. One of them involves the fact that if you have an attorney, your success rate for a Chapter 7 bankruptcy case will be over 95%.

On average, being involved in a Chapter 7 bankruptcy case will cost anywhere between $1,500 to $3,000. Those who file for bankruptcy must pay a filing fee. In regards to a Chapter 7 case, the feel is normally $335, whereas with a Chapter 13 case the fee is $310. In 2014, the top five states with the most bankruptcy filings were California, Florida, Illinois, Georgia, and Ohio, and those states are ranked from most to least.

In Conclusion

Working with bankruptcy lawyers is going to be your best bet if you are involved in any bankruptcy claim whether it be a Chapter 7 case or a Chapter 13 case. Make sure you hire the best bankruptcy lawyers in your area because you want to make sure you are not vulnerable to ending up in a worst position then before. You should always give yourself the best chance to succeed in all aspects of life but especially in the court of law.

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