Why You Need a Bankruptcy Lawyer For Your Claim
People come across hard times. Perhaps they lose their source of employment or they become divorced, splitting their income in half, or even more. Perhaps they take a pay cut or have an unexpected cost occur. All of these circumstances can make it difficult to continue paying bills. It can make it impossible to pay off any debts and ensure that you have enough money to live on. This is often when people consider the option of bankruptcy. Bankruptcy allows people to either start over, erasing all of their debt for a good reason or to roll all of their debt into one monthly payment that they can afford. Once the term of the bankruptcy is paid off, no more money is owed. Both of these options require preparation, fees and legal visits. A bankruptcy lawyer is a great choice when filing for bankruptcy for many reasons.
When filing with a bankruptcy attorney, a person has a better chance at being approved for either chapter 7 bankruptcies or chapter 13 bankruptcies. In fact, with an attorney, the success rate for Chapter 7 bankruptcy claims is over 95%. The process for filing either chapter in bankruptcy can be lengthy and tedious. A bankruptcy attorney will ensure that the process is completed properly and everything is submitted when it is supposed to be. An average Chapter 7 bankruptcy case can cost anywhere from $1,500 to $3,000. These fees tend to be on the lower side when a bankruptcy claim is filed with a lawyer.
Proof is often needed to win a bankruptcy claim in the form of documents, earnings statements and proof of unemployment. Some documents tend to work better than others do. A lawyer can assist someone filing for a bankruptcy case by ensuring that the best documents for the specific case are used. This will also increase the chances of being granted bankruptcy. Bankruptcy filers must pay a filing fee. For a Chapter 7 case, the fee is $35 and for a Chapter 13 case, the fee is $310. A lawyer will ensure the fees do not go to waste, ensuring that all of the required documents are present and that the bankruptcy claim is filed properly.
As mentioned, there are two different types of bankruptcies filed. Chapter 7 and Chapter 13 are different types of bankruptcies with different stipulations, requirements and contingencies. A qualified bankruptcy lawyer will inform its clients of the best chapter to file for, also ensuring all of the required documents are available for that specific bankruptcy. They will inform the filer of the benefits and the disadvantages of each chapter.
Filing for bankruptcy is sometimes a necessary decision. It can also be a pricey and confusing process. Using the services of a bankruptcy lawyer will ensure that the bankruptcy claim is filed correctly, timely and will increase success rates of being granted the bankruptcy.