Three Reasons You Should Have A Bankruptcy Lawyer
The job of a bankruptcy attorney is to represent an individual or company that is in debt. A bankruptcy attorney can also represent the company who is trying to collect a debt. There are plenty of great bankruptcy firms across the United States but one of the best is located in Arizona. This bankruptcy firm is called Greeves and Roethler Arizona. A bankruptcy attorney or firm represents its clients both in and out of the courtroom. The job that a bankruptcy attorney or firm does when working with their clients outside of the courtroom is advising them on all the different bankruptcy laws. A bankruptcy attorney or firm also assists their clients in liquidating assets so they can pay off creditors. The advancement in technology and applications such as Zoom allows an individual to have the ability to hire a bankruptcy attorney or firm that is not in their local community such as Greeves and Roethler Arizona.
The First Reason Why Individuals May Need A Bankruptcy Attorney
The first reason why individuals or companies look to file bankruptcy is to determine if they even need or qualify to file for bankruptcy. In some cases, individuals or companies may look at their own financial situations and think that bankruptcy is the only way to get out of debt. However if a bankruptcy attorney or firm takes an individual or companies case they may review the files and see that there are other options outside of bankruptcy. The job of a bankruptcy attorney is not just to file the bankruptcy because the client insists but it is to bring the client the best debt solution possible that fits their individual circumstances. Every individual or company who is considering filing for bankruptcy should always consult a bankruptcy attorney or firm before making the final decision to make sure there are no other options available.
The Second Reason Why Individuals May Need A Bankruptcy Attorney
Another reason why an individual may need a bankruptcy attorney to help them determine which chapter to file for once a decision has been made that they need to file for bankruptcy. When filing for bankruptcy a bankruptcy attorney will make sure that his or her client is going to file the right chapter that is beneficial to their individual circumstances. An individual that does not have any assets, a low income or no income, and is incapable of paying down any debt is usually recommended to file for a Chapter 7 bankruptcy. A Chapter 7 bankruptcy removes all debt except for student loans, child support, and back taxes. Individuals who have a good and consistent source of income along with viable assets are recommended to file for a Chapter 13 bankruptcy. If a Chapter 13 bankruptcy is filed the debt will be restructured so that the payments are reasonable and manageable for the individual to make.
The Third Reason Why Individuals May Need A Bankruptcy Attorney
The final reason why individuals may need a bankruptcy attorney is to ensure that their bankruptcy will be accepted. When an individual files for bankruptcy the bankruptcy has to be accepted by the courts. Using a bankruptcy attorney dramatically increases the odds of an individual bankruptcy being accepted. Individuals can file for bankruptcy themselves without hiring an attorney but filing this way decreases the chances of the bankruptcy being accepted. The most common reason why individuals who filed for bankruptcy on their own get denied is that they do not fill out all the paperwork correctly. If an individual utilizes a bankruptcy attorney it will eliminate the chances of mistakes being made on bankruptcy paperwork.