July 11, 2022

Is it worth hiring a bankruptcy attorney?

The burden of financial challenges usually drives people to file for bankruptcy. Most people hate having too many expenses during bankruptcy since they are already drowning in debt and sometimes opt to file independently.

However, the process is challenging, and you will need the aid of an experienced and skilled bankruptcy attorney to guide you and also offer sound advice in filing the correct type of bankruptcy. Let’s explore the value of your having or hiring a bankruptcy attorney in Media, PA.

What does a bankruptcy attorney do?

A bankruptcy attorney typically gives you sound legal advice concerning bankruptcy, aids in preparing legal documentation for clients, and acts on your behalf in court. However, a bankruptcy lawyer must have a bankruptcy law degree and a permit to practice bankruptcy cases in the state.

There are two categories of bankruptcy attorneys, consumer and commercial attorneys. Consumer lawyers will help you file for bankruptcy, while commercial lawyers typically handle liquidation for commercial entities.

The following are some of bankruptcy attorneys’ responsibilities to their clients.

  • State the bankruptcy filing procedure.
  • Assess your monetary situation or state and decide whether filing for bankruptcy will be the right option.
  • They help in setting up repayment plans.
  • Help you in clearing debts.
  • Handle the lenders.
  • Prepare documentation that includes evidence of assets, income, and expenditure.
  • Representing clients in bankruptcy court proceedings and giving legal advice during the entire bankruptcy case.

Do I Require a Bankruptcy Attorney?

This is a common question that will cross your mind, especially if you are facing financial difficulties. However, it is critical to understand bankruptcy mills and the various types of bankruptcy laws before seeking a solution. These chapters are as follows:

  • Chapter 12: This chapter of bankruptcy covers farmers.
  • Chapter 13: This chapter covers only individuals.
  • Chapter 7: Under this chapter of bankruptcy, individuals and commercial entities are covered; this is the easiest liquidation method.
  • Chapter 11: This chapter of bankruptcy offers business entities the chance to reorganize themselves while keeping the liquidation option open.

Furthermore, individuals are not legally required to have an attorney when filing for bankruptcy, whereas institutions and partnerships are. However, due to the complexities of filing for bankruptcy, it is critical to have an experienced lawyer to help you navigate the case and protect your rights.

How to find a bankruptcy lawyer in Media, PA

You should find a good bankruptcy lawyer when you want to file for bankruptcy. The following are some methods for locating a bankruptcy attorney.

Inquiring for a referral from trusted individuals

One of the best ways to find an excellent bankruptcy lawyer is to ask people close to you or in similar situations. Inquire with family members and coworkers about a skilled lawyer they have heard has an excellent reputation.

National Association of consumer bankruptcy attorneys

This is a trade association of bankruptcy attorneys who will represent people who are filing for bankruptcy. Through this organization, you can quickly find a bankruptcy lawyer in your area.

Legal aid offices

Legal aid offices usually provide legal help to people with low incomes. When you qualify or meet the requirements, you will get free representation from a great bankruptcy lawyer.

Online resources

Online resources such as directories and resource lists can assist you in locating an experienced and excellent attorney. Furthermore, you can find bankruptcy attorneys in your area using online resources.

However, you should proceed with caution because most attorneys listed in online directories may not be certified or endorsed, especially if they lack testimonies and reviews from previous clients.

The Advantages of Hiring a Bankruptcy Attorney

The following are some benefits of hiring a bankruptcy lawyer in Media, PA.

A lawyer will give you legal advice.

An experienced attorney will make sure to handle your complex bankruptcy case sensitively and will provide you with sound legal advice. Furthermore, after providing you with guidance, they will proceed swiftly to suggest comprehensive solutions that will aid in resolving your legal problems.

You will get a thorough financial assessment.

A bankruptcy attorney must assess your financial situation. A great attorney will thoroughly analyze your case and recommend the best action to pursue. Furthermore, if you decide to file for bankruptcy, your lawyer will provide you with an overview of your legal rights.

An attorney will help you protect your assets and properties.

During a bankruptcy, you have the legal right to keep your assets and properties. You can liquidate some of your properties and assets under Chapter 7 bankruptcy to settle your creditors. Furthermore, an attorney will assist you in filing the necessary documents to protect your assets.

An attorney will assist you in bargaining with the lenders.

Lenders usually refuse to negotiate with debtors to find a proper settlement solution. However, through a skillful lawyer, lenders might settle the debt. When creditors are aware you have a lawyer, they become cooperative.

You will get assistance in avoiding intimidating calls.

When a bankruptcy attorney represents you, lenders typically become careful while making collection calls since your lawyer will have advised you to use FTC guidelines in dealing with them.

Looking for a Bankruptcy Attorney in Media, PA? Contact us today

Many aspects of your life can be hampered or disrupted by financial difficulties. Lenders will continually disrupt your peace of mind by making multiple attempts to contact you, which can cause stress for you and your family. However, if you find a skilled and experienced bankruptcy attorney, they will guide you through the necessary steps to file for bankruptcy.

For nearly two decades, Michael Alan Siddons law firm has served the legal needs of individuals, municipalities, and professionals. Contact 610-255-7500 today for free legal advice or a free consultation.