Every year, hundreds of thousands of people file for bankruptcy in the United States. Most people are more likely to contact the bankruptcy court than any other legal process, except for the family court. If you feel overwhelmed by your debts, it might be the right time to file for bankruptcy. However, it's important to first consult a bankruptcy attorney before you decide to file for bankruptcy. The attorney will advise you if bankruptcy is the right option for you. If bankruptcy is not the right option, the attorney will recommend other ways of dealing with debt. For reliable legal counsel while filing for bankruptcy, contact the Los Angeles Bankruptcy Attorney. Our experienced Sylmar bankruptcy attorney is willing to guide you.
Filing for Bankruptcy Without an Attorney
You may opt to apply for bankruptcy without the assistance of an attorney. Every year, a substantial percentage of people in the U.S. file for bankruptcy without an attorney's help. If your finances are simple, you might be able to sail through without an attorney. If you don't have major assets like a house, vehicle, and you don't have secured loans, you may opt to file for bankruptcy on your own. However, if you have secured debts, filing for bankruptcy will involve some hard decisions. For instance, you will have to deal with your creditors and decide whether to redeem your property or enter into a reaffirmation agreement.
If you opt apply for bankruptcy without an attorney, you must make sure that you are familiar with all the aspects of bankruptcy, including exempt and non-exempt properties. You must know whether to apply for Chapter seven or Chapter thirteen bankruptcy. If you intend to apply for Chapter thirteen bankruptcy, you should understand how bankruptcy plans under Chapter thirteen, work and draft a plan.
You have to provide vast information regarding your finances, expenses, property, creditors, and financial transactions while filing for bankruptcy, irrespective of how simple your bankruptcy case is. The bankruptcy procedure is much more confusing than most people realize. Even if it's possible to go through the bankruptcy filing alone, it's often very difficult. Even if you succeed in the end, the process will be very tiring. Because filing for bankruptcy is stressful, you should not make it harder by failing to seek legal representation.
A Bankruptcy Attorney Helps You get it Right the First Time
The majority of people who apply for bankruptcy choose an attorney to guide them through the bankruptcy filing. An attorney guides you through the bankruptcy application, helping you comply with all the requirements and avoid pitfalls. Do I need a bankruptcy lawyer at all? This is a common question among people intending to apply for bankruptcy. Most people may decide that hiring a bankruptcy attorney might make their financial situation worse since they are already broke. However, an attorney makes a bankruptcy application hassle-free and could help you safeguard your assets. Some of the benefits of working with an experienced Sylmar bankruptcy attorney are:
A Safety Blanket during Bankruptcy
The decision to file for bankruptcy is mentally tough and complicated. A bankruptcy attorney understands this, and besides helping you handle the technical aspects of bankruptcy, they act as a safety blanket, helping ease the bankruptcy application. Your Sylmar bankruptcy attorney makes sure that you have peace during the bankruptcy filing.
The attorney will explain the different bankruptcy processes making the complicated process a little simple. It doesn't matter whether you seek help in the overall management of your debt or you need relief in managing the nagging calls from creditors. The attorney will be there to guide you even if you only need advice on whether bankruptcy is the right option for you. An attorney aims at guiding you through difficult times and helping you reach a positive outcome.
An Attorney Increases your Chances of Eliminating Debt
Persons being represented by an attorney while filing for bankruptcy have a higher success rate than people who choose to represent themselves. A bankruptcy attorney is particularly important while filing for Chapter thirteen bankruptcy. The court is highly likely to approve your bankruptcy plan under Chapter thirteen if you have an attorney representing you.
Even if you incur the cost of hiring a bankruptcy attorney, having a competent attorney representing you outweighs the cost. You should never jump into bankruptcy without planning and understanding the implications of bankruptcy. Before even recommending bankruptcy, an attorney considers other ways of dealing with debt. In some instances, an attorney may examine your financial situation and advise you to negotiate settlements with your creditors instead of filing for full bankruptcy.
Choosing the Type of Bankruptcy
A legal expert will also guide you and help you know the type of bankruptcy to file. Depending on your financial situation, you may file for Chapter seven, Chapter eleven, or Chapter thirteen bankruptcy. Chapter seven and Chapter thirteen are the typical forms of bankruptcy, and they differ in many ways. Compared to Chapter thirteen, Chapter seven, bankruptcy is shorter and doesn't require a repayment plan. Not every person qualifies for Chapter seven bankruptcy, and at times, bankruptcy under Chapter seven may not fulfill all your financial goals. For instance, if you intend to save your home, Chapter seven bankruptcy might not be a good option. Since a bankruptcy attorney understands all types of bankruptcy and their implications, they are well-placed to advise you regarding the best form of bankruptcy.
Preparing the Bankruptcy Paperwork
After deciding about the type of bankruptcy to file, a legal expert will help you compile all the relevant bankruptcy paperwork. In your bankruptcy paperwork, you must include detailed information regarding your debts, property, income, and assets. Making even a slight mistake could compromise the bankruptcy procedure. An attorney guides you on how to disclose your assets. Making mistakes while disclosing your financial details could even lead to allegations of bankruptcy fraud. A bankruptcy attorney understands all the necessary paperwork and will help you gather all the necessary supporting information.
A legal expert will also help you complete the bankruptcy means test while filing for Chapter seven bankruptcy. Under Chapter seven bankruptcy, a legal expert will help you value your property and make sure that you retain as much property as possible.
Representing You during Bankruptcy Proceedings
A bankruptcy attorney represents you during the bankruptcy hearings. The federal law governs and oversees the bankruptcy procedure. It's important to make sure that you comply with all the necessary court procedures and bankruptcy laws. This might be hard if you don't seek the assistance of a bankruptcy attorney.
The bankruptcy procedure also involves maintaining regular communication with the trustee and, at times, with the bankruptcy judge. Every information you share with the bankruptcy trustee might impact your case; thus, you should handle it carefully. An attorney ensures that all the information you issue is accurate. A legal expert will also represent you at the creditors' meeting and any other relevant bankruptcy hearing. A bankruptcy attorney is always on your side, and they aim to protect your interests.
A legal expert will help you negotiate an ideal repayment plan under Chapter thirteen bankruptcy. They will ensure that the repayment plan is fair and that you will follow through with it. Your attorney will work with the bankruptcy trustee to modify your repayment plan if your financial situation changes during the bankruptcy procedure. Many things could go wrong if you apply for bankruptcy without the legal guidance of a bankruptcy attorney. An attorney could speed up the bankruptcy procedure and make the process less stressful.
Addressing Creditor Issues
After you apply for bankruptcy, your creditors should not make any recovery effort against you or harass you to pay their debts. However, many creditors disregard a debt discharge and continue to harass debtors even during a bankruptcy discharge. Your Sylmar bankruptcy attorney could request the court to instruct your creditors to stop this form of harassment.
You may still face the possibility of foreclosure even after bankruptcy because bankruptcy may not address all your financial issues like discharging your mortgage balance. If need be, your bankruptcy attorney could negotiate for a mortgage modification or seek other solutions that will help you retain your home.
Understanding the Timeline
Having a bankruptcy attorney by your side will help diffuse the anxiety and confusion that comes with filing for bankruptcy. An attorney enables you to understand how to move your case forward and the applicable timeline. An attorney assists you to know the loans that are eligible for bankruptcy discharge and how bankruptcy will affect your credit score and other areas of your life. An attorney helps draw a clear timeline of what you should expect and when you should expect it. An attorney leads you through the short term and the long term impact of filing for bankruptcy.
Managing Life Post-bankruptcy
Filing for bankruptcy is not the end. You still have a life after bankruptcy, and an attorney advises you on managing life after bankruptcy. It may take some time to get on your feet after bankruptcy, but an attorney can make the recovery process post-bankruptcy much easier. An attorney also gives you advice on how to rebuild your credit history. An attorney gives you the guidance you need to steer you in the right direction.
Why Use Our Services?
With so many bankruptcy law firms in Sylmar, what makes us stand out? Why should you use our services?
Excellent Client Service
At Los Angeles Bankruptcy attorney, we are motivated and enthusiastic about providing you with the personalized attention you deserve. Our Sylmar bankruptcy attorney is flexible and will be willing to meet whenever you desire. We also provide our clients with consistent updates regarding the progress of their cases. We seek to exceed our clients' expectations in every aspect, which has helped us build an excellent reputation in Sylmar.
We Listen to Our Clients
Our attorneys are responsive, and they listen to clients. Given that filing for bankruptcy is a complicated process, you should only go for a responsive attorney interested in helping you. Even before providing legal counsel, our attorney will take time to listen to your preferences. You will feel free to express yourself and disclose the relevant information regarding your debts, income, and expenses. Our attorney will do their best to ensure that the bankruptcy process works in your favor.
Experienced Bankruptcy Attorney
You'll get the best out of bankruptcy when you have a competent attorney to represent you during the bankruptcy process. Our attorneys have helped clients file for bankruptcy countless times, and they understand all the aspects of California bankruptcy law. Our attorneys will answer all your questions and make sure that you understand the bankruptcy application and its implications. We work for our clients by ensuring that we always put our clients' needs before our own. Unlike some law firms that might make you feel like you work for them, we will treat you like a king.
When you hire our bankruptcy attorney, you will get just that, a bankruptcy attorney. You will have access to your attorney whenever you need them. Your Sylmar bankruptcy attorney won’t have their paralegal liaise with you but will communicate with you directly. With our legal services, you will experience a true attorney/client relationship.
Find a Los Angeles Bankruptcy Attorney Near Me
Filing for bankruptcy takes courage. It takes courage to admit or accept that you are in a financial crisis. Most people take too long before filing for bankruptcy because they are often in denial. However, the longer you take before initiating a bankruptcy application, the worse your debt situation gets. You should contact a reliable bankruptcy attorney as soon as you realize that you are in a debt crisis. An attorney evaluates your situation, considers if seeking bankruptcy is a good way to deal with your debt. For reliable legal counsel while applying for bankruptcy, contact the Los Angeles Bankruptcy Attorney. We'll be glad to point the way during a bankruptcy application and help you get on your feet after the bankruptcy filing. Contact us at 424-285-5525 and speak to one of our competent bankruptcy attorneys.