A bankruptcy filing is incredibly complex and has to be managed properly. This is why you should considering hiring a chapter 7 bankruptcy lawyer to make sure all your paperwork is filed in order. Let’s take a look at the five key reasons why you should not go about it alone.
5 Reasons for Hiring a Chapter 7 Bankruptcy Lawyer
- Bankruptcy is incredibly complex. The process requires many different issues, such as the income-based test that looks at what your expenses are and how your income can cover those. It is all too easy to make errors on this test. For instance, a lot of people find it difficult to describe their household size, because not all courts agree on how that size is determined. For instance, some say that it is down to the number of people within the home, others say it is down to how many people depend on the individual filing for bankruptcy. A chapter 7 lawyer can ensure you understand these concepts and apply them properly.
- The rules are hard to understand. All legal concepts are, yet you must stick to the rules if you want your application to be approved. By working with a specialized lawyer, you will make sure that your case won’t get delayed or nullified. For instance, there were changes in 2005 that made it harder to get relief, as a “means test” would first need to be passed. This is a complex rule and one that has stopped many people from qualifying for bankruptcy at all.
- Lawyers know the court procedures. The entire filing process of bankruptcy requires the following of numerous complex procedures. By hiring an experience attorney, you will have someone on your side who understands these procedures, knows which documents to complete, and understands which information has to be included and given to the jury. You are allowed to file for bankruptcy without any form of legal assistance, but this is a very risky thing to do. It is better to work with someone who has the relevant background, education, and experience in this field.
- Lawyers know which chapter is most applicable to you. Generally speaking, with individual cases, you will have to file either Chapter 7 or Chapter 13. You must understand the difference between those two, so you can choose the one that is right. For instance, under Chapter 13, you will be assigned a payment plan of no longer than five years, and your property cannot be seized. Chapter 7 is a lot more convenient and quicker, but your income will be cut off.
- A bankruptcy trustee will be assigned to you, and they need to see various pieces of information to prove the things you claim. A professional lawyer knows what they will need, and they will ensure the right information is given to them. If a mistake is made at this stage, the entire case could be nulled.