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What Are The Advantages Of A Bankruptcy Attorney?

Over the last 10 years, there has been huge interest in the do-it-yourself industry nationwide. Before hiring anyone to do anything most Americans go online and see if there is any way they can save money by doing it themselves. This all began with the home improvement industry and has even gone into the legal realm of bankruptcy filing. People who are in debt and in the process of filing bankruptcy look for ways to save money on the process. There are do-it-yourself bankruptcy websites out there, but they are not advisable. First of all, when the debtors are not being represented by a bankruptcy attorney, they have no one to go to for legal advice regarding the process. This even filters down to the process of filling out the bankruptcy petition. Most people don’t realize that any advice whatsoever is perceived as giving legal advice by the court. This is another flaw of trying to save money by hiring of paralegal to prepare the bankruptcy petition. Although a paralegal that works in a bankruptcy attorney’s office might have the expertise to do a good job, they cannot advise their client on what information to put in to the petition. Where it really comes out is in the selection of bankruptcy exemptions. The bankruptcy trustee knows that the average Joe will have no experience in understanding the bankruptcy exemptions. The first question they’ll ask at the 341 meeting, is did anyone help you selecting the bankruptcy exemptions?
The advantages of a bankruptcy attorney highly outweigh the disadvantages. First of all, using simple math, when a debtor considers the amount of debt that will be discharged in the bankruptcy filing and compares it to the costs of hiring a bankruptcy attorney, the cost of a bankruptcy attorney is minimal. When it comes down to preparing the bankruptcy petition, the bankruptcy attorney will know what the local court expects from the person filing bankruptcy. The bankruptcy petition will be prepared with professionalism and be backed by the signature of a bankruptcy attorney that is probably filed many petitions in that district. Most people believe that Chapter 7 bankruptcy is a simple process and can be done on their own. Since the changes to the bankruptcy code in 2005, the process of filing bankruptcy has become a lot more complicated with land mines that an individual might step on causing them future financial damage. As long as the debtor is completely truthful with the bankruptcy attorney, the debtor will get a bankruptcy discharge with no problem. In some cases, it will be in the best interest for the bankruptcy attorney to delay the filing to get the maximum benefit for their client. The do-it-yourselfer would walk in blindly to an ambush.

2 Responses to What Are The Advantages Of A Bankruptcy Attorney?

  1. says:

    I agree on the complaint. I think that is why they’re working on the curation aspect so you can unfollow those who are posting also many things you you should not want. Most in the front page items are brilliant but some on the stuff were things posted on Reddit months ago.

    Reply
  2. says:

    I’d really like to meet the person who did the Spartan logo. Like, wow…

    Reply

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