It is not uncommon for a person to find themselves in financial trouble at one point or another. If their issues are so serious that they cannot get themselves out, filing for bankruptcy may be their only option. Before they file, they should hire a Bankruptcy Lawyer in Lakewood WA. There are plenty of benefits of having a lawyer to advise them.
Professional Assessment Of the Financial Situation
When a person hires a bankruptcy lawyer, they will have someone to examine their finances extensively. The lawyer will review the individual’s financial situation so that they can offer the best advice possible. In some cases, there are other options besides filing for bankruptcy. This is not something the individual should try to figure out on their own.
Chapter 7 or Chapter 13?
There are two types of bankruptcy. Chapter 7 will discharge all of the individual’s unsecured debt. Chapter 13 would give the individual more time to pay off their debt. Each type of bankruptcy can be beneficial for different financial situations. A lawyer could help the individual choose which type would best suit them.
Error-Free Paperwork
There is a lot of paperwork that goes into filing for bankruptcy. If any errors are made or if any sections are not filled out completely, the petition will be denied. If the individual hires a lawyer, they will have someone to make sure that everything is filled out completely and correctly.
Protection From Creditors
Anyone who has ever been in debt to a creditor knows that they can be relentless. Many creditors will call the individual every day at the most inopportune times. They will also send threatening letters often. If the individual has a lawyer handling their bankruptcy case, they can give the creditors their lawyer’s contact information which will put the phone calls and letters to an end. Since collection representatives can be very intimidating, this is one of the best reasons to hire a lawyer.
Before an individual files for bankruptcy, they should speak to a Bankruptcy Lawyer in Lakewood WA. If they don’t really need to go as far as filing for bankruptcy, the lawyer can advise them before they start the process. If bankruptcy is the best option, the lawyer will make sure that everything is done correctly from start to finish.
