Regardless of how careful an individual is with their money, they can find themselves in trouble financially. They may have lost their job, made a bad investment, or got behind on their bills for reasons that they could not help. Whatever the reason, when an individual has problems financially, they are left with few options. One of those options is bankruptcy. If an individual is considering to file for bankruptcy, they should consult with Attorneys Chandler AZ first. There are several ways that a bankruptcy attorney can help.
Realistic Assessment of the Situation
When an individual hires Attorneys Chandler AZ, they will be able to get a realistic assessment of their financial situation. In some cases, filing for bankruptcy is not the best option, credit counseling is. In other cases, filing for bankruptcy is the best option. An attorney would advise the individual as to how they should proceed.
Advice on the Best Type of Bankruptcy to File For
There are two types of bankruptcy. The first is Chapter 7. This type of bankruptcy would absolve any of the individual’s unsecured debt. The second type is Chapter 13. This would give the individual more time to pay off their debt. It would take a lawyer to help the person filing decide which type would be best for their individual situation.
Assistance With the Paperwork
There is a great deal of paperwork involved when an individual files for bankruptcy. If the paperwork is not filled out correctly or if something is left out, it can result in the judge denying their petition for bankruptcy. If the individual hires a lawyer, they will have someone there to complete the paperwork so that it is done correctly and thoroughly.
Knowledge of Bankruptcy Law
There are many bankruptcy laws that most individuals don’t know about unless they practice law. For example, there is a statute of limitations when it comes to debt. If the individual didn’t know that, it can result in costly errors. The lawyer’s knowledge of bankruptcy law can save the individual money in the long run.
If an individual finds themselves in financial trouble, they should seek the assistance of an attorney. An attorney will help guide them through the entire process. For more information, Visit the site.