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bankruptcy, Credit Repair, General Info

Bankruptcy Attorney Fees: Why They're Worth Paying

On Behalf of Veitengruber Law | Dec 31,2015

One common misconception about filing for bankruptcy is that the entire process is simply filling out a bunch of forms. This erroneous information leads some people to believe that hiring a bankruptcy attorney is a waste of money. "Why should I pay an attorney when I can easily do it myself?" We'd like to help you better understand the New Jersey bankruptcy process and some of the things your bankruptcy attorney does that make their legal fees totally worth it. First and foremost, a bankruptcy attorney will determine when is the best time for you to file for bankruptcy. Timing can be very important in some cases. Filing for bankruptcy does involve a significant amount of paperwork, much of which can be quite complicated and confusing, and everything must be filled out 100% correctly. If there are any errors anywhere in your bankruptcy papers, your case can be dismissed. Your NJ bankruptcy attorney knows exactly what forms need to be filed and when. He will be able to consult with you about what type of bankruptcy would be best for your unique circumstances. Many people who file without an attorney end up filing for the wrong bankruptcy chapter.  Another thing you may not have considered is that there may be bankruptcy alternatives that would work for you. You might not even need to file for bankruptcy! Your attorney will educate you about all of your options so that you make the right choice. A bankruptcy attorney knows bankruptcy laws inside and out. This means that you won't have to worry about committing bankruptcy fraud accidentally. Understanding the definitions of exempt and non-exempt assets and how they relate to your case is imperative. There are different exemptions for each state as well as federal exemptions. Listing your assets incorrectly can result in significant property loss that you weren't expecting. As your case progresses, your attorney will constantly review things to make sure that nothing is missed. There are local bankruptcy procedures and rules, as well as trustee requirements, that must be followed. By working with an experienced bankruptcy attorney, you can rest assured knowing you won't break any rules that could seriously delay or even ruin your entire case. If one of your creditors feels that a particular debt shouldn't qualify for a bankruptcy discharge, your attorney will defend you against any claims that they may file against you. Additionally, most bankruptcy attorneys try to stay on good terms with the local court employees, which means the court staff won't give you a hard time. Without an attorney, you may not have such a pleasant experience, especially if you make any mistakes in your paperwork. In addition to all that your bankruptcy lawyer will do for you throughout the duration of your case, he will also work with you after it has ended. After you've received a discharge of many of your debts, you'll be able to start rebuilding your credit score. Your attorney will give you specific directions on how to keep your credit score moving in the right direction. Last, but certainly not least, bankruptcy attorneys understand that you are struggling financially and they have made it their life's work to help you. As a rule, you'll be able to  pay your attorney's fees on a payment plan that works for you. To learn more about this New Jersey bankruptcy attorney's fees, schedule a free consultation. We're confident that you will be pleasantly surprised.
Image credit: Got Credit

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