The Bruntz Law Firm, LLC

Call us today for Free Consultation

Toll Free: 800-546-1195 | Local: 720-837-2960

Call us today for Free Consultation

Due to precautions related to COVID-19, we have expanded our options for remote consultations. Please contact our office to discuss whether a full phone consultation or video conference is appropriate for your situation.

The top 5 reasons you need a bankruptcy attorney

On Behalf of | Apr 30, 2022 | Chapter 7 and Chapter 13 Bankruptcy | 0 comments

Financial stress can devastate you, especially if you’re considering bankruptcy. For example, the National Library of Medicine detailed how economic difficulties correlate to increased depression and anxiety.

Instead of managing a bankruptcy on your own and intensifying your stress, consider these reasons for hiring a bankruptcy lawyer.

Retaining more of your assets

A lawyer can show you how to correctly value your assets and keep more of your property by utilizing exemptions. For instance, your attorney can fight to get you the total amount of the homestead exemption, which safeguards tens of thousands of dollars of your home equity.

Selecting the correct chapter

Your lawyer can help you determine whether Chapter 7 or Chapter 13 is right for you. Each option has pros and cons, and the wrong choice can cause irreversible financial strain.

Avoiding bankruptcy if possible

When a lawyer reviews your books, you might devise a repayment plan to avoid the challenge of bankruptcy altogether. Then you can more easily rebuild your credit.

Eliminating errors

A lawyer helps you avoid mistakes that can have painful consequences, such as missed deadlines or incorrect valuations. Your attorney ensures prompt submission of documents and fees, which speeds up the process and saves you money.

Negotiating with creditors

Your attorney can do all of your communicating with creditors, lessening those harassing calls. Once you finish your proceedings, your legal representative helps halt creditors who might keep trying to collect on canceled debts.

Bankruptcy can lay the foundation for economic recovery. With a bankruptcy attorney on your side, you minimize the pain and pave the path for a surer financial future.