Filing for bankruptcy is one of the most difficult decisions you may ever make. It is filled with social, legal, and financial ramifications that will last several years, if not longer. The decision is often made as a last resort to address limited available funds and significant financial distress. You may think that hiring a bankruptcy attorney is an expenditure you can't afford in these pressing moments. However, hiring a solid bankruptcy lawyer is money you can't afford not to spend. These are a few of the many reasons why.
A Bankruptcy Attorney Is a Subject-Matter Expert
It's highly likely that you'll only file for bankruptcy once in your life. That means you may not have a wealth of experience in the legal and financial framework the process requires. A skilled bankruptcy attorney, on the other hand, has a large amount of experience and education. The combination can spare you a few potentially costly mistakes along the way. Let your attorney's experience and knowledge save you money and protect your assets throughout the bankruptcy filing process.
Lawyers Are Objective Parties
No matter how logical you are, filing for bankruptcy is a deeply emotional experience. Because of this, you may make decisions that aren't necessarily in your best financial and legal interests if you represent yourself. Your bankruptcy attorney is there to help guide you away from these types of choices and explain wiser decisions available to you. That objectivity may save you a lot of money and help you avoid forfeiture of some of your assets.
Skilled Attorneys Can Help You Work Within the Constraints of the Law
Bankruptcy law, like most legal practices, is complex. There are many twists, turns, and pitfalls that can be overwhelming to people unfamiliar with the nuances. Your attorney is there to help you work within the framework of existing case law. Attorneys are able to do this while also helping you adhere to the letter of the law without placing the spirit of laws designed to help people, like you, at risk.
Because there are so many potential pitfalls when representing yourself in bankruptcy or any other legal proceedings, it is always in your best interest to hire a bankruptcy attorney who is well-versed in state bankruptcy laws and has experience with these types of cases. Following your attorney's advice can help speed your financial recovery and minimize your losses. Contact a bankruptcy lawyer to learn more.