Wednesday, December 01, 2010

The Benefits of Hiring an Attorney to Help You File for Bankruptcy

My law firm recently began offering bankruptcy services to consumers in Northern California. We have been helping taxpayers resolve their federal tax debts for two decades, but many of our clients often struggle with unsecured debts as well. Filing for bankruptcy may seem scary, but it can offer relief and the fresh start that many families need in this economy. In honor of my firm’s new service, I have put together a list of advantages of hiring a professional to help you file bankruptcy.

Deciding to File

While the idea of having all or most of your debts eliminated is very tempting, filing for bankruptcy is not always the best choice. There are certain debts – such as some tax debts – that may not qualify to be discharged through bankruptcy. By consulting an experienced bankruptcy attorney, you can find out if it really is a good option for your specific financial situation.


Hiring an attorney who has experience with debts and finance will help ensure that your case is handled correctly, and that as many of your debts as possible are discharged. There are different chapters of bankruptcy, and it can be confusing trying to decide what to do on your own. In addition, laws are always changing and an attorney well versed in financial law will likely be up to date on recent changes in court procedures or bankruptcy law.

Error Control

Filing for bankruptcy on your own can be a very difficult and confusing process, but when it comes to something as serious as bankruptcy you want to avoid making any errors. An attorney who has helped clients through the process previously will know what to expect, and how to avoid making a serious error. In addition when you hire an attorney to handle your case you are really retaining an entire firm. There will be multiple legal assistants reviewing documents and helping with your case.

Valuing Assets

Putting a value on your own assets is not only difficult, but it can also be extremely emotionally straining for people. If you hire an attorney to file for bankruptcy, then you are also getting a trained, unbiased opinion when it comes to valuing your assets. They will work with you to make sure that your previous assets are not valued at less than what they are actually worth.

Hassling Calls

Anyone who has been in debt severe enough to file for bankruptcy knows that the relentless calls from creditors can be exhausting, embarrassing, and scary. However, once you hire an attorney, creditors and lenders can no longer call you directly. They are required by law to direct inquiries to your attorney.

Time is Money

When you retain an attorney to help settle your debts through bankruptcy then you may have to pay an initial fee to retain the firm. However, once you have done so they will take care of your case from start to finish. Ideally, resulting in the restructuring or discharging many debts. This is a very complicated process, and unless you are familiar with bankruptcy law, many Americans find the time and effort that goes into researching and preparing financial documents outweighs the fees associated with hiring an attorney. Finally, a trained lawyer is likely to achieve a better settlement than a person without any experience would be able to.

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