Bankruptcy attorneys can help you with many aspects of the bankruptcy process. They can review your finances and help you decide if filing is the right choice for you.
They can advise you on the tax consequences of bankruptcy and help you value your property. They also know how to choose and apply exemptions to protect your property.
Help You Keep Your Home
Depending on which type of bankruptcy you file and whether you are up-to-date with your mortgage payments, you may be able to keep your home. Bankruptcy is a powerful tool that helps many people stay in their homes by stopping foreclosure and erasing credit card debt and medical bills.
You may be able to avoid a foreclosure by filing Chapter 13 bankruptcy, which allows you to create a repayment plan for three to five years. Under the repayment plan, you can pay priority creditors like your mortgage lender and unsecured creditors such as credit card balances, and then use any remaining amount toward nonpriority debts.
A bankruptcy lawyer can also explore mortgage modification options on your behalf. They can help you negotiate with your mortgage lender to reduce your principal and interest rates, which can make it easier to stay current on your payments. They can
also explain how the different types of debts can affect your ability to keep your home.
Represent You in Court
A bankruptcy lawyer can represent you in court, making sure that your testimony is accurate and helping you file all the required forms. They can also help you with credit counseling and prepare your means test. They will make sure that you attend a 341 creditors meeting and handle any other hearings that may occur during your case.
A good bankruptcy attorney can also negotiate with your mortgage lenders and explore alternative solutions like mortgage modification that could help you keep your home without needing to file for bankruptcy. They can even help you negotiate with debt collectors to stop them from calling you.
Bankruptcy has many complexities and even one mistake can ruin your entire filing. An experienced bankruptcy lawyer can ensure that your paperwork is filed correctly and on time. They will know the laws of your state and how they pertain to exemptions and help you take full advantage of them to protect your property.
Help You Determine Which Chapter of the Bankruptcy Code is Right for You
A Harrisburg bankruptcy attorney can help you decide which chapter of the bankruptcy code is right for your situation. This includes helping you go through the means test to determine if you qualify for Chapter 7. They can also advise you on if you need to file for Chapter 13 and help you develop a repayment plan.
They can also help you value and protect your assets by knowing what exemption rules apply in your state. These laws vary by state but generally include protecting items such as your home, vehicle and clothing. They can also help you determine which debts the court will discharge and which will remain.
They can also advise you on other options for dealing with your debt such as debt settlement or even just a regular credit card. They can also handle communication with creditors on your behalf, which is usually a huge stress reliever. If you have any questions throughout the bankruptcy process, your lawyer should always be available to answer them.
Help You File the Right Paperwork
There are many forms that must be filed in a bankruptcy case. A single mistake on one form could cause your entire case to be dismissed. A bankruptcy lawyer will help you complete all the necessary paperwork and make sure everything is turned in on time. They will also represent you at the meeting of creditors and any other court hearings that may arise.
Bankruptcy attorneys are skilled negotiators and can work with your creditors to reach agreements that can resolve most or all of your financial issues without the need for a full bankruptcy filing. This can save you money in the long run and give you more control over your finances.
A bankruptcy attorney will review your current debt situation and suggest the best type of bankruptcy to file for your circumstances. They will also determine which debts the court will discharge and which will not. They will also help you choose and apply exemptions to protect your property.
