Consumers who are considering filing for bankruptcy should know that it is a serious decision that should not be taken lightly. Not only will going bankrupt have an impact on their credit for years to come, but the process of filing itself can be quite a challenge depending on their unique situations. That’s why it’s always a good idea to hire a Bankruptcy Attorney In Olympia WA who can help clients understand their options and ensure that the entire filing process goes as smoothly as possible.
When money’s already tight, it might seem like a good idea to put off hiring a lawyer and attempt to file independently. This is almost always a mistake, though. Read on to find out about just a few of the reasons it’s better to work with an attorney from the beginning.
Knowledge of the Laws
The average consumer may know what bankruptcy is but he or she is unlikely to have an in-depth understanding of all the relevant laws. A Bankruptcy Attorney In Olympia WA will know what debts can be discharged, what assets are considered exempt, and what relevant changes have occurred in recent years that might impact his or her clients’ petitions.
Protection From Lenders
Creditors who know that their borrowers have legal representation will be less likely to harass them for payments. Those who are significantly behind on payments already will really appreciate the relief this offers. Plus, working with an attorney makes it less likely that creditors will contest the discharge of clients’ debts.
Prevent Costly Mistakes
Even a slight error in filling out a bankruptcy petition can wind up leading to serious problems. While it’s true that clients will have to provide their own financial data, an attorney can ensure that it is all conveyed accurately and that all information is provided. This can avoid a good deal of wasted time and prevent the possibility of accidents.
Get it Done Faster
The end result of not knowing all the details of bankruptcy law, having to fill out paperwork without any help, potentially dealing with objections from creditors, and advocating for oneself in hearings is that the entire process can take a long time. Bankruptcy attorneys can help to ensure that the entire process is finished as quickly as possible.
