Getting out from under a large amount of debt can feel impossible at times. However, with the help of Chapter 7 bankruptcy relief, it is possible for individuals to get out from under their debts and enjoy a fresh start. If you think that Chapter 7 bankruptcy may be the answer to your financial problems, there is one very important fact that you need to know. This fact is that it is always in your best interest to pay a visit to a local law office before filing your bankruptcy petition with the court. Continue reading to learn more about the three reasons why it is so important for you to follow this advice.
#1: Ensure That Bankruptcy Really Is The Best Option For You
While you may be of the opinion that Chapter 7 bankruptcy is the best or even possibly the only option you have available to you right now, the fact is that there are several different debt relief options that may apply to your current situation. A law firm that specializes in bankruptcy cases will be extremely knowledgeable regarding all of these different options. With the help of a bankruptcy attorney, you can carefully explore each of the options you have available to you and choose the option that works best for your specific needs and abilities.
#2: Get Help Protecting The Assets That Are Most Important To You
Many people often hesitate when it comes to filing for Chapter 7 bankruptcy because they are worried about losing important assets such as their home, vehicle, jewelry, or the tools of their trade. While it is true that some assets can be subject to seizure during a bankruptcy case, it is also true that the law provides protection against seizure for many of your most important assets. Visiting a law firm to discuss your situation before filing for Chapter 7 bankruptcy relief will allow you to get all of the information you need regarding asset protection laws in your state. This information will help you to better understand exactly what assets you will be able to keep and which assets you will likely be required to surrender. With this information in hand, you will be far better equipped to make a decision regarding whether or not you wish to file for bankruptcy.
#3: Don't Risk Your Financial Future As The Result Of Mistakes In The Court Process
As with all types of court cases, there are many different rules and procedures which must be followed in order to successfully complete your bankruptcy case. The stakes can be quite high in this situation since most courts will not allow you to file a new bankruptcy petition for several months or even longer if your current claim for bankruptcy relief is denied. Working with a law firm can help you to avoid any mistakes that could potentially jeopardize your ability to get the debt relief you need.
Contact a law office for more information.