Why You Need a Bankruptcy Attorney
People still hesitate to file for bankruptcy to get rid of unpaid credits they have. There are valid reasons behind this. There are many companies who assure people that they will have a hassle-free bankruptcy filing experience, but in reality, people suffer. From misleading information and guidance, they choose inappropriate chapters for bankruptcy and they end up losing all their properties, facing creditors’ harassment and getting no help from the companies they have contracted to assist them.
This is the reason why it is recommended to hire a reputable and experienced bankruptcy attorney in Edmond, OK.
Most of the time, people suffer when filing for bankruptcy due to inadequate knowledge, so let’s first take a look at the beneficial sectors of Chapter 7 Bankruptcy. With Chapter 7 bankruptcy, you will have the option to rebuild your financial structures. The benefits include;
You are eligible to pay off the creditors as soon as possible; it is often called as debt forgiveness. With the right guidance, most bankruptcy cases are dissolved within six months.
People can get rid of the creditors’ continuous calls and harassments. By filing Chapter 7 bankruptcy, the judge will put an automatic stay on the creditors which compels them to stop contacting you.
The damage you make to your credit score with Chapter 7 bankruptcy can be repaired gradually with your good financial management.
Why an Attorney?
Most of the time, if people in this situation are not benefited from Chapter 7 bankruptcy, it is because the lawyer they are using is inexperienced or they have attempted a DIY method. Without an experienced attorney, the law is not comprehensible to you and you will make mistakes. Here we will give you some more reasons as to why you should rely on a bankruptcy attorney in Edmond, OK.
When filing bankruptcy, you need proper planning. It is about getting a solution for your ongoing financial problems. The planning will include the bankruptcy chapter you should file under to stop any harassment. And, only the bankruptcy attorney in Edmond, OK, can guide you with this.
After planning and before execution, you would need to be prepared. The lawyer will process an application and determine whether you are eligible for Chapter 7 bankruptcy or not. Then, the assets are valued. Let your bankruptcy attorney in Edmond, OK, use the exemption rule in your state. Lastly, any dischargeable debts are determined as all debts cannot be wiped out under bankruptcy.
In the process of bankruptcy, the lawyer will help you complete the schedules and other paperwork including income, expenses, assets and other things associated with financial transactions. The lawyer will provide you with a full testimony of the entire process. He or she will negotiate with your creditors and keep an eye on whether they are violating the rules or not.
For a reliable and experienced bankruptcy attorney in Edmond, OK, you need to go to a reputable law firm. Chris Mudd and Associates is there for people to help them in their financial troubles. Come to us and find a better way out.