People take legal matters into their own hands every day, and sometimes they lose money and property in the process. You can make a legally binding contract without using an attorney, but you are risking missing some big legal loopholes and laws you may not be familiar with that can not only make your contract invalid but can actually cost you in the end. When you are selling or purchasing real estate, tackling the creation of a will or even just loaning money to a friend, a consultation with an attorney can be a positive step. I'll show you when and why you need an attorney.
Filing for bankruptcy can be a difficult decision, but in some situations it may be the only option for a person or couple to make a fresh financial start. If you are in debt and are seriously thinking about filing for bankruptcy, you may feel like hiring a bankruptcy attorney is an expense that you can't afford. While legal fees are not cheap, it is in your best interest to hire a lawyer to assist you when filing for bankruptcy. Some of the top reasons to hire a bankruptcy lawyer instead of filing for bankruptcy on your own include the following.
Understanding Bankruptcy Laws
Filing for bankruptcy involves a lot more than filling out a couple of forms and submitting them to the court. Bankruptcy is a complicated process and there are a number of complex bankruptcy laws that most people are not aware of. When you have a bankruptcy lawyer assisting you, you can count on him or her to completely understand all of the bankruptcy laws that pertain to your case.
Choosing the Right Bankruptcy Option
There are several different types of bankruptcies, and you may not know which one you qualify for or which one is the best choice for your unique financial situation. When it comes to personal bankruptcy, the most common types are chapter 7 and chapter 13. Your lawyer will be able to carefully review your finances and determine which type of bankruptcy you should file for.
Protect Your Assets
In most cases, if bankruptcy forms are properly filled out and submitted, you will most likely not lose your primary residence or personal vehicle. However, if you do not correctly list your assets, your bankruptcy may be denied, or you could end up losing important assets due to your mistakes. An experienced bankruptcy lawyer will know how to properly list your assets in order to protect you from losing as much as possible.
Avoid Accidental Bankruptcy Fraud
When you don't know what you are doing, there is a good chance that you can make major mistakes when filing for bankruptcy. Even if the mistakes that you make, such as filling out forms incorrectly or forgetting to list assets that you hold, is done accidentally, you can still get in a lot of trouble and be charged with bankruptcy fraud. No one who is filing for bankruptcy wants to deal with being charged with bankruptcy fraud — the best way to avoid this situation is by hiring an experienced bankruptcy lawyer.
Contact an office like Downard & Associates for more information.
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