When someone makes the decision to file for bankruptcy, they are well within their rights to not hire a bankruptcy lawyer in Lawrence, KS. If they have a case that is pretty straightforward, then self-representation may help them save money on attorney’s costs. However, this isn’t always a smart option. Some of the reasons that hiring legal representation is a smart option can be found here.
What Makes Bankruptcy Lawyers Worth the Expense?
One of the biggest benefits offered to individuals who are thinking about filing bankruptcy is that the attorney will be able to easily recognize any issues that may arise during the case and then plan accordingly. Some of the specific benefits offered by legal representation are listed below.
Determine Which Type of Bankruptcy to File
There are two main types of bankruptcy: Chapter 7 and Chapter 13. These each accomplish unique goals. Hiring a bankruptcy lawyer in Lawrence, KS will help a person determine which option is right for their needs and goals.
Understanding the Means Test
The means test is a calculation that indicates if a person qualifies to file for Chapter 7 bankruptcy, or if they can afford to make payments and file under Chapter 13. An attorney will fully understand how to use special circumstances to determine which filing is best.
Select and Apply Exemptions
Each state in the U.S. has a unique exemption system. This is used for keeping property when filing for bankruptcy. The attorney will understand how to use the exemption rules and protect a person’s assets as much as they can.
Some debts aren’t going to be wiped out or discharged during the bankruptcy process. Others are only going to go away if there are certain conditions that are met. A lawyer will explain the debts that will be eliminated, and which ones will survive the process.
When a person is facing financial issues, they have several options. Working with an attorney can help them determine if bankruptcy is the right one. More information about hiring a bankruptcy attorney can be found by contacting Joe Wittman and his staff.