There are many individuals that try to carry out the bankruptcy process on their own. What they find is that it is highly complicated and stressful. The petition is very lengthy, an accredited credit counseling service has to be found, and there are court hearings as well. Because of the difficult nature of the process, most individuals choose to hire a Minnesota bankruptcy attorney to help them throughout.
Hiring an attorney is not overly expensive. It is much more affordable than paying the debt that needs to be eliminated. For the cost, your attorney is with you every step of the way so that you are never alone in the process.
Hiring An Attorney Reduces Stress
There are a number of reasons why hiring an attorney reduces stress. The first is that the attorney has an established process to determine what kind of bankruptcy an individual should file. All assets, income, and debts must be reviewed in order to make that determination. A means test is performed in order to determine whether or not Chapter 7 or Chapter 13 is appropriate.
When a person files on their own, it can be difficult for them to determine what kind of bankruptcy they should file. There have been cases where a person who should have filed Chapter 13 filed Chapter 7 and vice versa. This has resulted in loss of assets or a person defaulting on their Chapter 13 repayment plan because they truly didn’t have the means to pay back the debts like they thought they did.
An Effective Advocate Throughout The Process
In addition to ensuring that the right type of bankruptcy is filed, all paperwork is filled out properly, and that all other steps are carried out properly, you also have an advocate by your side. You have rights and those rights need to be protected. If something is happening in the process that is unfair, your attorney will speak up for you. Due to your Minneapolis bankruptcy lawyer’s extensive experience with bankruptcy law, you know that the bankruptcy process is being carried out fairly so that you can have the best possible conclusion in the matter. Ensuring everything is just right determines how well you are able to move forward after bankruptcy. If a detail is left out or a debt is accidentally not accounted for, it could cost you and make re-establishing credit much more difficult.
Contact A Minnesota Bankruptcy Lawyer
Bankruptcy is a complicated process. The petition is very extensive, credit counseling is required before you can ever file, and the process can be stressful. By hiring an attorney, you are able to reduce the stress and the difficulties that come with filing bankruptcy alone. You will always know what is happening, be presented with options so you can make the right decisions, and much more. To find out how the McKinney Law Office can help you, call the Minneapolis office at 612-206-3706 or the St. Paul office at 651-379-4110 for a free consultation.
This law firm is a debt relief agency, and we help people file for bankruptcy relief under the United States Bankruptcy Law.