How do we file bankruptcy, and why do we need a bankruptcy lawyer?
How Do We File Bankruptcy?
When filing for bankruptcy, you'll need to gather financial records and submit a petition, schedules, and statement of financial affairs. You can download these forms for free from the U.S. Courts' website. The Chapter 7 bankruptcy forms include a voluntary petition for relief, schedules of assets and debts, and a statement of financial affairs.
The next step in the bankruptcy process is to file a discharge petition. This is a formal written statement that gives the key information in your legal case. It must describe the events that led to your filing for bankruptcy and your current financial situation. You'll need to have sworn your statement before a notary public or commissioner of oaths. This affidavit must be supported by evidence that supports your application.
While bankruptcy can be a scary thought, there are many benefits to filing for bankruptcy. It will eliminate certain debts and help you regain control of your finances. Bankruptcy also helps you rebuild your credit before being discharged. Your personal property and belongings will not be seized by the government, but proceeds from these assets will go toward your creditors.
In order to file for bankruptcy, you must demonstrate that you are unable to pay your bills. Bank account records, retirement statements, and money transfers should be available. If you have trouble producing these documents, you can hire a bankruptcy attorney to help you.
Why Do We Need a Bankruptcy Lawyer?
A bankruptcy lawyer helps clients file for bankruptcy, which can help them to reduce their debt. Bankruptcy has many advantages, including getting your debt eliminated, reduced, or reorganized. Additionally, creditors are more likely to accept a lower amount of payment than no money at all. However, bankruptcy can also cause you to lose your property and business. You can avoid these problems by hiring a bankruptcy lawyer to help you file for bankruptcy.
First, you should choose an attorney who is familiar with bankruptcy laws. Bankruptcy lawyers need to know all of the federal laws. They must also have extensive experience. The process of bankruptcy can be complicated, so hiring an attorney can make a world of difference. A bankruptcy lawyer can provide you with a free consultation or a low-cost initial consultation.
A bankruptcy lawyer can also help you organize your financial records. It's common for individuals to worry that they won't have all the necessary paperwork, but a good attorney can help you locate and present any missing documents. Keeping your records organized can also help prevent creditor requests for a 2004(a) examination. This is a more detailed examination of your financial situation and can be initiated by creditors who think something is hidden or not claimed.
Having a bankruptcy lawyer guide you through the process will save you hours of research. Moreover, it will make the whole process less stressful. Whether you have a simple filing or a complex case with hundreds of filing documents, a bankruptcy lawyer will help you navigate the process.
If you have any questions, you can get a free consultation with Ascent Law LLC:
Ascent Law LLC:
8833 South Redwood RoadSuite C
West Jordan, UT 84088
(801) 676-5506
