What Is The Role Of A Bankruptcy Lawyer?

 

Bankruptcy is a very complex procedure that requires you to make a lot of critical decisions from time to time. An experienced bankruptcy lawyer can pave a way out through this big maze of decisions, paperwork and procedure that marks a bankruptcy filing. 

If you’re wondering about the role of a bankruptcy lawyer, you must know that there are many. On the offset, a bankruptcy attorney is there to counsel you on the bankruptcy process and whether it is right for you. They help you look at your debts and assets determine if bankruptcy is the path that will best help you or if a smarter approach is required to improve your circumstances from an entirely different angle. 

However, a bankruptcy lawyer can also help you ascertain if bankruptcy is the right decision for you. In case it appears to be the right solution for you, then a lawyer can help you compare your options. This is a very important decision and will involve you and your attorney examining the size and makeup of your debt, the assets you are willing to risk in bankruptcy, and your ability to repay your debts or a portion of your debts, among many other considerations.

Once you have selected your filing plan, a bankruptcy lawyer can help you make key decisions beforehand, which can prove to be very beneficial. For example, if you file for chapter 7, an attorney can help you know about your best options for keeping any assets that you do not want to lose to help pay off creditors. If you file for chapter 13, an attorney can work with you to figure out an ideal payment plan that you would be able to afford, or something that does not burn a hole in your pocket. 

When you are in the midst of your filing process, a bankruptcy lawyer can also help you gather and prepare the necessary paperwork, which focuses on your income, assets, debts and expenses. A bankruptcy lawyer also ensures that you see and respond to your deadlines on time. 

Bankruptcy also requires a lot of court hearings. This is where a bankruptcy lawyer can help you tremendously. A lawyer can ensure that your best interests are pursued. He will also have complete knowledge of the local procedures and the bankruptcy trustees in your region because approaches can vary from locality to locality.  

One should not forget that bankruptcy can be an extremely challenging, confusing and vague experience, and this is why a bankruptcy lawyer can bring in a great measure of clarity and ensure that all the operations are run smoothly. A lawyer can help you regain your financial footing. 

Kenneth Halpern has been helping his client solve various debt and foreclosure matters for more than 35 years. He is considered to be the best bankruptcy lawyer in Long Island and helps in the creation of individualized solutions to your situation. Hence, if you have any financial problems troubling you, he is the counsel to choose for yourself. 

Comments

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