Americans disagree on plenty of things in 2019, but one thing that the vast majority share in common is a substantial amount of consumer debt. In fact, the average American had $38,000 in personal debt in 2018, up nearly $1,000 from the previous year.
If your debt has reached a point where you are struggling to make rent or mortgage payments, or fear that you may lose vital assets, such as the car you use to drive to work each day, you may feel like you have no options. If this is your situation, it is essential to know that it is surprisingly easy to work with a chapter 7 bankruptcy lawyer. These experts will help you negotiate the complex, but rewarding, process of securing a fresh, debt-free start.
There are multiple reasons why securing an attorney to help you deal with your debts is a natural, smart decision. Remember, you are not the first individual in need of debt assistance, nor will you be the last.
1. Chapter 7 bankruptcy lawyers have seen it all before
When you are in the midst of debt issues, you tend to feel trapped in what seems like a uniquely challenging situation. In reality, bankruptcy attorneys handle cases like yours all of the time. In fact, they have almost certainly helped individuals much deeper in debt than you.
If you seek out assistance with bankruptcy experts, they will assist you with sorting through the admittedly complicated Bankruptcy Code to determine which kind of bankruptcy is right for you. In Chapter 7 scenarios, these attorneys will help you understand the impact that your filing will have on your finances, property, and credit. They can also dispel the problematic myths that frighten debtors, such as the mistaken notion that a Chapter 7 filing destroys one’s credit.
2. Attorneys will ensure that you receive the protection you deserve
Bankruptcy filings require knowledge of both federal and state law. The right chapter 7 bankruptcy lawyer will make it easy for you to negotiate the necessary systems. These experts know from experience that filing for bankruptcy brings with it a wide range of protections for the filer and will fight to ensure you receive them.
For example, chapter 7 filing shields you from the smothering debt collection activities that likely have cut into your quality of life. An attorney can ensure that creditors comply with chapter 7 regulations so that you are not harassed or misled into making additional payments.
A top-notch bankruptcy lawyer will also ensure that you get to keep as many of your assets as possible. Chapter 7 filings are sometimes referred to as “liquidation” cases. This terminology is frightening at first, seemingly implying that everything you own will be sold off. In reality, experienced attorneys are often able to walk their clients through a “no asset” chapter 7 filing. This version takes full advantage of available protections to help you keep your most valuable property.