When you’re contemplating bankruptcy, it might seem contradictory to add to your costs by retaining a lawyer. After all, you have the right to file without help from a legal professional. However, unless your situation is very straightforward and you are very well-informed, hiring a bankruptcy attorney in Columbia, MD, will probably benefit you far more than it costs you. Here’s why:
Attorneys Help You Choose the Best Path
Your lawyer will provide valuable insight throughout the process, including deciding whether filing bankruptcy is right for you. There may be other, less drastic options for achieving financial peace of which you’re unaware. Furthermore, if you do file, a bankruptcy attorney will help you determine which type of bankruptcy best suits your circumstances.
Attorneys Prevent Costly Mistakes
Can you apply a means test to your situation correctly? Do you know how to disclose your assets and value them realistically? Will you be able to determine how best to select and apply exemptions? Fortunately, you don’t have to be an expert. Your bankruptcy attorney will handle the hard work and tricky questions for you so that you can file with confidence.
Attorneys Negotiate on Your Behalf
Whether you file for chapter 7 or chapter 13 bankruptcy, you will likely need to negotiate with creditors about aspects of your cases. Don’t do it alone. An attorney knows how to handle these negotiations and give you the best possible chance of a favorable outcome.