If you are filing bankruptcy, you have the right to do so without a lawyer’s assistance. However, representing yourself can turn out to be the worst decision of your life in this regard. An experienced legal professional is the only one who can immediately pinpoint the points of arguments that will definitely arise during the case proceeding. In the initial planning phase, you might feel that bankruptcy is the only way to achieve ultimate peace and end all the financial troubles. But it may not be so according to the advocate. The person can actually provide you with better alternatives.
Deciding the type of declaration
You can declare bankruptcy under various chapters. It depends on what goals you want to accomplish and how the process will help you. One chapter can help to get rid of all the debts within a short period. But the same chapter is not feasible when you have a house on mortgage. You won’t be able to save your asset. The bankruptcy lawyer huntsville will tell you about the pros and cons of the sections. Then both of you can sit together and decide which will be the better way to solve the problems at hand.
It is mandatory to prepare for bankruptcy. You have to undergo the means test to calculate whether you qualify for a specific Chapter. The attorney can help by providing special circumstances as a factor to consider wherever applicable. It is also important to evaluate the assets and disclose the correct amount, which is only possible with the help of the advocate. You might not have any idea about the exemption system that will help protect your assets as much as possible. The lawyer will also let you know about the debts that won’t have elimination even if you declare bankruptcy.