Although engaging a bankruptcy attorney will incur additional costs, you will find that in the long run it is an investment in your future that will prove beneficial.
Congress has made numerous changes to the bankruptcy code in recent years, making it more difficult for private individuals to succeed in bankruptcy proceedings, which are already complex. Despite the fact that filing under Chapter 7 is relatively simple, it has become more expensive due to these new laws.
First, a test is administered to determine whether or not you can actually pay your debts. You are only exempt from this test if your income is less than the state's average income. If it is higher, you will be put to the test to determine if you qualify for bankruptcy.
The judge will require all evidence of inability to repay debts, as well as financial documents detailing your income and expenses. This is a difficult and time-consuming task, as you cannot omit any documents or you risk incurring penalties. Here is where a lawyer can be of assistance; he or she will plan and organize the best possible strategy when preparing for bankruptcy, in order to turn this procedure to your greatest advantage.
Many may assert that they successfully filed for bankruptcy without legal representation. However, this also depends on the specifics of their case and how long ago they filed for bankruptcy.
Since the Bankruptcy Reform Act of 2005, the bankruptcy laws have changed significantly, making the proceedings more complex and technically challenging. It is challenging enough for an attorney to keep up with the legal system, let alone a private citizen!
For this reason, it is essential to obtain professional advice for all bankruptcy-related matters today. After all, if you're fortunate, this will be the only time you have to file for bankruptcy, so it's best to proceed in the safest manner possible to achieve the best results possible.""
" - https://www.affordablecebu.com/