You are experiencing financial problems and you are wondering what to do. You have been scouring the internet looking for credit repair and debt management companies. As you study their fine print you realize that they charge exorbitant fees, are unregulated, you get no guarantee and resolution can take years.
Here are five good reasons why you should consult with a bankruptcy lawyer…even if you believe that you must avoid bankruptcy at all costs.
Good Bankruptcy Lawyers Offer Options
High-quality, experienced bankruptcy lawyers do not hand you a bunch of forms and send you down the path to bankruptcy. Instead, competent counsel will analyze the nature of your financial problems and your asset situation. Then, they will recommend alternative methods to deal with your debt issues if it makes sense to do so, and very often it does.
Bankruptcy Is A Landmine
Very often, people in financial despair turn to the internet or paralegals and decide that it is a good idea to try to file bankruptcy on their own. There is no possible way that a layperson can understand all of the twists and turns and intricacies of the myriad of issues that are involved in bankruptcy, such as exemption law (defining what you are allowed to keep). Filing bankruptcy without good legal help can often lead to your having your discharge denied. This results in permanent and irrevocable damage to your credit.
Bankruptcy Is Not Permanent
After 10 years, the fact that you filed bankruptcy cannot appear on your credit reports. In reality, bankruptcy has very little long-term impact on your creditworthiness. Most creditors are willing to extend your credit within a year or two of your receiving your discharge because you are in a lower risk pool (you cannot file bankruptcy again for eight more years and you probably have wiped out all of your debt pressures)
Bankruptcy Gives You A Psychological Edge
Financial distress can often lead to marital and family problems, not to mention health issues. The compassionate bankruptcy lawyer will recognize that you are experiencing these issues and ease your way through a process that, without the help of a lawyer, can be strenuous if not further damaging to your credit problems. You should be able to tell in the first 10 minutes of your meeting with a bankruptcy lawyer if they demonstrate a level of compassion and whether they are offering to immediately relieve the pressures you are experiencing. If instead, you feel that the lawyer is just treating you as a number, walk out and keep shopping.
You Aren’t Getting Any Younger
Credit problems can haunt you for most of your working lifetime. A negative credit history can persist for a minimum of seven years, and in some cases as long as 20 years. If you are in the prime of your working life, wouldn’t it make sense to seek a solution that would give you a fresh start within a matter of months? Wouldn’t you want that handled by a competent professional? As is the case with doctors, lawyers can achieve credentials to specialize in a certain field. If you are considering filing bankruptcy, find yourself in board-certified bankruptcy lawyer. They can be found at abiworld.org.
Julianne Frank is a bankruptcy lawyer practicing in West Palm Beach, Palm Beach Gardens, and Jupiter, Florida. She can be reached at (561) 220-2528.