It is possible for you to go through bankruptcy without an attorney. However, it is a good idea for you to hire a bankruptcy lawyer in Lutz.
There are several reasons that you should hire an attorney, such as:
Assess Your Financial Situation
An attorney can give a thorough assessment of your finances and give you the best financial advice possible. Additionally, your attorney will tell you about all of the rights and responsibilities that you have as a consumer.
Explain the Alternatives
Bankruptcy might not be the best way to get your finances under control. Your attorney can discuss the different options you have. In many cases, people are able to get their finances under control by making a few changes in their lifestyle.
Inform You of All of the Laws
There are a lot of bankruptcy laws that will likely apply to your situation. Your bankruptcy lawyer in Lutz will make sure that you understand all of the regulations. They will also make sure that you follow all of the steps necessary for filing for bankruptcy. Mistakes can delay the process, which is the last thing you want when time is of the essence, financially.
Decide the Type of Bankruptcy to File
Chapter 7 and Chapter 13 are the most commonly used options available to consumer debtors. Chapter 7 is something that you can get through in just a few months and it will also wipe out most of your debts. However, if you are behind on your mortgage payments, then you might not be able to save your home by filing for Chapter 7 bankruptcy.
Chapter 13 bankruptcy allows you to repay your debts without having to give up your assets. You will repay your debts over the course of three to five years. It is ideal for people who have a stable source of income and want to keep their property.
Like us on Facebook for more updates.