When to Seek Bankruptcy Help in South Florida
For many people, filing for bankruptcy is usually the most practical option to get their financial health back in shape. However, because bankruptcy cases involve complex legal issues, it can be daunting to navigate the entire process alone. While people can file for bankruptcy without legal representation, a report by the American Bankruptcy Institute (ABI) found that approximately 50% of people that filed for Chapter 7 bankruptcy without legal help succeeded in having their debts discharged.
On the other hand, 94% of people who file for bankruptcy with help from an experienced lawyer had their eligible debts discharged.
Do I Really Need a Bankruptcy Attorney in South Florida?
If you are NOT 100% certain that you can confidently do the following steps in a bankruptcy case, you should really consider at least discussing your situation with a South Florida bankruptcy attorney:
- Deciding the type of bankruptcy most suitable to your situation.
- Applying the bankruptcy means test.
- Valuing all your property.
- Determining and applying exemptions.
- Figuring out the best strategy for discharging eligible debts.
- Completing and filing all the paperwork on time.
- Negotiating with creditors and handling those who break the automatic stay.
- Modify repayment plans, if applicable.
What Happens If I File for Bankruptcy Without a South Florida Bankruptcy Attorney?
You could lose everything because of a seemingly simple mistake.
If you file incomplete or inaccurate bankruptcy paperwork, the judge might not hear your case. Consequently, you might be prohibited from refiling for bankruptcy for some time, or if you’re allowed to refile, you might lose protection against creditors. You also risk not getting your debts discharged and losing the possessions you’re trying to protect if you list your assets inaccurately. A bankruptcy attorney knows which assets you can save and protect.
You might end up spending more money instead of saving money.
Do you know what to do to ensure that your bankruptcy discharge will not be affected when communications between your creditors and bankruptcy trustee go awry? Do you know how to respond when a creditor disputes your discharge or files a lawsuit against you? An experienced bankruptcy lawyer in South Florida will protect your interests, communicate and negotiate with everyone involved in your case, and save you more money.
You could face criminal charges for perjury or fraud.
Committing fraud or perjury during your bankruptcy case can lead to criminal penalties, including jail time. You can’t conceal any income or assets from the judge and bankruptcy trustee, including those that you have not received yet. Your bankruptcy attorney will prepare and file your petition and list all your assets accurately in accordance with bankruptcy laws.
Seek Legal Guidance From an Experienced South Florida Bankruptcy Attorney Today
Talking to a bankruptcy attorney when you are considering filing for bankruptcy will enable you to explore the debt relief options available to you. Contact Brian McMahon, our South Florida bankruptcy attorney, to discuss your case and help you determine whether bankruptcy and which chapter is the best option for you. You can reach us at 561-658-1789 or online to schedule your free case review.