If you need to file for bankruptcy, you may not use a lawyer, but that's not always wise. Whether your case falls under Chapter 7 or Chapter 13, you can end up spending more than you'd ever save not hiring an attorney.

If you want to know how exactly a bankruptcy lawyer can help you, the following should give you a good idea:

Stage I - Planning

Any Bucks County social security lawyer will always begin by determining the type of bankruptcy case that must be filed, depending on the specifics at hand. Chapter 7 and Chapter 13 are made for different scenarios and goals. For example, Chapter 7 will eliminate much of the debt in a short period, but you can't save your house if you're not updated with your payments. In any case, a bankruptcy lawyer will advise you on the best path to take.

Stage II - Preparation

Property Valuations

Do you know how to value your possessions, such as your antique dining table or your flatscreen TV? With a lawyer, your assets will be declared and valued as accurately as possible.

Choosing and Applying for Exemptions

A lawyer is the best person to decide how your state's exemption rules can be used to protect as much of your assets as possible.

Debt Discharge

There are some debts that won't be eliminated or discharged in bankruptcy. Others may be wiped out only after you have met certain conditions. A lawyer can tell you which are which.

Step III - Bankruptcy Filing

Scheduling and Paperwork

The process requires filing pages of financial details in relation to your debts, income and assets, and expenses, and your most recent financial transactions.

A bankruptcy lawyer can give you advice on a host of issues, such as what you should disclose, what constitutes income, which tax returns to supply, and so on.

Ensuring a Correct and Complete Testimony

When you speak in court or even during meetings with your creditors, you will swear that you're telling the truth. In simple terms, an attorney will make sure that your testimony is complete and accurate so you can avoid being charged with perjury.

Dealing with Creditors Who Ignore the Automatic Stay

There are creditors who just won't stop collecting even when the borrower has already filed for bankruptcy, and this is against the law. Should that happen, a lawyer can take legal action against the creditor.

Negotiating with Creditors

Finally, if you have a Chapter 7 case, your attorney can negotiate with a secured creditor that might allow you to keep your house as well as your car. For a Chapter 13, your lawyer will work out a deal with your creditors as to favorable collateral requirements, payment terms, interest rates.

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You can als visit this website to read about family law Bucks County.