Easy credit in the 1990’s and the economic recession have led to a perfect storm of financial trouble for a number of people. The stress caused by creditor calls and potential lawsuits has a terrible effect on a person’s mental well-being and physical health. As a result, many have turned to the Internet for its wealth of information concerning the process of bankruptcy, and many companies sell do-it-yourself bankruptcy kits. These offerings make people consider filing for bankruptcy on their own, without the use of legal counsel.
All that is required is the payment of the filing fee. However, this is a risky route to take with one’s finances. Bankruptcy laws exist on the state and federal level and it is a complex process. Basic guidelines and legal statutes are set in place by United States Bankruptcy Code, but their execution on the local level can be inconsistent. A Bankruptcy Lawyer Milwaukee Wi help filers not only to correctly and thoroughly prepare their petitions, but they can make sure that everything is done for maximum benefit.
Making the decision to file for bankruptcy should never be an easy choice to make. The disadvantages should be outweighed by the advantages. Proceedings will stop creditor harassment, lawsuits from creditors, wage garnishment, and will prevent property repossession and foreclosure. However, a lawyer will make the potential filer aware of the implications that bankruptcy has on credit and existing assets.
A lawyer can help make the decision whether to file for Chapter 7 or Chapter 13 bankruptcy by using the legally prescribed “means test.” The most important thing to keep in mind about preparing and filing a bankruptcy petition is accuracy. A lawyer will make sure that the papers contain all required information, and that all filing requirements are met. Any mistake will cause a petition to be dismissed. It would then have to be re-filed and the fees would have to be paid again in full.
A Bankruptcy Lawyer in Milwaukee Wi is the best advocate for rights in a time of need, and will protect the interests of their clients. They can also identify every opportunity to eliminate debts for a fresh start with the least amount of financial pain. Legal advice will be offered about keeping debt free in the future. This is worth every penny of their cost.
