Going through harsh financial times gives you new perspective. The things in your life that were once taken for granted are suddenly put in a different light. The issues that never got a second thought before now become important, including paying for groceries and finding free entertainment for the kids. When money becomes a luxury, a lot of things change. Priorities shift, and decisions have to be made about which bills have to be paid first. Another aspect that is important when debt becomes unmanageable is retaining legal counsel. Finding the best possible bankruptcy lawyer in New Orleans certainly deserves a lot of thought. There are several acceptable reasons to hire a lawyer when you need help with your financial hardship. Keep on reading for more details.
Protection against Application Mishaps
How much do you know about bankruptcy law? Honestly! Reading those few articles on the Internet are absolutely not enough to go calling yourself an expert. In fact, you may get into trouble when the facts are old and outdated. A lawyer reviews the paperwork that needs to be filed at the courthouse. Corrections are made if applicable, and case-supporting documents are added when petitions seem incomplete. If the judge cannot form a complete picture of your disastrous money situation, your claim will be rejected, or only part of your debt will be discharged.
There are several types of personal bankruptcy. The most popular ones are Chapter 7 and 13. In Chapter 7, the bankruptcy trustee cancels the bulk or all of your debts. You may be asked to sell valuable property to pay creditors. In Chapter 13 bankruptcy, you are allowed to keep your property, but will have to pay your creditors over a set period of time. In a way, you are reorganizing your finances and debt. Do you know which Chapter is right for you?
Peace of Mind
You know that a dedicated bankruptcy lawyer in New Orleans can avoid the hazards associated with filing bankruptcy. The lawyer will deal with your creditors, and keep them at bay once the petition has been registered at the courthouse. Through negotiations with the bank, you can continue to live in your house, and your car will not be repossessed. Those facts alone will help you sleep better at night. Ask your attorney for explanations if there is something you do not understand. Legal forms and letters can often be confusing.
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