Today, a financial crisis can befall anyone within the blink of an eye. If you are facing a financial crisis, then find expert attorneys like Hawaii business lawyers – Cain & Herren. Lawyers are crucial if a person is to survive the onslaught of the mounting bills and notices that come with rising debts, and the worst consequence of all this-Bankruptcy.
Websites like the US government’s law portal http://www.uscourts.gov/services-forms/bankruptcy/filing-without-attorney, have pointed out the pitfalls that are associated with filing a bankruptcy case pro se, that is, without the aid of a qualified bankruptcy lawyer.
What is Bankruptcy?
Often, people will require funds, for business activities or personal activities, which are way beyond their income. At such times, it is but natural to borrow the amount, either from financial institutions or private money lenders. Often, these sums are borrowed at high rates of interest that accrue either on a monthly basis or annually. If the amount and interest are repaid on time, then there won’t be any trouble.
The problem starts when the person is unable to pay these amounts. Interest keeps mounting, creditors come knocking, and the borrower sinks to the inky depths of debt. When it becomes finally clear that the debtor cannot repay the amount, he/she has the legal option to file for bankruptcy in a court of law. These proceedings should be initiated by the debtor, only when all means of recourse have been explored and consequently found to be fruitless.
In such situations, it becomes crucial to hire the services of lawyers who are proficient in financial laws, with particular emphasis on Bankruptcy laws. Though it is possible to represent yourself in a bankruptcy case, most legal experts advise against it. Going Pro Se might seem like a money-saving tactic, but it could cost you a lot in the long run.
A good bankruptcy lawyer will be able to guide you in the following areas:
1. If there are any other ways to discharge the debts, apart from filing for bankruptcy.
2. If there is an actual need to file a bankruptcy petition.
3. Which bankruptcy chapter to file, Chapter 7 or Chapter 13.
4. If you will be able to salvage any of your property from the proceedings.
5. If any taxes need to be paid
6. Whether by filing bankruptcy, the debts can all be discharged.
7. All the legal aspects and formalities of the court proceedings, etc.
These services can only be done with the timely assistance of an expert bankruptcy lawyer. It might seem like a daunting task. After all, where can we find such lawyers? One of the most easiest ways is to peruse through the pages of the local classifieds or directories. If that doesn’t help, try searching on the net. Many lawyers have a strong online presence, either through dedicated websites or online legal forums. Find the lawyer who has been dealing with bankruptcy cases for a long time.
Do not neglect to consult and avail the services of a good bankruptcy attorney, if you wish to make it at the end of the case successfully!