Declaring bankruptcy may be the best option for you to reorganize your debt and work with creditors you can no longer afford to pay. The loss of a job, an illness or some other unforeseen problem can cause you to fall behind in your bills and lose control of your finances completely. If you are facing such a situation, hiring a bankruptcy lawyer may help you regain some control by allowing him or her to act on your behalf as you begin the bankruptcy process.
1. A Lawyer Can Intercept Debt Collection Notices
Once you allow a lawyer to represent your bankruptcy case, he or she can begin to intercept debt collection letters and other notices and contact your creditors to inform them all future correspondence must be sent to the firm you are working with. When collectors can no longer contact you directly, this can give you great emotional relief and give you the confidence you need to start rebuilding your financial stability, even if you still have a considerable amount of debt.
2. They Can Halt Harassing Phone Calls
When you do not have the means to pay your bills, creditors and collection agencies usually begin calling day and night in an attempt to collect what they are owed. Once you hire a bankruptcy lawyer, he or she can halt these calls by dealing with your creditors directly. In most cases, once you begin bankruptcy proceedings and obtain legal representation, collection agencies and other debt collectors are no longer permitted to call you.
3. Court Representation
If you are sued by one of your creditors for the amount of money you owe, having a lawyer on your side can prevent the courts from making a rapid judgment on their behalf. A bankruptcy lawyer can also represent you in the courtroom and free you from having to make appearances, giving you the time and energy to focus on recovering from an illness or finding employment.
4. Collection of Data
Gathering all the required papers, forms, and other data for bankruptcy can be overwhelming, especially when you are trying to work with creditors on your own. An experienced attorney can take over this process for you and prepare your case with efficiency. Remember to present your lawyer with complete information and compile a list of your creditors so the firm does not have to delay in preparing your case.
Enduring a bankruptcy can be difficult; however, it may be the first step in helping you regain a financial foothold. Contact a bankruptcy lawyer in Memphis, TN for more information on how one can assist you with organization, representation and more.
Thanks to Darrell Castle & Associates for their insight into bankruptcy law and how a lawyer can help.