About four years ago, I could tell that things were turning south with my business. Cash flow was tight, and customers simply weren't coming back to shop some more. I realized that if I was going to keep my house, I would need to do something to resolve my finances. Although it was scary, I decided to meet with a bankruptcy attorney. After I explained my situation, he helped me to understand the process and how to tell if it was a good idea or not. When I decided to do it, things started changing for me right away. This blog breaks down bankruptcy in layman's terms, so that you can decide whether or not it is right for you.
Because of the financial situation that you might be in, you might have decided that you are going to file bankruptcy. You might have already hired a lawyer, and your lawyer might have already gotten started on the process of helping you file bankruptcy. In fact, it might actually almost be time for your lawyer to file your bankruptcy documents. There are a few important things that your lawyer should do before going through with filing your documents for you, though, such as the things listed here.
Help You Be Sure You're Making the Right Decision
If your bankruptcy documents have not yet been filed, then you still have time to change your mind. Many people find that filing bankruptcy ends up being one of the smartest decisions that they have ever made. However, it's not as easy as some people think, and there are some consequences as well, such as the impact on your credit score. Your lawyer should take the time to answer any remaining questions that you might have and to fully explain what you are getting yourself into before filing your paperwork.
Checking Your Documents Over for Accuracy
It is very important for all of your bankruptcy paperwork to be filled out properly. If it isn't, then your bankruptcy case could be in jeopardy. In some cases, you can even face legal consequences if your bankruptcy documents are not filled out thoroughly and accurately. Therefore, a good bankruptcy lawyer should take the time to look over all of your documents to make sure that nothing is missing and that everything is correct. They should go over this with you, so make sure that you point out any possible errors that you might see.
Letting You Know About the Next Steps
Of course, the whole reason why you might have hired a bankruptcy lawyer in the first place might have been because you wanted them to do most of the work for you. It's true that your bankruptcy lawyer and their team should take care of most of the work for you, but this doesn't mean that there aren't next steps that you will need to take. You will probably be required to attend various hearings and court dates, for example, and you might still be required to take financial literacy classes. Your bankruptcy lawyer should tell you about any steps that you might need to take after they file your paperwork so you will be prepared and will know what to do next.
For more information, contact a bankruptcy attorney near you.
Share3 January 2022
