Filing for bankruptcy can be very confusing for those trying to go it alone. As an in-depth legal process, it is greatly beneficial to have a Jacksonville Bankruptcy Attorney to help you navigate your way through a successful bankruptcy. Here are some reasons why:
1. There are many calculations that must be done correctly. To file for bankruptcy, you must first know which Chapter you qualify for, a Chapter 7, 13, 11 or 12. One step to figuring it out is by completing a Means Test. This is complex thing to do. You must know things which deductions you can use for food, clothing, personal care, health care, housing, and many more. You’ll need to how the allowances for vehicles work and what involuntary deductions you can take. You must know how to list future debt payments correctly. And the list goes on and on. Without the proper knowledge and skill, this can be very difficult to do right the first time. If you do not do this correctly, the court could dismiss your case without a discharge, penalize you with fines or in rare cases, even send you to jail. Hiring a Jacksonville Bankruptcy Attorney would be beneficial because someone with knowledge and experience would be handling these issues, taking the stress off of you.
2. Another daunting task is drafting a Chapter 13 Plan. This Plan is very important, as it outlines your responsibilities over a three to five year period. You must know which creditors get paid, how much is required to go to unsecured creditors, and how to allocate the Trustee’s portion. You want to make sure that you get all the benefits you can through your Plan. It is not the job of the Court or Trustee to watch out for your interest, it is there job to be sure that the code is being applied properly.
3. A Jacksonville Bankruptcy Attorney can negotiate with creditors for you, if need be. We can dispute claims on your behalf or negotiate lesser amounts owed. If you hire us, then you will not have to deal with creditors on your own. Once creditors know that you are represented with regard to their debt, then they cannot contact you anymore. This can be a relief, especially if the creditors are calling multiple times per day or you have multiple creditors calling.
4. Time can be saved by hiring counsel. While it may only take an attorney a short time to fill out a document correctly, it might take you hours. An attorney is trained to know how to fill out the paperwork quickly and efficiently. Since you do not do this everyday, it will likely take you much longer.
These are just a few reasons to hire a Jacksonville Bankruptcy Attorney to file your bankruptcy. There are many more. Contact us today at 904-685-1200 to set up a free consultation.