Life can be unpredictable. At one point you are doing fine, at another point you are burdened with debt. When this time comes and you need to file for bankruptcy, consider hiring a Philadelphia bankruptcy attorney. You may be wondering why you need an attorney, instead of representing yourself and saving the attorney’s fees? Well, here is why.
Records Show You Should
Statistics show that individuals who filed their bankruptcy “pro se”, that is on your own, had a very low level of success. They show that you will be in a better position when you hire a bankruptcy lawyer than when you decide to represent yourself, and rightly so. Going by the reports of Ed Flynn of the American Bankruptcy Institute, lawyers managed to eliminate or discharge debts of 428,097 out of 486,347 Chapter 7 cases. This number represented about 96% of those cases in 2017. Only about 66.7% of individuals who filed “pro se” were successful. In Chapter 13 bankruptcy cases, lawyers were successful 41.5%, while those representing themselves recorded success of just 2.3%.
Bankruptcy cases are quite complex. There are so many processes and documents that you need to present and interpret. Without legal knowledge, your chances of success are extremely low. A lawyer will give free consultation and advice you on the alternatives you have. It is not always the case that when you face financial difficulties that you should file for bankruptcy. There are times you have an option that you might not see, but which a good lawyer will see.
Takes a Lot of Time to File Such Cases
While it is allowed in law to file such cases “pro se”, the process involved is not only cumbersome but also very complicated. You need to understand the legal language and proceedings and file your case in a certain manner for your petition to get to a judge. You need to know all the paperwork to file depending on either Chapter 7 or 13. If you miss one of these documents, your case has a high chance of getting dismissed. A lawyer would know the requirements of such cases and would help you file such cases with ease.
A Lawyer Will Argue Your Case Better
If you are successful filing your case and you manage to get it to court, there is the issue of arguing your case. Again, you require legal knowledge to know how to proceed and the legal channels to adhere. If you fail to follow these channels, you can have your case easily dismissed. A lawyer would know those channels and would be in a much better position to argue your case out.
Negotiating with Creditors
Negotiating with creditors can be very frustrating especially when you are going through a financial crisis. Lawyers have experience negotiating in cases of reaffirmation agreement that allows you to keep your properties such as a house or a car. Lawyers will also help you get an affordable repayment plan, ensuring that creditors don’t take advantage of your situation.
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