Do you have unmanageable debt? Are you thinking about filing for bankruptcy protection?

Last year, a record number of bankruptcies were filed in the United States, and many individuals are preparing to use bankruptcy protection this year. Filing for bankruptcy can be beneficial to your financial situation, but state laws may vary. You need to have an experienced bankruptcy lawyer helping you to decide if it will be the right choice for your situation.

Read on to learn some more reasons to hire a lawyer and find out why bankruptcy protection is the best choice for you.

1. Bankruptcy Lawyers Can Help You Keep Your Home and Other Assets

When you file for bankruptcy, you must appear in court. A bankruptcy lawyer can help you navigate the legal system and represent you before the judge. They can also help you keep your home and other assets by negotiating with your creditors.

In addition, working with a lawyer can help you understand the bankruptcy process and what to expect during your case.

2. Bankruptcy Lawyers Can Help You Design a Repayment Plan That Creditors Will Accept

When you file for bankruptcy, you must devise a repayment plan to send to your creditors. This can be difficult and daunting, especially if you are unfamiliar with bankruptcy.

A bankruptcy lawyer can help you design a repayment plan that is realistic and that creditors will be more likely to accept.

3. Bankruptcy Lawyers Can Help You Negotiate With Creditors

It can be hard to keep up with creditors when you struggle to pay your business finances. They may call you constantly or send you threatening letters due to company financial issues. A bankruptcy lawyer can help you by negotiating with creditors or try to get them to accept a lower amount than what you owe.

4. Bankruptcy Lawyers Can Help You Understand the Bankruptcy Process

One of the reasons to hire a bankruptcy lawyer is because they can help you understand the bankruptcy process. This is beneficial because the process can be very confusing. A lawyer can help explain it in a way that is easy for you to understand.

They can also help you determine if bankruptcy would be the right option for you. They can also help you explore other options available. To know the steps on how you will file for the chapter 11 bankruptcy, check this guide out.

5. Bankruptcy Lawyers Can Rebuild Your Credit

In general, attorneys excel at ensuring that your case progresses efficiently. This will permit you to fully appreciate your new beginning.

Occasionally, however, subsequent occurrences warrant consideration. If a creditor attempts to collect a debt that was discharged in bankruptcy, your attorney can help you resolve post-bankruptcy discharge violations.

In addition, a large number of attorneys offer credit score repair guidance. As soon as your case is resolved, they will offer helpful advice on how to take advantage of the offers you will undoubtedly receive.

Hire a Lawyer if You Will File for Bankruptcy

Facing bankruptcy can be a daunting task, but you don’t have to go through it alone. Hire a lawyer so they can help you navigate the process and ensure that you are taking the right steps to protect your assets.

Don’t wait until it’s too late to get the help you need. Contact a bankruptcy lawyer today to get started. Looking for more legal advice? Read more on the blog to discover best practices in different fields of law.