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Chapter 7 bankruptcy proceedings are a great way for those who are overwhelmed by debt to take charge of their financial futures. Through this legal action, it is possible for debtors to wipe their debt slates clean, which in turn gives these individuals a real chance at reclaiming their lives. Because this can be quite a complex process, many people find it advantageous to engage a bankruptcy attorney to guide them through the proceedings. Below are a few major benefits of hiring a knowledgeable bankruptcy lawyer.
While Chapter 7 bankruptcy cases can be settled relatively quickly — many in approximately 90 days — they are by no means simple affairs. There are a number of documents that debtors must submit prior to and during bankruptcy proceedings. Among them are:
- Schedules of assets, liabilities, income, expenditures, contracts and leases
- Employment payment statements
- Tax returns and bank statements
- Anticipated increases in expenses or income
- Certificates of credit counseling
The failure to properly provide required documents can result in serious consequences. In severe cases, bankruptcy courts may even revoke a filer’s debt discharge if it is discovered that important information was not produced during the proceedings. Filers can protect themselves against such negative outcomes by engaging a bankruptcy attorney who can ensure that any required documentation is delivered.
During Chapter 7 bankruptcy, filers are allowed certain asset exemptions. These can be a key part of a filer’s ability to successfully emerge from their debts, so it is important that they take advantage of as many exemptions as possible. Our bankruptcy attorney can make sure that all applicable exemptions are appropriately identified and used. Problems can be avoided by having a bankruptcy attorney review the progress of a case to make sure that all property transfers are executed properly.
Hiring a Chapter 7 bankruptcy attorney can help you stay on top of your legal obligations, as well as take advantage of any benefits for which you may qualify. The DiTocco Law Group, PLLC, has years of experience in helping people navigate the bankruptcy process, and has a proven track record of obtaining beneficial results for its clients. If you are looking for a bankruptcy attorney in Fort Lauderdale, contact us today for a free consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.