Do You Really Need A Bankruptcy Lawyer?

Gone are the days when people used to take filing bankruptcy as a “do-it-yourself” kind of project. These days, the laws have become so complicated that it is almost impossible for a person to handle his or her case without availing the valuable services of an expert bankruptcy lawyer.

The Introduction Of The New Laws

Especially, since the time the new laws have come into effect, things have become much more difficult. Earlier, people had the liberty to choose the type of bankruptcy they wanted to file for. It was optional for them to file their cases under chapter 7 or chapter 13. However, the new bankruptcy law has now introduced some restrictions regarding this. Now, it is mandatory for everybody filing for bankruptcy to go through a means test and a government approved credit-counseling service. It is only if you fail the means test and even the credit counseling is not much of a help for you, you can file under chapter 7 for a straight bankruptcy.

Laws Vary From State To State

It is also important for you to understand that the different states have their own set of laws. Especially, the exceptions of various assets and properties have been defined differently in each state. Some states have been very liberal towards the debtor while some other states have been favorable to the creditors. Therefore, in order to make the best use of the laws in your favor, you need a bankruptcy lawyer who is an expert in this field and knows the intricacies involved in the process. This is where an online bankruptcy lawyer may come to your rescue.

The Importance Of An Expert Legal Professional

As we can see that there are lots of complications involved in handling a bankruptcy case. Therefore, you just cannot ignore the importance of an expert legal professional. A bankruptcy lawyer is an expert person who is aware of all the ins and outs of the concerning laws. However, it is important for you to make sure that the bankruptcy lawyer you are hiring has a license to handle bankruptcy cases in your state. What is more, he or she should also be aware of the new law changes that have been introduced a few years back. In particular, you have to be more careful in choosing a business bankruptcy lawyer. Business cases are usually more complicated and the lawyer must have expertise in handling the same.