Do I Really Need a Bankruptcy Attorney to File Initial Proceedings?Dallas Legal News
When it comes to your business and filing for bankruptcy, you don’t want anything to get skewed and you want the process to go as smoothly as possible. If this is your first time you are engaging in this process, like many other people in a similar situation, you want to ensure that everything works out so that you can start with the fresh slate that you have been promised. Many people wonder if they will be able to go through the bankruptcy process without an attorney or if, from the very start, it pays off to have an experienced attorney on your side.
Are You Legally Required to Have an Attorney?
In most types of cases, you are not legally required to have an attorney. The same can be said in bankruptcy cases. If you are filing for Chapter 7, 11, or 13 bankruptcy, you are not required to have an attorney. You are permitted to file on your own without ever stepping foot inside an attorney’s office. However, many people do not understand the protections they could be offered if they make the decision to move forward with their bankruptcy with the help of an experienced attorney. It might not always be a smart business decision to handle bankruptcy on your own, especially when it is something that you do not have prior experience in. Some aspects that you should take a closer look at include how complicated your particular bankruptcy situation is, how comfortable you are with handling your case, and the amount of income and property you have.
Sometimes, individuals have what is referred to as a “simple” bankruptcy case. This means that your household income is especially low, you have little in the way of property, or you have not made any property transfers or payments to creditors recently. Even the simplest Chapter 7 bankruptcy case could turn into something that is not as simple as you once expected and could require a lot of research to get things right. There are many state laws that apply to these cases, exemptions you might not be aware of, and rules that you did not learn. Some types of bankruptcy can become more labor-intensive than others, which means that you would be better off speaking with an attorney to help you retain your rights.
You Could Experience Lasting Pitfalls
Of course, not having an attorney on your side through the bankruptcy process could mean that pitfalls might occur. You might not be aware of all the adverse things that could occur before and during the bankruptcy process that could be avoided if you had turned to an experienced attorney. For instance, you might find that you might not have needed to file for bankruptcy in the first place or that you have filed for the wrong type of bankruptcy based on your particular situation. The paperwork might be causing you issues or be especially lengthy and something that an attorney could have handled for you. Any number of issues could pop up, leaving you in a desperate scenario.
There are many things that could occur during this unfamiliar process when you file for Chapter 7 or 11 bankruptcy. This is why it is imperative to have an experienced bankruptcy attorney on your side who can help you protect your assets through this difficult process and handle the complex issues that come about when you least expect them. At MJ Watson & Associates, our experienced attorneys have handled a wide variety of similar cases and are willing to speak with you about your options moving forward. Please contact us today for more information at (215) 965-8240.