the downfalls of filing without a long island bankruptcy attorney
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Filing bankruptcy without an attorney can have negative consequences for those attempting to file in Long Island. Find out why an attorney is essential as you file for bankruptcy.TRANSCRIPT
The Downfalls of Filing without a Long Island Bankruptcy Attorney
Many Long Island residents filing for bankruptcy are already in financial strain to
the extent that they believe they can save money by cutting out an attorney from
the process. While the fees of an attorney may seem like a reasonable deterrent,
the risks of filing without an attorney far outweigh the short term financial savings.
Throughout the entire process a Long Island bankruptcy attorney plays a vital
role in ensuring the success of your filing.
For many who choose to represent themselves, problems arise at the very onset
of the filing process. Before you even start the paperwork, a Long Island
Bankruptcy attorney provides critical insights as to whether to file under Chapter
7, 11 or 13. In some cases, the attorney may determine that you shouldn’t file for
bankruptcy at all and instead seek other financial alternatives. Filing under the
wrong chapter could be a costly mistake as many lose valuable property or
increase debts during that time.
Once you have determined that filing for bankruptcy is the best course of action,
an attorney will guide you through the process and ensure that all forms are
properly filled out and submitted. Without the help of a bankruptcy attorney Long
Island courts can be difficult to navigate, especially when it comes to choosing
the right property exemptions and filling out documents specific to your local
courts.
Another important aspect of filing with a bankruptcy attorney is knowing the
difference between credit counseling and financial management. If you file with
either Chapter 7 or 13, you are required to receive credit counseling from an
approved source and also complete a financial management course before you
can officially file for bankruptcy. Many people who file without a bankruptcy
lawyer fail to provide the proper certificate and thus do not meet the
requirements.
Finally, if a creditor challenges that the debt is able to be disregarded, a person
who is representing themselves does not have the proper training or knowledge
to understand the significance of such actions and be able to defend against it.
Common problems include not being able to adequately defend against an action
seeking denial and illegible, handwritten motions.
Utilizing a Long Island bankruptcy lawyer is essential as you prepare to file for
bankruptcy and plays an essential role throughout every step of the bankruptcy
process. A small investment now in a bankruptcy attorney’s fees can save you
money in the long term and expedite filing for bankruptcy.
If you cannot afford or believe you have enough experience and the appropriate
background to represent yourself, consider seeking legal advice from a Long
Island bankruptcy attorney. Full representation is not always needed, but it is
best to present your case to an attorney and avail the expert advice.
Choosing to file with bankruptcy without an attorney brings with it severe financial
and legal consequences that should be avoided at all costs. Failing to meet the
requirements of the court ultimately delays, if not completely hinders, your ability
to file bankruptcy and move on to creating financial stability. For more information
visit us at http://www.ny-bankruptcy.com