When you file for bankruptcy, the ultimate goal is likely to get a fresh start, financially speaking. However, even with the importance of proper planning and execution of a bankruptcy, there are still a number of people who make the same mistakes time and time again when making preparations to file for bankruptcy. The first way to avoid these mistakes is to hire a South Jordan Bankruptcy Lawyer, and the second way is to know what they are.
Mistake: Hiring an attorney without prior time in bankruptcy court.
There is no shortage of attorneys. However, one of the biggest mistakes that can be made when selecting a lawyer for your bankruptcy is choosing someone who is not familiar with the various bankruptcy laws, or the proper process for filing. There are a number of parts of a bankruptcy that will require certain knowledge and an understanding of the process – if the attorney you hire does not have this, you will likely wind up with serious problems.
Mistake: Having various assets and selecting to file bankruptcy yourself.
If you do not have any assets, you may try to get through the filing process on your own. While this is not necessarily a bad idea, it does come with a number of potential risks. You will have to take calls from your creditors and any inquiries in regards to the reaffirmation of your debt. You will also have to appear at your hearing alone, and play the role of buffer between you and your creditors. If you do have assets, including bank accounts, retirement accounts, cars that do not have payments or a house, it is usually not a good idea to proceed without proper representation.
Mistake: Hiring a lawyer that never advises other options besides bankruptcy.
Filing bankruptcy is every person’s constitutional right. In many situations it will be the best solution for solving a particular issue. However, this never needs to be your very first choice. There are a number of downsides to filing for bankruptcy, which you should be aware of prior to filing. If you hire an attorney who does not advise against this, or at least provide you with an alternative, then chances are that you have only found someone who wants a new client, which also means that they are more interested in their own well-being, rather than yours.
