So you’ve found yourself in the position of having to file for chapter 7 bankruptcy, and you’ve also managed to find the right lawyer to help you along. But what exactly does this sort of lawyer do and why are they necessary for assisting you with your bankruptcy proceedings? Here are some of the basics of the job of a bankruptcy lawyer.
First, your lawyer will help you compile a list of all of your creditors, the people to whom you owe money. This is an important step to ensure that your bankruptcy includes all that you owe. Your lawyer can help you make sure that the list is complete by making sure that all creditors and their addresses are included in your claim. In addition to this, your bankruptcy lawyer will assist you in compiling a list of your current financial position, including your income, assets, and debts, as well as a few other critical things. If this information is incomplete or incorrect, you may lose your case, so your lawyer is there to make sure the information is complete the first time around.
Your chapter 7 lawyer will then help you file this information with the correct bankruptcy court. A big benefit to having a lawyer handling your case is that once you have hired one on, your creditors can no longer harass you. After the case is filed in the court system, for a chapter 7 bankruptcy you must attend one court meeting that is essentially to verify the information that your lawyer has previously filed for you. Your lawyer will attend this meeting with you to assist. These sorts of meetings are typically not very long and if your lawyer has handled everything correctly, you will have no problems answering any questions asked of you.
Other things a bankruptcy lawyer will do for you are explain what will and will not be covered under your case. Most debts can be erased, but for example, things such as student loans are generally not going to be covered. In situations such as these, your lawyer can further advise you on what to do to handle the situation. They may be able to offer you additional consolidation services to help with any debts that cannot be covered by a chapter 7 bankruptcy. They will also be there to answer any other questions you may have about your case and walk you through the process as thoroughly as possible.
Hiring a competent chapter 7 bankruptcy lawyer is highly advisable because as previously mentioned, you could otherwise lose your case. If this happens, you cannot file again for another eight years—a situation that you certainly want to avoid if you are already in over your head with debt!
