When to Bring a Bankruptcy Attorney to Your Case

While it is not absolutely necessary to have an attorney when filing for bankruptcy protection, it is never advisable to forego legal representation. Surprises can happen when the magistrate begins discussing the case. Qualifying exemptions can be complicated, and even qualifying for a Chapter 7 bankruptcy petition can be difficult. And, no one filing bankruptcy wants a bad outcome to their submission, as it is easy to lose too much personal property when a sale can be ordered by the bankruptcy court. Peace of mind is important throughout the procedure, and having an experienced Brooklyn bankruptcy attorney like the legal professionals at Ursulova Law Offices can help provide that assurance.

Means Test Qualification

The first step in qualifying for bankruptcy is application of the means test. Anyone who cannot qualify for Chapter 7 bankruptcy will be required to file a Chapter 13 petition. Chapter 13 is essentially the repayment of all debt that cannot be discharged as unsecured, and the plan is typically a five-year program that must be approved by the court. It is fruitless and frustrating to file an unacceptable repayment plan, and creditors can complicate the issues as well. Having legal counsel advising on what to expect is always an advantage, especially when assets must be shifted beforehand to allow for a successful outcome.

Maximizing Discharged Debt

Understanding legal exemptions in a bankruptcy proceeding can be difficult for the common filer. It is never good to attempt claiming an exemption that will ultimately be refused by the court. The goal of any bankruptcy petition is to submit a feasible plan that includes maximum discharged debt while repayment of debts that could be settled outside of the petition with comprehensive legal representation. A bankruptcy attorney can do more than merely represent the case in court. They can also help with restructuring debt before filing to help the plan fit as acceptable to the court and other creditors.

Contact a Brooklyn Bankruptcy Attorney First

Never start a bankruptcy proceeding without solid legal counsel. In Brooklyn, always call Ursulova Law Offices first.