The Importance of Hiring a Bankruptcy Attorney

Hiring the right bankruptcy attorney is important for people as they go through a very difficult time in their life.  There is less stress and a greater chance of overall success when you have an experienced professional guiding you through the bankruptcy process. Receiving guidance from someone who understands the details of the bankruptcy laws is important and beneficial, Philadelphia attorney, William D. Schroeder, Jr. explains why. 

Bankruptcy laws are complex

Whether you are filing for bankruptcy as an individual or business, the laws surrounding bankruptcy are complex. Following the numerous changes that were passed by Congress in 2005, filing for bankruptcy is an involved and extremely tedious process. Bankruptcy attorneys are familiar with the laws and numerous changes that have occurred. They understand the bankruptcy process, events, issues and  how judges and trustees handle these laws.

Filing for bankruptcy requires you to reconstruct the last 24 months of your financial past, including income and expenses. Failure to include any relevant information in your bankruptcy schedule can lead to problems and cause you to have to pay money to your creditors or lose property that would otherwise not happen. With an experienced attorney helping you, you can be certain you are taking full advantage of the benefits bankruptcy has to offer without loss of money or property.

hapter 7 bankruptcies in particular are fairly complex and require plenty of additional calculations, as exemplified in our other article, Chapter 7 Bankruptcy – Advice from Bankruptcy Attorney William D. Schroeder, Jr. Regarding High-Income Debtors. 

Advice goes a long way

People who are determined to proceed through the ordeal of bankruptcy on their own due to personal or financial reasons must be very careful; there are pitfalls which one does not see by simply reading the statute. Attorneys who have experience know what to look for, what methods will work and what will not. They know how to present the information on the bankruptcy petition, which forms are needed and what trustees will be looking for on these forms. Furthermore, an experienced bankruptcy attorney will give you an idea of how bankruptcy cases proceed and what you can expect in terms of questions and investigation from the trustee.

Creditor harassment will stop

Once creditors learn that you have an attorney helping you, they are less likely to harass you as the filing is prepared. This also makes the collection process easier; your attorney will stop your creditors from harassing and collecting money from you.

If you are in the Philadelphia area and are in need of advice from a trusted bankruptcy attorney, William D. Schroeder, Jr. possesses a wide range of bankruptcy experience to help you. Concerning individual and business cases, he has the knowledge needed to move you through your case as painlessly as possible.