Lawyer William D. Schroeder Jr. Answers the Question: What are the Benefits of Hiring a Philadelphia Bankruptcy Attorney?

While most people know that bankruptcy attorneys are available, when they are facing significant financial hardship, few people truly understand the role of the bankruptcy attorney and how an attorney will protect client assets and lead you through the process. When a bankruptcy attorney is consulted early, he can provide important, accurate information that can make the process as simple as possible. Philadelphia attorney William D. Schroeder Jr. explains the benefits of hiring a bankruptcy attorney.

Immediate Protection from Creditors

One of the most challenging elements of having a significant amount of debt can be the number of calls received from creditors throughout the day. This can have a psychological impact that makes day-to-day life exceptionally stressful. Hiring a Philadelphia bankruptcy attorney can help alleviate this stress.  Your lawyer will advise creditors to cease communication with you; you can tell the creditors to stop calling you and contact the attorney directly for future actions. Additionally, your attorney will know which debts can be discharged and what property can be protected so he can inform clients about what to expect.  Knowing this information and knowing that they have a skilled advocate fighting for them provides a great deal of reassurance to many clients.

Halt Foreclosure Proceedings

When people have particularly large debts, they may be at risk of losing their home through foreclosure. Many people do not realize that a qualified bankruptcy attorney can help stop this process. Information will be reviewed and documents are gathered and a plan to deal with the debts will be provided. An experienced attorney can stop the foreclosure proceedings altogether, and can often facilitate a reduction in payments.

Knowledge of the System

Hiring a bankruptcy attorney provides the individual with immediate access to comprehensive knowledge of the legal system and the bankruptcy process. There are many rules that are confusing to people; some of them can cause problems for filers if they are unaware.  An attorney can answer all questions and ensure the right strategy is taken for the client’s particular situation. A good attorney’s advice will help prevent the filer from making costly errors that could get him/her into trouble or cause the bankruptcy proceeding to fail or the filer to lose property. A bankruptcy attorney will help the individual navigate the process with less stress and the filer will regain personal and financial freedom.

Guidance in Selecting the Right Type of Bankruptcy

A qualified bankruptcy attorney will help clients decide which type of bankruptcy is right for them, or if bankruptcy is even the right move for them. For example, the attorney can explain the differences between Chapter 7 bankruptcy and Chapter 13 bankruptcy, noting the various benefits and costs for each option.   This ensures that the action taken by the client is the ideal approach for the particular case.

By working directly with a trusted bankruptcy attorney, local Philadelphia clients can consolidate their legal costs and protect their assets over the long-term. To discuss this subject with an experienced bankruptcy lawyer who has been helping people for over 30 years, contact lawyer William D. Schroeder Jr. directly at 215-822-2728 or visit the website at