Pressures related to financial difficulties can lead to a bankruptcy filing. The process of filing for bankruptcy is fairly complex, and in order to ensure you are filing under the correct type of bankruptcy and that all your paperwork is timely and correct, it can be extremely beneficial to have an experienced Kentucky bankruptcy attorney by your side. You may wonder just how an attorney can help with your bankruptcy proceedings. While there are a number of answers to that question, the short answer is that your Kentucky bankruptcy attorney will find the right way to protect your assets from debt collectors, while helping you get a second chance with your finances.
While it is permissible to file for bankruptcy on your own, statistics show that those consumers who hire a bankruptcy attorney tend to have much better results. According to debt.org, bankruptcy filers were represented by a bankruptcy lawyer 91.5 percent of the time for Chapter 7. In those cases where a lawyer was involved, 96.2 percent of the filers had their debts discharged or eliminated, while only 66.7 percent of filers who represented themselves had their debts eliminated. For Chapter 13 bankruptcy filers, consumers who represented themselves succeeded only 2.3 percent of the time, while those who had an attorney representing them had a 41.5 percent success rate.
What Should You Expect from Your Kentucky Bankruptcy Attorney?
Bankruptcy is a legal process, and, as such, the right decision is generally to have a bankruptcy attorney guide you through the process. Going into bankruptcy can cause significant anxiety; having a knowledgeable bankruptcy attorney by your side can provide peace of mind and considerably less stress. Bankruptcy attorneys generally provide the following services:
- You will receive an initial consultation (which is usually free) to get a comprehensive overview of your potential bankruptcy case.
- You will receive solid legal advice regarding your bankruptcy options, such as which type of bankruptcy to file, and whether you should use federal or state exemptions.
- Your Kentucky bankruptcy attorney will ensure all your bankruptcy paperwork is completed properly and filed on time.
- When your bankruptcy case goes to court, your Kentucky bankruptcy attorney will provide representation on your behalf.
If your Kentucky bankruptcy attorney feels your financial issues can find a better resolution through debt settlement or debt management, he or she will let you know this after your initial consultation. Your Kentucky bankruptcy attorney will ask for certain paperwork which supports your answers regarding your current assents, income, and amount owed. It is extremely important that you are totally honest with your bankruptcy attorney, as this allows him or her to make an accurate assessment of your financial situation.
Do You Really Need a Bankruptcy Attorney?
It is important to recognize that bankruptcy is a complex subject. Obviously, your creditors want to get paid and have little interest in your stated inability to pay. Unless you have significant experience in filing legal documents and have no trouble appearing in court to persuasively argue your case, you absolutely need a Kentucky bankruptcy attorney. Even a highly prepared consumer can lose his or her bankruptcy case because of one simple mistake. An experienced bankruptcy attorney keeps up with the changing bankruptcy laws, both federal and state, knows exactly which papers must be filed and which deadlines must be met. An experienced bankruptcy attorney knows the judges involved in the Kentucky bankruptcy system, therefore, knows what arguments they need to make to get results. Simply put, your chance of a good outcome to your bankruptcy filing rises significantly when you have an experienced bankruptcy attorney like Christopher Kurtz by your side.
How Do I Know Whether I Need a Kentucky Bankruptcy Attorney?
If you are experiencing any of the following financial issues, these are strong indicators that it is time to consult with a knowledgeable bankruptcy attorney:
- You find yourself unable to meet your monthly obligations;
- You are receiving constant calls from debt collectors and creditors;
- You are overwhelmed, and unsure how to approach what seems to be a mountain of debt;
- You have written bad checks;
- You have little cash flow, and
- You would need representation in court.
If you find yourself unable to repay your personal debts—and you qualify—a Chapter 7 bankruptcy attorney can help you get a fresh financial start. If you want to repay your debts, but need more time, a Chapter 13 bankruptcy attorney can help you negotiate a payment plan with your creditors, after reorganizing your debt.
How Much Will My Kentucky Bankruptcy Lawyer Charge?
Bankruptcy attorneys will usually either offer you a flat rate for your bankruptcy filing, or they will charge by the hour, after requesting a retainer, which is paid upfront and put toward what you owe the attorney. While your rates will vary, depending on where you live, and which type of bankruptcy you choose to file, generally speaking, it can cost from $1,000 to $3,500 for a bankruptcy attorney. It is important to discuss fees with your Kentucky bankruptcy attorney during your first meeting.
What Should You Expect When Working with a Kentucky Bankruptcy Attorney?
Your debt may either be lowered, erased, or reorganized, depending on the type of bankruptcy you file. When you file for consumer bankruptcy, you may lose some of your assets, and if filing for commercial bankruptcy, you may lose your business. Since there are extremely important considerations in either type of bankruptcy, a bankruptcy lawyer is the most well-suited individual to evaluate your situation, recommending the type of bankruptcy you should file, then helping you through the legal process.
Your initial bankruptcy consultation will likely be much less painful than you might imagine, although it can be difficult to take the first step in making an appointment with a Kentucky bankruptcy attorney. From the moment you hire a Kentucky bankruptcy attorney, you will not be doing anything alone, whether meeting with creditors or appearing in court. Debtors who file bankruptcy with the help of a qualified bankruptcy attorney generally have their debts discharged, while those who choose to represent themselves tend to have a much more difficult time, with costly mistakes and a bleaker outcome.
How the Christopher Kurtz Law Office Can Help with Your Bankruptcy
If you are facing possible bankruptcy, you may be feeling alone, anxious, and extremely stressed. You have likely been trying to get your head above water for some time now, and may feel totally overwhelmed, unsure of which direction to take. The Kurtz Law Office is a boutique firm with extensive bankruptcy experience. We are cognizant of all changes in Kentucky bankruptcy laws as well as federal bankruptcy laws and will use this knowledge to your benefit. We will go out of our way to ensure you get answers to all your questions regarding your bankruptcy and financial future. Don’t wait any longer—contact the Kurtz Law Office today.