All too often many debtors ignore the warning signs of a impending financial disaster such as a foreclosure, repossession, lawsuits, IRS tax problems, and judgments frequently end up filing for bankruptcy. It is very important to know when to consult a bankruptcy lawyer because they can often save your hard earned assets. When unexpected tragic events happen to good, honest, hard working people then the world of debt can be very unforgiving one. Many New Jersey-ites will try credit counseling to deal with their massive debt. However, credit counseling rarely works and I have heard endless horror stories about it. Many of my clients advise me that their credit counselor’s sole purpose was to make as large a commission as possible and not to help them. The credit counselors are paid by a commission. Even if you have past due credit card bills, medical bills, judgments, pay day loans, and tax debts that have not turned into lawsuits then it is still a great idea to find if bankruptcy is right for you.
If you are not certain if you need solid bankruptcy advice, then a good question to ask yourself is what do you have to lose? When the answer is more money, your financial freedom, your home, your personal property, or simply your peace of mind, then receiving solid bankruptcy advice from a lawyer is a wise decision. Even if you are not prepared to hire the bankruptcy lawyer, at the very least at the bankruptcy consultation you will be appraised of your legal rights. In this world knowledge is power. Although bankruptcy is nott the only available option to address your credit card debts, how else can you determine what is best for you without a bankruptcy consultation? Before contacting a bankruptcy lawyer you should fully understand the extent of your financial predicament. There are many different types of lawyers, and each deals with specific areas of the law. Although some lawyers practice more than one area of the law, you probably would not want to hire a personal injury lawyer to file a bankruptcy case. That is not to say that a personal injury lawyer wouldn’t do a great job, but if they have only handled a few bankruptcy cases, then odds are he will make several mistakes in your case. Moreover, you should try to ascertain if your legal counsel is current with the vast amount of changes to the new bankruptcy code. In summary, you must perform your due diligence and make certain that your lawyer can handle the job.
You should inquire as to what fees the lawyer charges and to whether or not they offer reasonable payment plans. A lawyer will typically cost you a nominal sum compared to the long term benefits that bankruptcy has to offer. Finally, you should make sure you have reasonable access to the lawyer you choose. All too often lawyers are so busy that your phone calls or inquires are not returned for days, weeks, if at all. Make sure your lawyer is accessible because you are paying the bill.
The world of debt collection can be a very stressful place. Fully understanding your legal rights and available options is the first step to resolve your financial catastrophe. Whether you are seeking to file for bankruptcy or are looking for a credit card work settlement(s), knowing when to consult a bankruptcy lawyer can be a matter of financial life or debt.