Before you file chapter 7 or 13 bankruptcy in Ohio, Read these 3 important tips.
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Anyone considering bankruptcy may also think they can go through the process on their own. If a partnership or corporation is filing for bankruptcy, they must retain an attorney. But individuals may represent themselves in bankruptcy court, but they should be warned that it is a difficult process to go through without legal representation.
Bankruptcy Has Technical Rules
A bankruptcy case in Licking County, Ohio must be filed and handled properly, as any mistake in the filing of a bankruptcy petition can affect the debtor’s rights. A case can be dismissed by the bankruptcy court if a required document is not filed, and the debtor could lose the right to file another petition. Bankruptcy has long-term legal and financial consequences, and a competent bankruptcy attorney is highly recommended.
Listing all Assets and Debts
Debtors must list all their debts and assets on their bankruptcy schedule. If a debt is not listed it may not be discharged, and a judge may also decide to deny the discharge of all debts if he feels the debtor was dishonest when filing his case. Some bankruptcy cases are audited to determine their accuracy, and having an attorney on hand helps to solidify that the debtor is filing his case properly and following the necessary rules of the bankruptcy court.
A Fresh Start
The bankruptcy process allows for individuals to have a fresh start when it comes to their finances. There are a couple of different types of bankruptcy available, and an experienced bankruptcy attorney can assist the debtor in understanding the differences and what the necessary qualifications are for filing for each chapter. Some debtors will file bankruptcy to wipe their debt clean, while others will file for bankruptcy and can come up with a payment plan they can afford. An experienced bankruptcy attorney is not there to judge, but instead guide his clients into financial freedom. This is a stressful time, and the right bankruptcy attorney can make sure the bankruptcy process is less complicated than if the debtor were to go through the process alone.
Wood & Brewer, LLC understands how important getting your finances back on track is to you and is here to help. Please contact us today and take advantage of our Free Consultation to see if Bankruptcy is really the right strategy for you.