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Do You Need a Lawyer to File for Chapter 7 Bankruptcy in Michigan?

If you are experiencing financial problems, you may be considering filing for bankruptcy in Michigan. In addition, you may be thinking about filing without an attorney to save money – after all, if you are considering bankruptcy, there is a good chance that you want to cut costs wherever possible.

It is always in your best interest to retain a lawyer if you are considering bankruptcy in Michigan. In fact, according to the United States Courts’ website, ’seeking the advice of a qualified attorney is strongly recommended” because bankruptcy has long-term financial and legal outcomes.

Below, we discuss some of the most important ways an attorney can help with the bankruptcy process. For more information, contact our office today to schedule a consultation with a bankruptcy lawyer in Ann Arbor.

A Bankruptcy Attorney Can Determine whether filing for Bankruptcy is right for you

Bankruptcy can have significant advantages, but it is not without its drawbacks. An experienced bankruptcy lawyer in Ann Arbor, MI, can evaluate your situation and determine whether bankruptcy can benefit you.

In addition, if you are a good candidate for bankruptcy, your attorney can determine which type of bankruptcy would be best.

Our Team Can Advise You Regarding Potential Alternatives

In some cases, bankruptcy may not be the best solution. An attorney can help you explore and consider alternatives to bankruptcy, such as debt consolidation, negotiation with creditors, or other debt-relief options.

If these alternatives are in your best interest, your lawyer can take steps to improve your financial situation. For example, your lawyer can negotiate with creditors on your behalf and may be able to obtain a better settlement than you could obtain on your own.

Your Lawyer Can Handle the Paperwork

Filing for bankruptcy requires a significant amount of paperwork. Not only do you need to file a bankruptcy petition, but your lawyer can also collect and prepare ancillary paperwork like your tax returns, documentation about your income, and proof of the value of your assets.

Your Attorney Can Make Sure You Take Advantage of All Available Deductions

When you file for bankruptcy, you can claim certain property as exempt. In a Chapter 7 bankruptcy, exempt property is from liquidation, which means you can keep it.

In a Chapter 13 bankruptcy, the exemptions will affect how much your monthly payments will be. In either case, an experienced attorney can ensure that you take full advantage of the exemptions available to you.

A Bankruptcy Lawyer Can Represent You in Court

If your bankruptcy case requires court appearances or hearings, your attorney can represent you in these proceedings. They can present your case, argue on your behalf, and guide the legal process.

Call Us Today to Speak with an Ann Arbor Bankruptcy Lawyer

If you are considering filing for bankruptcy or do not see a way out of debt, you should speak to an attorney as soon as you can.

At Marrs & Terry, we know how to help consumers eliminate debt and get a fresh financial start through Chapter 7 and Chapter 13 bankruptcy. To schedule a consultation, call our office or contact us, today.