How to Tell When You Need a Bankruptcy Lawyer

What is Bankruptcy?
Filing for bankruptcy in Columbus and throughout Ohio can be a scary thing, but it really shouldn’t be. Bankruptcy is a legal proceeding designed to protect debtors from permanent financial ruin. Sometimes, it’s the best choice when faced with severe money problems. It provides legal protection from creditors and can offer some respite from debt, while in some cases simultaneously establishing a structured opportunity for repayment.

Why Hire a Columbus Bankruptcy Lawyer?
Bankruptcy is an extremely complicated affair, and there are several things you should know before starting. There are deadlines to meet, documents to file and procedures to follow. While it is possible to file bankruptcy on your own, it is highly recommended that you find a good bankruptcy attorney. Ken Sheppard and his team know the ins and outs of bankruptcy law, and can be instrumental in getting the best results possible.

According to Debt.org, bankruptcy lawyers had their Chapter 7 clients’ debt eliminated in 96.2 percent of cases in 2017. This is a sharp increase over people who represented themselves, who were only 66.7 percent successful. Finding a good lawyer can often make all the difference.

A bankruptcy attorney is hired to make sure that your declaring bankruptcy is as effective as possible. They can help clear loans, institute a timeframe to restructure and establish payment plans. It’s important to go into an attorney’s office knowing what to expect, and having as much information as possible on your debts.

Signs It’s Time to Call a Bankruptcy Lawyer
Bankruptcy may be complicated, but knowing when to hire one shouldn’t be. There are a few red flags that, if raised, are serious indicators that you should find a bankruptcy lawyer immediately.

  • Being unable to pay your bills
  • Only making minimum monthly payments on credit cards and other debts
  • Bouncing checks
  • Receiving a Complaint or civil lawsuit in the mail
  • Getting calls from creditors and debt collectors
  • Going through an injury, divorce, or job loss
  • Being unsure of how to deal with your debt

Bankruptcy lawyers are well versed in all those issues, and are well trained to deal with them. Speaking with one isn’t committing to bankruptcy, it’s taking the first strides to getting out from under a mountain of debt.

What’s Next?

Deciding whether or not to file for bankruptcy is a big decision, but can be made slightly easier by talking to a lawyer. A bankruptcy lawyer can help you decide what Chapter filing is best for your situation, and guide you through the intricacies of filing for bankruptcy in Ohio. There are significant differences between filing Chapter 7 and Chapter 13, and an experienced bankruptcy lawyer can help explain the pros and cons of each.

When determining if bankruptcy is the right decision for you, it’s important to remember that you’re not alone. Countless Americans have filed for bankruptcy, and it has helped them regain their lives and their livelihood. And while it may not fix everything, having a bankruptcy lawyer by your side can make a monumental difference. Contact us today to schedule your free 30-minute consultation and get your life back on track.