People get into debt for many different reasons, including job loss, frivolous spending habits, and even unforeseen illness. For many of those experiencing the scary feeling of being financially in over your head, bankruptcy provides some much-needed relief. However, that doesn’t mean it’s the right decision for everyone. If you aren’t sure if bankruptcy is the path you should be taking, here are some great reasons why talking to an experienced lawyer from a bankruptcy law firm Cedar Rapids can help you decide what’s best for you:
1. The lawyers at a bankruptcy law firm Cedar Rapids will be qualified to discuss all of your options. Some clients have the goal of getting a better credit score, while others want instant debt relief. Either way, you need an expert to help you make an informed decision about whether or not bankruptcy can really help you. If you and your attorney decide that bankruptcy isn’t right for you at this time, you’ll be able to find out about non-bankruptcy options that could help you improve your financial outlook.
2. If you do decide to file, you’ll likely want to know how you can protect important assets like your home or car. Though your ability to retain your assets will largely depend on the type of bankruptcy you are filing for and your willingness to repay outstanding debts, there are also other things that factor into getting the outcome you want. Those who are filing for bankruptcy but want to keep their stuff should consult with a professional who can help you make bankruptcy laws work in your favor so you can keep your most valuable possessions.
3. Your attorney will help you maximize the amount of debt discharged by letting you know what to do and what not to do before, during, and after filing for bankruptcy. For example, you may not know that you could be responsible for charges you make on a credit card within 90 days of filing. You also may want to hold off on signing any reaffirmation agreements sent from your creditor before a lawyer has had a chance to review them with you.
No matter how you got into debt, don’t delay in getting help with getting out of it. Talking with a bankruptcy law firm Cedar Rapids may be just the thing that helps you get the fresh start you need to move on to a better life.