How Top Bankruptcy Lawyers in Huntsville Plan out Bankruptcy Filing Processes

Efficient bankruptcy planning takes months. The first thing that bankruptcy attorneys do is recommend their clients to consider alternatives. Filing for bankruptcy can be immensely helpful for some, but it isn’t the only route to financial peace and satisfaction. However, if the clients are still willing to file for bankruptcy, the bankruptcy attorneys will suggest appropriate bankruptcy types to file. Chapter seven bankruptcy and Chapter thirteen bankruptcy are completely different from each other. For instance, under Chapter seven bankruptcy, debtors are allowed extra time to repay their debts, but they’re unable to protect many of their assets. If you have a house, it goes to the creditors. Chapter thirteen bankruptcy is completely different. Bankruptcy attorneys carefully consider their client’s needs before recommending the ideal course of action.

Making Vital Decisions

The best bankruptcy lawyers in Huntsville do one thing whenever their clients demand to file for bankruptcy – profit and loss analysis. They calculate which of the two types of bankruptcies is more profitable for the debtor – Chapter seven bankruptcy or Chapter thirteen. Attorneys can tell their clients about the ideal course of action within a couple of hours of going through their financial statements and reports. More importantly, these attorneys ensure that the debtor is disclosing and valuing his/her assets truthfully and making the most of all exemptions. 

The Challenge of Not Having an Attorney

People who file ‘pro se’ (without an attorney) often miss out on key details. For instance, some types of debt are not discharged even after filing for bankruptcy. No one expects a non-specialist to know this, but debtors who are represented by attorneys never suffer from such issues. Every state has different exemption systems regarding the debtors’ properties once they file for bankruptcy. Top bankruptcy attorneys who understand these exemption-related rules better than anyone help their clients protect as much of their assets as possible.