During your best years, you can pay your bills and enjoy a few luxuries in the process. However, there are times when you may lose your job, get behind on bills or have a house mortgage that balloons because of increased interest rates. Whatever your situation, it’s always best to call a bankruptcy law firm when you’re experiencing insurmountable financial problems, and here are some reasons why.
Experience and Knowledge
A bankruptcy law firm in Middleton, MA, will employ lawyers who are knowledgeable about bankruptcy laws and work with bankruptcy clients daily. These legal professionals can assess your situation and determine which type of bankruptcy you should pursue: Chapter 7 or Chapter 13.
Reduce Monthly Payments
Unless you’ve lost your job or have very limited funds, you will likely have to file for Chapter 13 bankruptcy. In this type of bankruptcy, your law firm will work with creditors to make your monthly bills more manageable. In return, you’ll need to ensure you make the payments each month until the debts are paid off.
Your bankruptcy law firm in Middleton, MA, area will help you save certain assets if you want to keep them. This can include an automobile, your house or even an apartment building. Again, you’ll be required to make a minimum monthly payment to a trustee. But this readjustment of your finances can help you better afford groceries, dental visits and other necessary services.
Chances are you’ve had to endure countless phone calls from creditors because you’re behind on your bills. Because of these calls and worries about your bills, you’ve probably been stressed out. A bankruptcy lawyer can help ease your mind as he or she works toward resolving your case.
A bankruptcy law firm in Middleton, MA, will usually carry malpractice insurance. This will protect you if your lawyer makes a mistake during your bankruptcy case.