It doesn’t take a large legal firm to manage a bankruptcy case. An individual bankruptcy attorney can help you regain financial stability by managing your case. As long as your attorney can develop your case with the right exemption and asset findings, as well as guide you through the legal process, you can do just fine with an individual bankruptcy attorney.
How Bankruptcy Helps You Regain Financial Stability
Bankruptcy helps you regain financial stability by eliminating as much of your debt as possible. Part of that is discharging your debt so that you don’t have to pay it. Another part of bankruptcy is reorganizing your debts so that you can find a way to pay them with the resources that you have. Which method is used depends on the type of bankruptcy that you file and your personal financial situation. No matter which form of bankruptcy you choose, you’ll come out of it without the crushing debt that you started with.
Filing Exemptions
The goal of any bankruptcy filing is to help you regain financial stability by discharging your debts. When you file for bankruptcy, one of the first things that your lawyer does is file assets and exemptions. These filings are critically important to your case since this is the one time you can file for them. Anything that is left out of the filings is treated as an asset that can be used to pay debts. Fortunately, an individual bankruptcy attorney is capable of handling all of the exemptions and filings that you need.
Planning Your Bankruptcy Process
Your attorney also works with the court to finalize the plans for a bankruptcy case. For example, your attorney plays an important part in creating the debt reorganization plan if you file for Chapter 13 bankruptcy. That way, you can keep all of the resources you need to maintain your steady income while paying off debts that can’t be discharged.
Negotiating with Creditors and the Court
The court is not obligated to accept whatever plan your attorney comes up with. Your attorney has to negotiate with the court to prove that the plan is both sound and fair to creditors. Creditors can also have a say in the case, and your lawyer has the chance to negotiate better conditions for you. In some cases, a lawyer may be able to negotiate debt relief from creditors before ever setting foot in court.
Call Kain + Henehan for Bankruptcy Help
You don’t need a mega law firm to file for bankruptcy; what you need is one or two good lawyers to represent you. Kain + Henehan is staffed by lawyers with decades of experience leading the bankruptcy process. We know what it is like to be a small law firm that can get everything done. Our firm has the resources, expertise, and experience to get you through a tough bankruptcy. Contact Kain + Henehan by calling (612) 438-8006 or filling out the online form to discuss your case during a free consultation.
