1. An attorney will explain the options you have
If you are facing mounting debts and would like to get rid of them completely, you need to know all your options. A good attorney will discuss all the possible options you have to eliminate your debt. There is no one-size-fits-
2. An attorney will represent you in court
Don’t be like many other debtors who ignore notices they receive from court. Hiding from a problem is not going to make the problem disappear. Somebody sued you and it is your constitutional right to defend yourself in court. If you simply ignore the court hearing, only one outcome is possible: your creditors will win by default. This default judgement will give them an opportunity to garnish your wages, go after your bank accounts, and place a lien on your property.
Talk to an attorney as soon as you receive any letters from the court. Your attorney will explain the nature of the lawsuit, tell you which defenses and counterclaims you have and which evidence you need to present. He or she will also represent you in court and, if necessary, negotiate with your creditors on your behalf.
3. An attorney will help negotiate a settlement agreement with your creditors
Whether you have been sued or not, sometimes you need to negotiate a settlement agreement with your creditors. Such agreement will allow you to pay off an amount significantly lower than your original debt and/or create a payment plan. This settlement agreement must be in writing. Your attorney will make sure the agreement protects your rights and interests. In addition, your attorney will advise you on the tax consequences this settlement agreement might create.
4. An attorney will help you navigate through the bankruptcy process
Bankruptcy is a complex procedure that involves filing various documents required by law with the bankruptcy court. If you omit or forget to file any of the required documents, your bankruptcy case will be dismissed. You will not get your debts discharged and will not have another shot at bankruptcy for many years. In addition, even if you file all the documents required, you may later find out that your particular kinds of debts cannot be discharged in bankruptcy. Talk to an attorney to discuss all the above matters in advance.
An attorney will prepare you for the trustee meeting and accompany you to the meeting itself. The meeting with the trustee is usually the most stressful event for most debtors. During this meeting the trustee will ask questions about your income, expenses and debts. The trustee may also ask you to file some additional papers.
You will definitely want to have a attorney there with you to help you navigate through the trustee’s questions and take notes of all of the requirements.
5. An attorney will tell you if bankruptcy is not for you
It is important to note that bankruptcy is not right for everybody. It is a process that allows a bankruptcy trustee to take a closer look at your finances and investigate your income, expenses and any transfers of property you made to other people within a certain period of time prior to filing your bankruptcy petition. If you do not consult with a bankruptcy attorney before filing for bankruptcy, you might find yourself in an extremely unpleasant situation that might result in serious legal consequences. You should always speak to an attorney before making any decisions.
The Law Office of Yelena Kalika was established to assist clients in reducing and eliminating their debts. The firm’s practice primarily focuses on Chapter 7 and Chapter 13 bankruptcy and consumer debt issues in the State of New York as well as business law.
About Ms. Kalika
Yelena Kalika represents and assists individuals in consumer Chapter 7 and Chapter 13 bankruptcy and consumer debt matters.
Areas of Practice
Ms. Kalika’s practice primarily focuses on Chapter 7 and Chapter 13 bankruptcy and consumer debt issues in the State of New York and grant writing.
She is admitted to practice in New York, New Jersey and in the Eastern, Southern and New Jersey Districts of the U.S. District Court.
If you'd like more information about this topic, or to schedule an interview with Yelena Kalika, please visit us at http://www.kalikalaw.com, or call us at (855) 357-3300
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