You are considering bankruptcy lawyer services because you are not sure what else to do. Your financial situation is a precarious one, at best. That is understandable that you would want to get out from under the burdens you face, but you know there are repercussions, or you assume that there will be negative repercussions.
Maybe what you need to do first is try bankruptcy counseling. It is one of the newest bankruptcy lawyer services that combines the legal side of bankruptcy with financial advice and a clear view of future ramifications. Now you are wondering if such counseling would be worth it. Let's take a look.
Assessing Your Options
Your bankruptcy lawyer will look at the amount and types of debt you carry. Then he/she will show you what bankruptcy types and options are best suited to your situation. With each type of bankruptcy, the lawyer outlines what happens to your debts. Then, through the counseling process, you can see which type of bankruptcy will do the most damage to your financial reputation and overall financial health. Being able to see many of the future ramifications on paper helps you decide which type of bankruptcy you should do, IF you still decide to pursue it.
Looking for Alternate Routes out of Debt
Of course, bankruptcy counseling would not be complete if you did not get counseling about alternate routes out of debt. The lawyer will ask you about your assets, your investments, your properties, etc.. If you can, and are willing to do so, you can liquidate and sell off or auction off all of these extra life-comforts to pay debt. You can do this without ever filing for bankruptcy and feel confident in the knowledge that you made the choice rather than having the courts make that choice for you. (Yes, the courts can force you to liquidate assets to pay debts through bankruptcy proceedings. It is just less stressful if you come to this decision yourself, and less expensive, too.)
The Price of Bankruptcy Counseling
Bankruptcy counseling varies in expense. Some lawyers offer it for free as a means to help potential clients decide what they will do. Others charge a fee equivalent to their hourly rate of pay. Still others may charge a flat fee for the counseling that is often far less than filing for bankruptcy, with the hope that they have helped you make the best decision possible for you. Overall, there is plenty of sound advice and information you can get from bankruptcy counseling that might just save your financial health.