Personal Bankruptcy Advisor
Why selecting a personal bankruptcy advisor is important
In large part, the personal bankruptcy advisor on which you rely will determine the ultimate value of options you select. For most people, working with a professional is a combination of input and reliance. You should feel at ease discussing your current situation and your expectations. Your advisor's job is to incorporate your circumstance and desires into the best solution available. In this sense, you are team. When results count, you should choose the most talented team member that remains affordable, when a keen eye trained on the net value you will receive when plans are complete.
Cost verses benefit
The natural inclination for many people considering Chapter 7 is to save time and money, then push through to the end quickly. After all, if all debts are discharged, what else is there? In reality, a full and complete discharge is but half of the equation. Asset retention, especially retaining those assets that may be questioned when claimed as exempt presents a far greater challenge. Additionally, many types of debts are not dischargeable. In any given circumstance, the classification of debts, especially those subject to putative or specious claims, remains one the most significant decisions confronting debtors. For instance, money owed may be child support, alimony, or merely a contractual payment (all with different discharge potential), depending upon both the skill of the initial draftsperson and the lawyer presenting evidence to the court. A few pennies saved initially easily costs thousands of dollars to unsuspecting victims of shoddy legal work.