Why do I need a Sacramento bankruptcy attorney if I can just stop paying my creditors

At Liviakis Law Firm, we’ve heard this question from countless clients: “Why do I need a Sacramento bankruptcy attorney if I can just stop paying my creditors?” While you may have the option to stop paying your creditors, the consequences can be far-reaching and severe. Let’s explore why employing the services of a Sacramento bankruptcy attorney can be crucial when dealing with bankruptcy.

The Consequences of Not Paying Your Creditors

It is not as simple as it sounds to just stop paying your creditors. Yes, you may get a temporary reprieve, but eventually, the unpaid debts start to pile up and the issues arise. Late payments affect your credit score negatively, making it harder to get approved for new credit or loans. Eventually, your creditors may turn your debts over to a collection agency or even decide to sue you. If a judgement is declared against you, your wages may be garnished, or your bank account may be levied.

How a Bankruptcy Attorney Can Help

The role of a bankruptcy attorney is to guide, protect, and advocate for you during the bankruptcy process. They can help you understand the complex bankruptcy laws and advise you on the best course of action based on your unique circumstances. Bankruptcy law is complex and intricate. It has the potential to act as a lifeline for those drowning in debt, but it is not without its pitfalls. Having a Sacramento bankruptcy attorney on your side can help ensure that you don’t make costly mistakes.

Understanding Different Bankruptcy Options with Your Attorney

There are different types of bankruptcy that you can file for, including Chapter 7, Chapter 11, and Chapter 13. Each type has its own set of rules, requirements, benefits, and drawbacks. A trusted bankruptcy attorney can explain these differences and help you choose which one is right for you. They can also help you prepare your bankruptcy paperwork, ensuring that it’s filled out accurately and completely to avoid any unnecessary delays or complications in your case.

Representation at Creditors Meetings and Bankruptcy Court

When you file for bankruptcy, you are required to attend a meeting with your creditors and a bankruptcy trustee. This can be an intimidating process, but having a seasoned attorney by your side can provide some much-needed reassurance. An attorney can also represent you in bankruptcy court, fielding any tough questions and ensuring that your rights and interests are protected throughout the bankruptcy process.

Peace of Mind

Perhaps one of the greatest benefits of hiring a bankruptcy attorney is peace of mind. Knowing that you have a committed advocate on your side, that you’re protected from creditor harassment, and that you have a clear plan to recover from your financial woes can relieve a significant amount of stress in a challenging time.

In Conclusion

While it might seem like a smart idea to save money by just stopping payments to creditors, in the long run, it might prove disastrous. Professional legal advice paves the way for an efficient, structured, and less stressful bankruptcy process.

If you’re considering bankruptcy or just have questions about the process, please don’t hesitate to contact Liviakis Law Firm. We’re here to assist you in navigating the complexity of bankruptcy law and working towards a brighter financial future.