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May 23, 2024
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Law

When Should You Hire a Bankruptcy Attorney in Virginia

Though Virginia is one of the richest states in the country, the number of cases of bankruptcy has been increasing rapidly. Bankruptcy is the inability of a person or an organization to repay their overdue debt. To pay off this overdue debt, the debtors will measure your assets and use that for paying the same. According to a study, the most common causes of bankruptcy could be due to high medical expenses, loss of the job, using credit cards excessively, unexpected hike in the overall expenses, separation from your partner, etc. During such cases, people tend to go bankrupt without even realizing it.

Bankruptcy is of two types – chapter 3 and chapter 7. Both cases are different and complex. One cannot undergo all the legal proceedings by themselves. They will require a bankruptcy lawyer to help them manage the process. Therefore, to hire an experienced and skilled bankruptcy lawyer in Virginia, you must contact The Hampton Roads Law Firm of John W. Lee. They have over 70 years of experience as bankruptcy lawyers in Virginia Beach. Their main goal is to provide the greatest level of services at an affordable price. Contact them now and book your schedule for further inquiry.

Many would try not to hire a professional bankruptcy attorney thinking it would save them a lot of money. However, it is not always true. In this article, you will learn a few reasons for hiring a bankruptcy attorney.

Reasons to hire a professional bankruptcy attorney:

  • For successful outcome: Hiring a bankruptcy lawyer will increase your chances of successfully eliminating the debts. A report says that those who represent themselves for bankruptcy cases have a low success rate when compared to those who represent with the help of an experienced bankruptcy lawyer.
  • To know which bankruptcy option is good for you: As referred above, bankruptcies are of two types – chapter 3 and chapter 7. To understand, which one will be the best solution for you, you will require the help of a bankruptcy lawyer.
  • To know if bankruptcy is the only solution: Before you declare bankruptcy, it is crucial to evaluate your assets and liabilities and to understand all the problems. While you might think bankruptcy is the only solution, the bankruptcy attorney might have several other solutions too. Therefore, they suggest different solutions to overcome the debt without declaring yourself bankrupt.
  • To save your time: A bankruptcy lawyer who has experience of several years will know the solution to all your problems. They will save much of your time by using smooth shortcuts.

Being bankrupt will not only take away all your assets but also peace of mind. However, when you hire a bankruptcy lawyer, they protect you from uncertainties and offer peace of mind.

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