April 22, 2024


General Attorneys

How To Sue Someone Who Owes You Money

3 min read
How To Sue Someone Who Owes You Money Many people shy away from hiring an...

How To Sue Someone Who Owes You Money

Many people shy away from hiring an attorney for assistance in legal matters for How To Sue Someone Who Owes You Money. This concern has many reasons, but is typically compounded when the legal matter is bankruptcy. All concerns aside, we will explore reasons why you need an attorney to help you with your bankruptcy filing.

5 Reasons You Need A Bankruptcy Attorney for Your Filing

1. What type of bankruptcy declaration is available for your filing
Did you know that consumers have a few completely different options available to them for their bankruptcy filing? These options are typically is Chapter 7 and Chapter 13. These options have a different set of criteria that must be followed. One of these criteria is the means test, which checks to see if Chapter 13 is available to the consumer. Knowing what options you have available can help you make a better, more informed decision with your finances.

2. Protect your assets in a bankruptcy filing
Creditors are in the business to make sure they are paid what they are due. These organizations or individuals typically have very good legal representation that are dedicated How To Sue Someone Who Owes You Money to making sure the companies they represent get every last penny they can inside the law. Do-it-yourself-ers run the risk of losing assets that might have been protected. Bankruptcy attorneys are trained in the laws that protect consumers and can help you keep the your assets that are protected under law when the law is properly applied to your case.

3. Pay less in a settlement
When a debtor is represented by a licensed attorney, Chapter 13 filings can have the creditor paying less in the settlement than if the debtor attempted to How To Sue Someone Who Owes You Money. This is the case simply because a licensed attorney will know the protection his or her client is afforded under law and will push for those protections that the debtor might have otherwise not known were available in their case without legal representation.

4. Bankruptcy settlement plan more likely to be accepted
In a Chapter 13 bankruptcy filing, a repayment plan is submitted to a trustee, whose purpose is to maximize the dollar amount the creditors will receive from the debtor, and to a judge. This repayment plan must be approved by all interested parties before the filing is accepted. Doing this type of filing by yourself, you run the risk of not taking care of all loose ends and having your filing not approved. An attorney will know the laws involved and the exemptions available to make sure your plan is accepted with minimal allowable dollars owed by the debtor.

5. Stop collection calls
One of the most frustrating things when your finances turn sour is collection calls from your creditors. As mentioned earlier, creditors are in the business of getting money that is owed to How To Win In Court. Therefore, most will pursue collection with all the vigor and with all the options available to them to get their money. This type of effort typically involves a collections agency hired to collect delinquent debts.

Collection agencies will call and call and call until they get what is due to them. That said, the moment you file bankruptcy, all collection calls must stop. A licensed bankruptcy attorney can typically get this done for you quicker, and in the right way, than someone filing by themselves so you can get this burden lifted sooner.

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