Avoiding Bankruptcy Court
Filing for bankruptcy is the best remedy for many debt problems. However, there are other courses of action that may be better in certain situations, allowing you to avoid bankruptcy completely. One benefit of hiring a bankruptcy attorney is that doing so might actually help keep you out of bankruptcy court.
An experienced attorney will have a better sense of the proper course of action in a given situation than the average person would. For example, many people file bankruptcy just to get their creditors off of the back. However, laws have been passed to stop excessive harassment from bill collectors – a good lawyer can help get you protection from aggressive creditors.
Another option is to negotiate with your creditors. Creditors do not want you filing for bankruptcy, since they would then lose any control over the situation. As a result, many creditors are willing to settle your debts for less than you owe to help you avoid bankruptcy.
Finally, it may be in your best interests to simply do nothing. If you do not have any assets to speak of, you are “judgment proof.” Basically, creditors will not be able to collect anything from you, since you do not have anything that they can legally take (there are laws which exempt certain possessions from being seized). This can save you the time and expense of filing for bankruptcy.
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Last Modified: 04-24-2012 03:21 PM PDT