Legal Advice on Bankruptcy

Getting good legal advice is the most important factor in filing for bankruptcy successfully. In the past, some individuals attempted to go through the process by themselves. You may even have some friends or relatives who claim that they declared bankruptcy without a lawyer several years back. However, times have changed, and so has the bankruptcy statute.

In 2005, Congress passed a law which created some changes in the bankruptcy code. Many bankruptcy attorneys have criticized this law because they claim it is bad for consumers. Meanwhile, many members of Congress defended the law because they believed that some were taking advantage of the bankruptcy statutes and getting rid of their debts much too easily.

For better or for worse, the changes in the bankruptcy law are with us (at least for now). The reason that this is so important is that the bankruptcy code has become much more complex as a result of this new law. The law is so complex that even many lawyers struggled to figure out exactly what it meant. Judges will probably be making various rulings on the law and try to interpret its meaning for years to come.

This is why legal counsel is absolutely required if you decide to declare bankruptcy. However, not just any lawyer will do. As we have already stated, keeping up with the bankruptcy laws and their corresponding court rulings can be a nightmare for anyone not specializing in bankruptcy law.

This is why we highly recommend that you pick the lawyer who specializes in bankruptcy law. A bankruptcy law practice aims to keep up with all of the latest developments and offers you the best shot for a successful bankruptcy filing.

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