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It is not essential that you engage an attorney for filing under chapter 7, but the fact is that you cannot do without expert help if you have to meet complicated legal situations. This becomes especially true when you have to deal with a horde of creditors from various fields. There are secured and unsecured loans involving mortgages, alimony, child support expenses, taxes, and student loans. Then there is the trustee appointed by the court to examine your property and documents. The job of the trustee is to ensure that you have mentioned all your assets and that you have not undervalued them in any way. Going by actual practice, the trustee tries to recover as much as property as possible from you, as the more he recovers, the more he is paid. Dealing in such situations can prove to be a nerve-wracking experience, and therefore it makes sense to hire an attorney to handle your case.
Again, since quite a number of people have duped the chapter 7 law to avoid paying their loans, a new, more stringent bankruptcy law has recently been passed that makes it all the more imperative for you to hire an attorney.
A qualified attorney can help your understand the complicated nature of options available to you. For example, he will tell you whether you should file for bankruptcy under chapter 7 or chapter 13. A bankruptcy lawyer's fee varies from $800 to $1,200 or even more, in view of the new stringent bankruptcy law. A good lawyer can save you many times your expenses that you might have to incur without his expert advice and help.
A bankruptcy attorney can assist you to assess your legal and financial situation. He can take stock of your assets and liabilities and deal with the trustee appointed by the court. If you are a businessman filing for chapter 7, a specialist attorney can make you understand the game of numbers that may help you get exemptions.