Why You Should Hire a Bankruptcy Attorney

If you have been struggling financially, it is easy to become overwhelmed when working to get back on your feet. If your financial situation has become unmanageable, it is vital to consider enlisting the help of a bankruptcy attorney to help you consolidate your finances and create a strategy for future success. Furthermore, enlisting the assistance of professional counsel helps keep you and your finances safe from creditors looking to prey on your financial weakness. Here, the Baltimore bankruptcy attorneys at Grossbart, Portney & Rosenberg, P.A. discuss the various benefits of hiring a bankruptcy attorney early on, and how our qualified attorneys can assist you in all aspects of individual or small business bankruptcy filings.

Hiring a Bankruptcy Attorney Provides Debtor Protection 

When it comes to filing for bankruptcy, individual filings do not require an attorney, but small business, or Chapter 11 bankruptcy, does. Regardless of which form of bankruptcy you are filing, one of the biggest benefits that bankruptcy attorneys provide is protection to debtors. When you file for bankruptcy, an automatic stay is issued. An automatic stay essentially prevents creditors from coming to take your property or additional assets while you establish a plan for repayment. While this automatic stay is legally binding, there is always the potential for creditors to prey on individuals who do not have a comprehensive understanding of their rights as a debtor, and if handling bankruptcy on their own, can lead to them providing creditors with additional assets and finances and hindering them from moving forward. Bankruptcy attorneys, such as the team at Grossbart, Portney & Rosenberg, P.A. have decades of experience in handling bankruptcy proceedings, and are able to provide protection from creditors. 

Hiring a Bankruptcy Attorney Helps Keep Your Small Business Intact 

If you are a Maryland small business considering filing for bankruptcy, seeking the help of a bankruptcy attorney is important to help keep your business and personal finances separate, and ensure you have all of the proper documentation for your bankruptcy petition. When it comes to business bankruptcies, you will need documentation of all other businesses you currently have debts with, as well as business income statements. These documents can be difficult to compile and keep organized, as well as get signed by the appropriate parties. Bankruptcy attorneys, such as those at Grossbart, Portney & Rosenberg, P.A. streamline and expedite the process of business bankruptcy filings to keep your business running smoothly. Bankruptcy attorneys have an extensive resource list when it comes to local and federal bankruptcy changes, especially during this complicated time, and can be an invaluable asset to your small business as you navigate the complexities of bankruptcy. 

Hiring a Bankruptcy Attorney Promotes Collaborative Strategy 

Finally, hiring a bankruptcy attorney not only provides you with legal help and documentation, but gives you a collaborative team to help enact the best solution-oriented financial strategies. Bankruptcy attorneys have extensive knowledge of a variety of bankruptcy proceedings, and have been able to pivot quickly to give their clients the best possible outcome. Taking on bankruptcy on your own leaves you to figure out every aspect by yourself, leading to potential struggle if additional roadblocks arise. With the help of a bankruptcy attorney, our team is able to provide you with a strategic approach during every step of your bankruptcy process, so that you can achieve financial freedom as soon as possible. 

Discuss Your Bankruptcy Options With Grossbart, Portney & Rosenberg, P.A. 

If you are considering seeking the assistance of a bankruptcy attorney, it’s time to take the next step. Being proactive in seeking additional help, especially in cases where your finances are at risk, will help you get you and your business back on the road to success. Our team has decades of experience in bankruptcy cases throughout Maryland, and makes it a priority to bring an individualized approach to every bankruptcy case we take on. To learn more about how our team of experienced attorneys can assist you, contact our Baltimore office today