Top Reasons You Need to See a Bankruptcy Lawyer

Often times, people believe they can file bankruptcy without the assistance and guidance of a bankruptcy lawyer. However, with all of the new laws in place, this couldn’t be further from the truth. Lawyers versed in the laws of bankruptcy, are more important now, than ever before.

Bankruptcy laws vary from state to state. A bankruptcy lawyer can help guide you through the laws and make the most of your bankruptcy claim. In many instances, a lawyer can help save a great deal of your assets from being liquidated.

There are two main types of bankruptcy, Chapter 7 and Chapter 13. A bankruptcy lawyer can sit down with you and help to determine with chapter best fits your financial situation and which one you will qualify for. With Chapter 7, you will need to liquidate all of your non-exempt assets in order to pay off your debts. With Chapter 13 bankruptcy, your lawyer will work with you and a court appointed trustee to develop a repayment plan. Both bankruptcies vary in the way they are handled as well as the impact they will have on your overall credit. The lawyer you choose will also be able to inform you of what debts you can and cannot claim under your bankruptcy case.

But one very important benefit that a bankruptcy lawyer brings to the table for you is that he or she will analyze your particular financial situation and make recommendations, letting you know what options you have and which is your best option, and WHY that is your best option. At this point in time, you are probably very emotional about your financial situation and cannot look at it objectively to determine which course of action is best for you. You really need a good bankruptcy lawyer to use their years of experience and legal knowledge to make recommendations. In fact, they may even suggest a bankruptcy alternative and recommend that you do not even file!

There is a great deal of paperwork involved in bankruptcy. A lawyer will know what paperwork you must fill out as well as when it should be submitted. If you hire a lawyer who handles bankruptcy cases, he or she will act a go between you and the courts.

You will want to make sure that you hire a local lawyer to help you with your bankruptcy case. Since the laws vary from state to state, you will want a lawyer who is well versed in the bankruptcy laws of your local state.

As well, you will want to choose a reputable lawyer to work with. If you feel comfortable doing so, you can ask your family and friends for recommendations. Someone who has dealt directly with bankruptcy will be able to give you a personal view on a lawyer that works best for you. However, if you do not feel comfortable asking a family member or friend for a recommendation, you can check with the Better Business Bureau to see if any complaints have been filed against a particular lawyer you are considering.

No matter what your reason for filing bankruptcy, you will want to make sure that you hire a reputable lawyer that can guide you through the entire process. With all of the new bankruptcy laws in place, it is nearly impossible to file bankruptcy without the assistance and guidance of a bankruptcy lawyer. The right lawyer will help put you on the right path to clearing up your financial troubles.

One more point worth noting. You got to the financial place you are now due to errors or due to any variety of different circumstances. This is not the time to be making more mistakes by trying to do this yourself. Most people who have filed in the past can attest to the fact that they saved more in time, money, and personal assets by using a good bankruptcy lawyer than what it cost them in legal fees.

What To Do With Bankruptcy Lawyers

The reasons why, if you are facing bankruptcy, you should only deal with specialist bankruptcy lawyers.

People who file for bankruptcy generally go through the unpleasant process only once in their life time. The experience is usually more than enough for the average person. The stages that lead up to bankruptcy can be totally traumatic, with pressure from all and sundry, and the feeling of failure that accompanies it.

Then one day the sickening realization begins to sink in that you are not going to make it and the protection of bankruptcy appears like a desert island in a choppy sea, and you can’t wait to swim there. But you need someone to throw you a life belt, and if you are wise or lucky, the person throwing a life belt will be a specialist bankruptcy lawyer.

Help! I’m drowning in spiraling debts. I need a lawyer, but not just any lawyer. I need a bankruptcy lawyer!

In an average lifetime, people usually have to deal with lawyers maybe four or five times. That should be enough for most of life’s challenges. Many people take comfort in the fact that they have a family lawyer, who they can call on to attend to simple legal issues. However this type of lawyer could deal the kiss of death for your bankruptcy. They will be emotionally and professionally ill equipped to handle your case, and the best piece of advice he or she can give you is “Go somewhere else.”

The reason for this short but meaningful suggestion is that they are well aware that in recent years practicing law has moved into specialist areas. There are lawyers who deal with criminals, there are lawyers who deal with corporate law, copyright laws and finance. Then there are bankruptcy lawyers.

As you find yourself swimming towards the island of bankruptcy protection, the last thing you need is a criminal lawyer inflating your life raft, or for that matter a lawyer dealing in corporate law or any other form of lawyer, apart from a bankruptcy lawyer. Only he or she has the specific information, experience and understanding to handle your bankruptcy filing and produce the best results on your behalf.

Once you have absorbed this fact, then you are now trapped on the desert island of bankruptcy with your bankruptcy lawyer. You have to provide them with all the information that they need. There are many people who, despite the fact that they are paying their newly found bankruptcy lawyer a very tidy sum to handle their case, they refuse to submit the full details of their financial situation. They are either embarrassed to find themselves in such a situation, while others foolishly try and keep some funds aside for survival purposes after the bankruptcy. Bankruptcy lawyers are no fools and they have a responsibility to the legal system, even more than they do to any specific client. If you find yourself in a situation where you have become insolvent, then it is in your best interest to come clean with your bankruptcy lawyer to the full extent of your financial affairs.
If all goes well, and your new found friend and specialist bankruptcy lawyer has handled your case efficiently and well, backed with all the accurate information you have provided, your bankruptcy will be behind you. You might even find yourself doing the back stroke to dry land of undischarged bankruptcy, safe and secure in the arms of your bankruptcy lawyer who will guide you there.

How to Hire a Good Bankruptcy Lawyer

What is worse than having to file for bankruptcy is to hire a bankruptcy lawyer only to find out that he or she was not fit for the job. The demand for bankruptcy lawyers is constantly on the rise and these lawyers are making great business cashing from debtors who are facing financial problems by giving them inferior quality legal services in return. Therefore you have to be really careful when hiring a bankruptcy lawyer especially in the state of Orange County so that you don’t end up having ripped off by just another person.

Therefore it is strongly advised that you conduct some basic research before hiring a bankruptcy lawyer. The first tip for hiring the right bankruptcy lawyer is to not procrastinate. You should put in the right amount of investigation and back ground checking regarding the lawyers you are considering. It’s always best to start the investigation process as soon as you feel you are going to file for bankruptcy rather than waiting till the last minute. If you leave your case till the last minute your lawyer won’t have enough time to prepare a solid case for you.

The second tip for hiring a good bankruptcy lawyer is to ask around other business people who may know lawyers especially those have dealt with bankruptcy before will be able to give you some solid guidance and proof regarding which lawyer is good in this field. Having personal lawyers is always the best solution. But in case you do not its best to go for a lawyer who is experienced in the field you need which is bankruptcy. This is because this is a specialty on its Own and has to be dealt with carefully with experts only.

The third tip for hiring a good bankruptcy lawyer is to take the time out to spend at a bankruptcy court. Watching lawyers dealing with similar cases will help you recognize which one is good and which one would be better able to represent your case. This will also give you some knowledge about the bankruptcy laws which can then help you see which direction your lawyer is going in. Some knowledge of your own is always good to monitor other people you hire and make your case stronger.

The fourth tip for hiring a good bankruptcy lawyer is to check out all those attorneys who sit at the local bankruptcy court panels. The lawyers that appear on this panel will definitely be the most respected and well reputed ones with the most extensive knowledge and experience in bankruptcy cases. If you are successful in getting a lawyer from this panel to represent you, you will be very lucky. But before hiring a lawyer do make at least one visit to his office. The look of the office will definitely tell you a lot of things about the personality and way of working of that particular person.

The fifth tip to follow for hiring a good bankruptcy lawyer is to attend a free consultations session and ask a lot of questions. This stage will help you clarify a lot of doubts and questions that might have been lingering in your mind. It will also be a good starting point for building rapport with your lawyer and see if you like his personality or not. Being comfortable with the lawyer you hire is a very crucial point that should never be overlooked. Once you follow all these tips properly you will surely be able to hire the best bankruptcy lawyer in your area and have your bankruptcy filed smoothly.