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.

How to Find a Bankruptcy Lawyer

Filing for bankruptcy can be a very scary time in a person’s life. Without a doubt the financial crisis that has resulted in the bankruptcy has been a stressful ordeal. On top of that, the thought of having a 10-year stain on your credit report from bankruptcy is definitely a big concern. The last thing that you need to worry about is getting an incompetent lawyer working on your case. For that reason, you should put a lot of time and research into choosing a good bankruptcy lawyer.

The qualities of a good bankruptcy lawyer are the same qualities that make a good lawyer in just about any field. For one thing, you want a lawyer who is specialized in bankruptcy, just as you want a lawyer specialized in personal injury if you were involved in that sort of case. While most lawyers should have an understanding of bankruptcy and be able to help you, a specialist will make the entire process much smoother.

In addition, you should hire a lawyer with whom you have a strong rapport. If, upon meeting a lawyer, you feel uncomfortable or that your questions went unanswered, you should keep on looking. The most important aspect skill that any lawyer brings to the table is the ability to really listen and easily explain the complexities of a case. It’s a good idea to interview the lawyer before retaining him or her – and you shouldn’t be afraid to say no if you’re not comfortable.

A few good questions to ask of your lawyer are: how many bankruptcy cases have they have tried? How long have they practiced specifically in the field of bankruptcy law? Ask them: how complicated is my case, and how do you plan to go about handling it? Beware of a lawyer who will just tell what you want to hear. If the lawyer doesn’t talk about any of the difficulties of the process, they may just be looking to you to sign a contract with them.

To find a good lawyer, one place to search is with the local bar association. You can find them in the phone book – bar associations have referral panels that can direct you to a good bankruptcy lawyer. Once you’ve contacted a lawyer, you should get as much information as possible about your case. Make sure you understand the extent of services covered in the lawyer’s fee. You should ask about lien avoidance issues, trustee disputes, non dischargeability and actions, and more. Be aware that a lawyer can’t foresee all the possibilities, and additional fees may be necessary as the case progresses.

Remember that a good bankruptcy lawyer is there to help you. Once you find a bankruptcy lawyer you trust, let them know everything about your financial situation. That way, they will be best prepared to represent your interests. Be sure to provide information to your lawyer quickly, so that all court deadlines can be met on time. If you do your part as well, then having a bankruptcy lawyer on your side will make the bankruptcy process much less painful.

Allowing Your Bankruptcy Lawyer to Help You

Even merely toying with filing for bankruptcy can leave you with a bad feeling in the pit of your stomach and you will have scary thoughts of losing your home and every dream you ever had of a well-off life will appear to shatter before your eyes. The fact is you are not alone. Millions of others are in the same position and seeing the same nightmares as you.

There is actual hope for your position, but this relies on utilizing an experienced bankruptcy lawyer to guide you through the bankruptcy process. A bankruptcy lawyer will determine that your bad financial position doesn’t necessarily mean you have to live out your nightmare scenario. In fact, the best bankruptcy lawyers can and have in the past helped people to get through the grief of bankruptcy every day and are experts in this field.

Bankruptcy situations that relate to individual cases are normally better handled by qualified bankruptcy lawyers. This is true even if you have begun the process yourself or you are painted into a corner by your creditors to file for bankruptcy. If you have begun the proceedings yourself then you are in all likelihood hoping that by filing for bankruptcy you will be able to eradicate all of your debts. If instead, your creditors forced you into starting the bankruptcy proceedings then their desire is for the process to recover the money and repay what is owed to them.

It does not matter if you were the one to initiate the bankruptcy process or were forced by your creditors; expert bankruptcy lawyers will help you with the process and make it as bearable as possible. Once you have hired a lawyer they will assess your financial position and will only suggest bankruptcy if that is the only hope of a good solution to the position you are in.

The bankruptcy lawyer you work with will also be in a position to give you advice on whether you should file for Chapter 13 bankruptcy or Chapter 7. Your lawyer should be an expert in both chapters and therefore be able to suggest the most advantageous plan of action. If your situation is so bad that you are at risk of losing your home or vehicle then your best option is to hire a bankruptcy lawyer who will hopefully be able to stop such extreme circumstances from happening.

If you really have no other alternative but to face bankruptcy then you must start searching for a bankruptcy lawyer now. Even if you are not sure what your choices are, a lawyer will be able to give you a decisive answer. If your financial situation appears severe to the extent of possible foreclosure then this really is the best action you can take. Talking to a bankruptcy lawyer as soon as possible could really assist to save your finances. The entire process of bankruptcy is very complex and far too complex for the average person to understand. Therefore, it makes complete sense to refer the professionals and allow them find the best solution for your particular situation.