Debt is an inevitable part of making big purchases. Most financial experts even advise people to seek loan assistance when making a significant purchase.
If managed, you are eventually cleared of this debt. Unfortunately, this is not the scenario for every debtor. Some people might face financial hurdles leading to their bankruptcy.
Most people interpret bankruptcy as the lack of financial assets. However, bankruptcy means that an individual's loan exceeds their assets.
According to the law, Chapter 7 of the Bankruptcy Code allows creditors to collect a debtor's non-exempt assets and use them to repay their outstanding loan.
If you or a family member considers a Chapter 7 Bankruptcy, you must find a bankruptcy attorney.
This blog post will guide you on where you can find a bankruptcy lawyer and what you should look for in one.
A debt relief option is applicable for individual who suffers from bankruptcy. This allows debtors to pay for their debt with a different option or a flexible payment plan. Finding an experienced bankruptcy attorney is crucial when you file for debt relief.
Here are some institutions where you can find an experienced bankruptcy specialist:
You must seek consultation with a few attorneys before making a decision. This way, you can gauge the expertise and experience of each attorney and ensure that you are going with the best option.
Now that you know where to find bankruptcy lawyers, it's time to evaluate which one is the right person for your case. You need to weigh several factors before proceeding with an attorney of your choice.
You will need to consider an attorney's experience, the field of expertise, and attorney fees. No two attorneys are the same. A bankruptcy attorney might have more experience with Chapter 13 bankruptcy while the other is more proficient with Chapter 7 bankruptcy.
Assessing what you are looking for in an attorney is the best way to narrow down your options. Ultimately, you want someone you can build a solid attorney-client relationship with.
A strong attorney-client relationship means that you can confidently confide your challenges with your attorney. This relationship will be your foundation of trust.
Experience and proficiency with bankruptcy laws is the most critical determining factor you must consider.
Bankruptcy law is a complicated legal area. The bankruptcy process is composed of complicated procedures that generalists may find confusing.
Hiring an inexperienced bankruptcy lawyer can be detrimental to your case. Missing deadlines and inappropriately filing forms can cause delay, or worse, denial of your bankruptcy case.
Seeking the legal assistance of a bankruptcy specialist ensures that you are taking the appropriate steps within the proper timeline.
Many lawyers may be available in your area, but only a small population specializes in bankruptcy law.
Take advantage of the free consultation most lawyers offer to their prospective clients. The free initial consultation allows you to assess and ask your potential lawyer critical questions.
Ask your prospective lawyer about their insights and how they will handle your case. Furthermore, you can also ask them for certifications, organization memberships, and peer recommendations.
Here are some questions you can ask in your next legal appointment:
Bankruptcy casesvary from one another. More complicated cases will yield higher compensation compared to a simple bankruptcy case.
A case's complexity also affects the attorney's service fee. In general, Chapter 13 cases are more challenging and cost more than Chapter 7 cases. It would be best to consider this when selecting an attorney.
Remember that you must get your money's worth. Although experience is a critical factor, selecting a high-end attorney over a simple bankruptcy case may not be financially reasonable.
Some law firms may offer a contingency payment, which means that you will only pay the attorney fees if they are successful with your case. However, most bankruptcy lawyers do not offer this option.
You must consult with multiple professionals before choosing an attorney. You can also ask them for payments options and a contingency payment basis.
Attorney-client compatibility is also an essential factor you need to consider when selecting an attorney. A solid attorney-client relationship is built with trust and effective communication.
You need to ensure that you can confidently disclose sensitive and critical information with your lawyer. Your lawyer must also ensure that any information revealed in the consultation remains confidential.
Filing for bankruptcy is a sensitive topic for most individuals. Often, it is not easy for them to share their financial situation with anyone, even with a lawyer.
A lawyer needs to project a sense of trust and security. The lawyer plays the role of the advisor in these cases. They are usually the ones who deliver challenging advice and 'hard truths' to help their client.
An effective lawyer is also a compelling communicator. They must possess the ability to deliver these harsh facts in a welcoming and non-discriminating manner.
Most legal experts encourage clients to avoid bankruptcy mills. These establishments are usually larger law firms that accept bankruptcy cases despite their inability to handle your case appropriately.
As a client, you want a lawyer or a law firm to take your case seriously. Handling bankruptcy cases requires extensive time and meticulous attention.
Financially challenged debtors may opt to file bankruptcy for debt relief. However, filing a bankruptcy case is not always a straightforward process.
You will need to seek help from a good bankruptcy lawyer to ensure that you correctly do the bankruptcy process. These legal specialists are experienced in helping clients file their bankruptcy claims seamlessly and appropriately.
Furthermore, if you are unsure whether to file a bankruptcy claim or not, an experienced attorney can help you make the best decision. They can advise you when is the right time and situation to file a bankruptcy case.
You need to seek a lawyer who understands your situation and will advocate for your rights. Most bankruptcy law firms provide free legal advice. Take advantage of this offer to understand your lawyer and the law firm better.
There are various ways you can find an experienced legal specialist. However, choosing the best lawyer boils down to your personal case and the lawyer's specialty.
When facing a financial crisis and considering whether to file for bankruptcy or not, you will need to see a legal expert. These experts can help point you in the right direction.
The Law Office of Emil Fleysher has already helped countless debtors, business owners, and other clients file for bankruptcy.
Our legal services cover Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Loan modification assistance, Foreclosure assistance, and many more!