Bankruptcy- Legal Counsel and Going Bankrupt

Thursday, November 24, 2016, 6:00 AM | 1 Comment

If you are experiencing debt problems, there are different options you can use to sort them out and these include bankruptcy.

You have the option of filing or applying for bankruptcy if you are unable to repay your debts. Bankruptcy can make it possible for you to regain financial control. You will no longer have to deal with the pressure of creditors’ constant calls and debt collection.

You may be allowed to retain some things and what you owe is often written off.

  • Finding the Right Lawyer

    Bankruptcy can be a complex and emotional procedure. This is why it is crucial to look for an experienced attorney who can handle your bankruptcy case. You require a reputable lawyer that you are comfortable with and who will provide you with quality legal services.

    Key aspects of finding the right lawyer include locating someone within your area, consulting attorneys, assessing their levels of professionalism and making a decision that is based on your needs. Before you start looking for recommendations, you should be aware of the kind of lawyer that you need.

  • Bankruptcy Types

    A lawyer will help you assess your bankruptcy situation and the type of filing that is appropriate. However, you also need to determine whether you want to file as an individual or company. Bankruptcy lawyers deal with personal and business bankruptcy.

    • If you have personal financial difficulties and are unable to pay debts, Chapter 7 may be the ideal bankruptcy option for you.

    • If you want to reorganize or restructure your debts into a manageable repayment plan and your income is stable, Chapter 13 may be the type to file for.

    • Individuals and businesses that are not eligible for Chapter 13 because of the high amount of debt, can file for Chapter 11 to reorganize their debt. Visit blgbankruptcy.com to learn more.

  • Referrals

    Seek referrals from people around you such as family and friends. Personal referrals from people who have worked with bankruptcy attorneys will give you valuable insight into how their case was handled and whether or not they would recommend that particular lawyer.

    You can also get referrals from lawyers for qualified bankruptcy attorneys. Lawyers usually have lists of other legal professionals that they can share with their clients in case they need them for specialized services.

  • Bankruptcy Experts

    During the process of compiling a list of potential lawyers, focus on bankruptcy experts. You need an attorney who is experienced in handling bankruptcy.

    Aside from considering how long the lawyer has been in practice, it is also important to know how much experience they have in bankruptcy law. Find out if the attorney’s main area of focus is bankruptcy cases to help you assess the lawyer’s experience.

Conclusion
You will be able to gather useful information from the internet. An online search can give you access to reviews from other clients, details about the attorney on their website, such as their academic background, articles and scope of work.

Make scheduled appointments with attorneys for initial consultations. Prepare for your meeting with relevant documents and questions to maximize on the time you have with the lawyer during the consultation.

Author BIO

Mary Smith has been a researcher and writer for over 10 years. She likes to read, cook and travel. Her other hobbies include horse riding and swimming. To find out more about affordable bankruptcy attorneys in the area, please go to blgbankruptcy.com.

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  1. One Response to “Bankruptcy- Legal Counsel and Going Bankrupt”

  2. By Heather on Apr 20, 2017, 3:02 pm | Reply

    Thanks for posting this helpful guide! It’s important for clients to know which kinds of bankruptcy are appropriate for their specific financial situation. I’m glad that you also made the point that utilizing multiple resources (referrals, internet searches, reviews, etc.) to find the best bankruptcy lawyer in one’s area.

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