Bankruptcy Lawyer - Tips to Finding a Good One

It's never a pleasant scenario that brings you to need the services of a bankruptcy lawyer. It could be that your home is being foreclosed on, or that you lost your job six months ago and finding a new one has been more difficult than you anticipated. Perhaps credit card debt has you in over your head. Whatever the case, finding a good attorney is going to be your primary immediate goal. Because of the economy, more people than ever have been trying to get out from under their debt burden by using the court system. This has brought the wolves out to play. To avoid these wolves and find a firm that has you best interests at heart, here are some tips you should follow.

Don't Waste Time
Finding yourself in financial trouble can be overwhelming. The first tendency many have is to bury their head in the sand and try to wish it away. Ignore those collection calls and toss out those threatening letters that come in the mail. This, of course, makes things worse. Don't make the same mistake when it comes to finding a bankruptcy lawyer. If you wait until the last minute, you'll be more likely to fall in the trap of accepting the first one that advertises in a way that gets your attention.

Go To Court
One of the best ways to observe a bankruptcy lawyer in action is to spend a day in court, watching them argue someone else's case. As a layman, you won't be able to decipher everything there is to know and you may not have any experience telling a good attorney from a bad one. All the same, you can get a feel for their personalities and see how they interact with the judge. You may also be able to spend a moment or two talking to their clients and you can ask them if they recommend their attorney for representation.

Make Personal Visits
Don't be afraid to take advantage of more than one free consultation. When you visit a law firm, you're looking for a few things. Of course, you'll want to see what the bankruptcy lawyer has to say about your case and you'll want to see how you get along with them and the staff. But you'll also want to pay attention to your surroundings. Does this look like an organized, efficiently run office? Impressions such as these can tell you a lot about the way a firm does business.

Bankruptcy Lawyer - To File on Your Own Or Not To

Because those facing bankruptcy are already in financial dishevelment, and there is no law dictating that you must use a bankruptcy lawyer when filing, it may seem sensible to file the procedures yourself. You, however, are advised to consider that, most likely, you would most likely not decided to fix your own roof, diagnose your own illness, or deliver your own child even though there are no laws stating that you cannot. Likewise, it is advised that you seek the advice and guidance of a professional. Handling the case yourself and seeking the knowledge of experience can mean the difference in escaping the trial with enough financial reserves to start anew and having an experience that is stressful and unsuccessful.

Another option for filing bankruptcy is to seek the services of a petition preparer. These are professionals who take your information and transfer it to the correct legal documents. The misconception amid bankruptcy filers is that these preparers have legal training. This is not the case. In fact, these professionals are little more than typists who legally only have to right to enter your information as you present it to them. They cannot give any legal advice or represent you in court, and the only option should legal questions arrive is to be referred to a practicing bankruptcy lawyer. Most filers will now find themselves paying for two separate services. Petition filers, without the advisement of an experienced lawyer, often give general information that results in the client making erroneous decisions, and it should be noted that any legal advice given by petition preparing services is considered practicing law without a license, and such a practice is illegal.

A skilled and trained lawyer is the best option for filing. A bankruptcy lawyer will guide you through the entire process beginning with reviewing your case and suggesting the pros and cons of your options. This area of law is a dynamic field in which the laws are constantly being reviewed and changed, and the upfront cost of an attorney will ultimately save you money as the assets and money lost by inadequate or even illegal advice of petition filers could be exponential.

Filing yourself or using petition services may be a better option if you have no assets or other interests that you stand to lose, but even in this case, it will behoove a filer to partake of the sound experience of a qualified professional.

Chapter 7 Bankruptcy Attorney - Explore Your Options

Filing bankruptcy is a last ditch option for many people who find themselves unable to pay off their debts and many use a chapter 7 bankruptcy attorney. Often the cause is due to a loss of job or unexpected medical expenses that can be financially devastating to a family quite quickly. If you have run out of options and are considering whether or not bankruptcy is the right option for you, here are some things to consider.

First bankruptcy is filed in federal court, not at the state level so it is not something that is easily undertaken without the assistance of a chapter 7 bankruptcy attorney.

The paperwork required to file bankruptcy is quite involved. And there are a lot of rules and regulations in place that can make filing a difficult process to go through if you don't fully understand what you need to file. For example the court will want to see a list of your assets as well as a list of your debts and living expenses to decide if you are a candidate for chapter 7 bankruptcies. If you forget to include a debt it won't be included on your judgment and even after your bankruptcy the undeclared debt will remain active. This is another reason why it is imperative to have the assistance of an attorney if you decide to file for bankruptcy.

Another factor to consider is the fact that not all types of bankruptcy are equal. If you file chapter 13 you will essentially be coming up with a court approved repayment plan to keep your debts and your assets while a chapter 7 will allow you to walk away from most of your debts depending on what they are. Some debts cannot be discharged including student loans, child support, alimony and debts to the IRS.

What debts that you can discharge and which debts you cannot discharge is the third factor that you need to consider. If your major debt won't be discharged in a bankruptcy, your attorney will advise you of this in the initial consultation and help guide you to other resources that may be more valuable to your circumstance.

If you are ready to act you need to make sure you have an attorney and you need to make sure that they specialize in bankruptcy law. Take advantage of your initial consultation to let your attorney know your debt amount and your income, what your assets are and why you feel you need to file bankruptcy. Your attorney can help you fully understand your rights under the law when you file bankruptcy, explain how long the process can take and help you decide if chapter 7 is the right form of bankruptcy for you to file.

Debt Negotiation Lawsuit

There are several options debtors can consider when facing bankruptcy. While filing for a chapter 13 bankruptcy can protect some of the debtor's properties from complete liquidation, even this lighter bankruptcy may not be necessary. In some cases, working through debt negotiation is the best option for a person facing substantial debt. However, creditors may not be as optimistic as a debtor can be when given such an opportunity to retain their full properties while working through their debt.

For any number of reasons, a creditor may hassle or push a debtor towards a stricter resolution to their debts. Lawsuits can appear, legally, any time an outstanding debt is not paid. Most creditors will not necessarily use the legal system to get their due money, but the option is available and can be employed if a creditor chooses. As a result, debt negotiation, although it seems like a great option for debtors, can lead to more problems if not handled carefully.

Creditors mostly file lawsuits against debtors pressing for payment not because they want to drive people into bankruptcy, but because they need their funds as quickly as possibly, and, as a business, require some heavier payments than what are being provided. Debt negotiation consultants will often promise their services as capable of keeping creditors from hassling debtors, but, without legal defense, this simply is not feasible.

If given a slightly smaller lump sum or given the promise of the court that payment will be coming, creditors may be satisfied. This does not necessarily leave much room for negotiation. However, working through an attorney instead of just a consultation company can give negotiation more of an opportunity to succeed, as creditors may be less willing to enter into protracted legal battle.

To learn more about how attorney-assisted negotiation works, contact a bankruptcy attorney today.

Understanding Bankruptcy Fraud

Bankruptcy provides one of the most efficient ways to repay debts and start over again. For that reason, it is intended to be used only by people who are in serious need. Unfortunately some people attempt to exploit the effectiveness of the bankruptcy process by filing for bankruptcy multiple times. This is known as multiple filing fraud, and it can result in serious legal penalties.

Like any type of fraud, people committing bankruptcy fraud can be very creative in finding new ways to exploit existing bankruptcy laws to their advantage. The government takes bankruptcy fraud very seriously, however, so great effort is put into ensuring only people who have a legitimate need for bankruptcy protections are able to use it.

Nonetheless, there are a few primary ways in which people attempt to commit bankruptcy fraud. An obvious way to commit fraud would be to hide certain financial assets from the bankruptcy court, preventing them from being used to repay debts. This can be extraordinarily difficult, and for that reason it is often the downfall of wealthier individuals.

One of the most common ways people attempt to commit bankruptcy fraud is by filing in two separate states. Bankruptcy cases are handled on a state-by-state basis, but there is still communication between states regarding bankruptcy issues. Computers have made this strategy even less effective.

Some people attempt to file using fake names and/or fake Social Security numbers. Some steal the identities of other people, using the victims' names and Social Security Numbers to file for bankruptcy for their own benefit. Identity theft is a serious problem affecting millions of people around the country, and the act of stealing an identity alone can result in time in federal prison.

Bankruptcy fraud is taken very seriously by the Federal government. Being convicted of bankruptcy fraud can result in up to five years in Federal prison and a fine of $250,000. Upon release from federal prison, people guilty of bankruptcy fraud will be branded as convicted felons for the rest of their lives and may find it impossible to hold down a normal job.