Find Bankruptcy Attorney By Laura Evans
Are you thinking about filing for bankruptcy? If so, it may be a good idea to consult a bankruptcy attorney to help you with the procedure.
Choosing a Bankruptcy Lawyer
What kind of questions should you ask a bankruptcy attorney in an interview? First, find out how long the attorney has been in business. If the bankruptcy lawyer just passed the bar or does not have much experience, you might want to find another lawyer, particularly if you think that your bankruptcy may be more complicated. Ask if your potential lawyer handles bankruptcy cases exclusively or, if not, how many cases he or she handles per month. Does the bankruptcy attorney have extra training or certifications? If you are not comfortable with the lawyer's answers, find another bankruptcy attorney.
In many cases, you might find that you will be working with not only the bankruptcy attorney, but law clerks or paralegals as well. Because of this, you will not only want to get a feel for the attorney that you will be hiring, but also for the law firm as a whole. Make sure you are comfortable with the atmosphere of the firm. Are people running around looking harried? Do the offices look well organized? Remember that you are not evaluating the décor of the office, you are looking at how people work and how they work together.
The Role of a Bankruptcy Lawyer
Your bankruptcy lawyer will guide you to the best type of bankruptcy filing for your situation. Chapter 7, the most common type of bankruptcy, is used by both individuals and businesses. Under Chapter 7, a business will not be able to reorganize. All of the assets in possession of the business will be sold to help satisfy creditors. Individuals filing Chapter 7 bankruptcy will be able to keep certain assets, but will have a bankruptcy listed on their credit reports for 10 years.
If there is a possibility that you can reorganize, your bankruptcy lawyer will help you file Chapter 11 if your business is having problems, or Chapter 13 if you are filing for yourself. Under Chapters 11, a bankruptcy court approves and supervises a bankruptcy plan where a business can continue to operate. Under Chapter 13, an individual agrees to pay his or her creditors within a certain period of time while his or her creditors generally forgive a portion of the debt they are owed.
Your bankruptcy attorney will be able to help you make the necessary decisions for your individual circumstances. If you think that you will need to file for some type of bankruptcy, the longer you procrastinate, the more difficult your situation may become. Start interviewing bankruptcy attorney once you think you may need one.
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