Fraud on Finance

Getting a Good Bankruptcy Lawyer

There is nothing worse than having to file for bankruptcy. Bankruptcy is a very serious matter which can destroy the lives of many people and render them completely helpless. Before moving forward with this article it is important to describe bankruptcy and what it entails. Bankruptcy is also referred to as insolvency and is a legal state of being unable to repay debts owed to creditors.

Bankruptcy is applicable to both individuals and organizations. When bankruptcy happens to an organization, many creditors will normally file a bankruptcy petition in an effort to recover a portion of the money owed to them by the company or organization. This results in the organization seeking the services of a bankruptcy lawyer. A bankruptcy lawyer is someone who is conversant with bankruptcy law and will be able to defend you against the petition filed by the creditors. Bankruptcy lawyers are quite expensive and you will have to prove to them that you can pay them before securing their services.

Tips on how to hire a good bankruptcy lawyer?
The increase in bankruptcy petitions has resulted in an increase in demand for bankruptcy lawyers. This has led to an increase in the number of lawyers who are looking to make a quick buck at the expense of debtors who do not know any better, while offering very poor legal services in return. It is important to ensure that the bankruptcy lawyer you have chosen is up to the task and will give you the required help you need throughout the entire process. Some of the tips you can use when trying to identify a good bankruptcy lawyer are given below.

Investigation: Many people often panic when they declare bankruptcy and will select the first bankruptcy lawyer that they come across. This is not a wise move because you need to conduct a thorough investigation. This investigation should involve a thorough background check of the lawyer and should be done before the bankruptcy claim is made. This will also give your lawyer enough time to prepare for the case.

Word of mouth: A good bankruptcy lawyer will be well-known, especially in the business world, so it is very important to ask around and gather information about companies that have filed for bankruptcy and who represented them. It is also important to know the outcome of the cases. You are bound to get information that is helpful. Experience should be your main focus in the search for a good lawyer who can adequately represent you.

The courts: A bankruptcy court is a good source about bankruptcy lawyers. You should always take some time off and visit a bankruptcy court so as to see and experience a bankruptcy case. This will give you an idea of how a good lawyer should conduct the trial when defending someone.

The panel of lawyers: The best place to find out about the best and most respected lawyers is by visiting the bankruptcy lawyer’s panel. The reputations of these lawyers precede them and you are likely to find a very good lawyer who deals with bankruptcy issues and is experienced in the field. Visiting the office of the lawyer may also give an indication about the lawyer’s reputability.

Attending free consultation sessions: Free consultation sessions are the platforms that make it possible for you to ask as many questions as possible about bankruptcy and where to find good lawyers. It is also the beginning of a good working relationship between you and the lawyers because you might get good contacts which will help you in the future. A bankruptcy lawyer will make the difference in the outcome of your case so you should ensure that the lawyer you choose is able to swing the final result in your favor.

How Soon Can I File Again?

If you’ve been struggling with debt for a while, finally deciding to file bankruptcy can offer some relief and hope. It’s important to be strategic with the timing of filing your case in order to maximize the benefits and decrease the risk of needing to file again. Life can be unpredictable, even with the best planning, so sometimes people do need to file bankruptcy more than once in their lifetime. Bankruptcy law does allow for this, with some restrictions and guidelines.

Exploring New Options

If life circumstances have led you to more debt and you need to file an additional bankruptcy, we’ll need to get the facts of your previous case and current situation. If you previously filed a Chapter 7 and need to file a 7 again, you’ll need to wait eight years to do so. If you filed a Chapter 7 and now want to file a 13, you’ll need to wait four years.

After your first Chapter 13, you’ll need to wait two years to file a 13 again, but we’ll need to look closer at your circumstances before moving forward. If it’s been two to six years since your first 13, the trustee has the option of not approving another 13. If they do not approve, you may be able to file a Chapter 7, as long as you’ve been keeping up with your Chapter 13 payment plan and have either paid off all of your unsecured debt or 70% of that debt if you can show you’ve been making a reasonable effort. If these conditions have not been met, you’ll need to wait six years before filing again.

Additional Information

Even if most of your debt can’t be included in your new Chapter 13 after a 7, this still may be a wise choice. This situation is classified as a Chapter 20 bankruptcy, and the biggest benefit is that the automatic stay will give you some time to get your finances in order. We can discuss this option to determine if the benefits outweigh the negative consequences.

A bankruptcy case can be dismissed for a variety of reasons, which can be frustrating. If this happens, you will most likely need to wait 180 days to refile, but you may be able to file again right away. We can work together on this; if your discharge was denied or your case was dismissed and nothing has changed in your situation, it’s unlikely the court will approve a new case.

Let’s Work Together

When you file bankruptcy, you expect your finances to improve and never expect that you’ll need to file again. However, unexpected things can happen, and it can be disappointing and frustrating to see your debt begin to grow again. If this happens to you, call me right away so that we can come up with a plan to get you back on track.

Scroll To Top