Bankruptcy Attorneys
A bankruptcy attorney can help an individual through one of the hardest periods in their life. Filing for bankruptcy is a difficult decision but having a good bankruptcy attorney can make the process as painless as possible. The last thing one needs when filing for bankruptcy is to worry about the performance of their bankruptcy attorney. After finding a good bankruptcy attorney, one should be prepared to begin the process of preparing for the bankruptcy. Some cases of bankruptcy may be very straight forward, while others are more complicated. It depends on the individual’s situation. While finding a good bankruptcy attorney may seem like a daunting task, good bankruptcy attorneys should be able to answer some basic questions that their potential client may have.
• Many of the questions that an individual filing for bankruptcy may be asked at the initial consultation with the bankruptcy attorneys. Good bankruptcy attorneys will usually know most of these answers off the top of their head, although it is unrealistic to think that a bankruptcy attorney should have every aspect of every bankruptcy law memorized. Besides the issue of cost, there are other important questions that should be asked of bankruptcy attorneys before an individual decides to hire them. While cost may be a big issue, it is not the only issue that one should look at. One of the most important issues is finding out what previous experience the bankruptcy attorney has had with previous bankruptcy cases. Since many bankruptcy attorneys specialize in financial issues, it is likely that the bankruptcy attorney has had a fair amount of experience with bankruptcy cases. However, hiring a novice bankruptcy attorney may not be a good idea, even if they are cheap. A bankruptcy attorney with experience is important. Bankruptcy attorneys should be able to tell a potential client what they can expect when filing.
• Finding out what the outcome of the previous bankruptcy cases that the bankruptcy attorney had is also important. Some bankruptcy attorneys may have a lot of experience with bankruptcies, but does not have good experience. One may ask the bankruptcy attorney is willing to give them contact information from previous clients. That way, the individual can call the previous clients and see if they had positive experiences with the bankruptcy attorney. However, this idea may not work since bankruptcy attorneys, or any attorney for that matter, is going to refer one to a client that they had a bad experience with. It still may be a good idea to get others opinions though.
• One should always find out what certifications a bankruptcy attorney has. Some bankruptcy attorneys concentrate completely on bankruptcies while others may branch out by handling other financial issues. The ideal bankruptcy attorney will be one who is dedicated to bankruptcy alone. Some bankruptcy attorneys have special certifications to practice bankruptcy law and therefore will be especially experienced. An individual should not stop at those questions. One question that an individual may wish to ask if the bankruptcy attorney usually represents in bankruptcy cases. Since companies that are owed debt may file suit to try to stop the individual from being granted a bankruptcy, bankruptcy attorneys also tend to work for the debtors as well. Finding out who the bankruptcy attorneys usually fight for is very important. A bankruptcy attorney who is used to working with debtors may not be a good hire. Bankruptcy attorneys who generally tend to go to bat for the ones filing bankruptcy will probably have a much better idea of what the process is like from that viewpoint.
• If one does decide to hire a bankruptcy attorney, then they will be the one to be asked the next set of questions. There are several things that bankruptcy attorneys need to know as they begin filing for the individual. All bankruptcy attorneys should ask these questions, since they are relevant in every bankruptcy case. One of the first and most obvious questions that a bank attorney will ask is about what debts the individual has. Some debts are not listed on a person’s credit report. Those debts should still be taken into consideration and told to the bankruptcy attorney. One should provide the bankruptcy attorney with a complete lists of debts owed as well as the debt amount and the contact information from the debtors. This allows bankruptcy attorneys to contact the debtors quicker. Along with debts owed, a bankruptcy attorney will also ask an individual about any assets the person owns. This may include stocks, bonds, houses, cars and other things. The amount of money that one has in a savings account as well as any expensive items they own are also considered assets.
• All bankruptcy attorneys will ask their client about their income. This is a very important question, as it will help to determine the amount of money one will have to pay per each repayment of debts after the bankruptcy is complete. Income usually is based one what an individual has made in the previous few years as well as what they are currently earning. Even someone who does not hire bankruptcy attorneys will have to show income statements in court. Previous tax returns are the best way to show income, since it is unlikely that a person kept every pay stub they were given for the last few years. This is also obvious for someone who is self-employed as does not collect any pay stubs. Even if a bankruptcy attorney does allow for one to show pay stubs, the person will still be required to show three years of tax returns. One must also inform the bankruptcy attorney of any back taxes they owe, since that might affect the outcome of the case. These guidelines are all standard as per the United States Bankruptcy Court. Bankruptcy attorneys can not make exceptions for clients, since the guidelines are not up to them.
Bankruptcy attorneys and their clients should be able to trust each other. Clients should not lie about any financial issues that they have. Bankruptcy attorneys should never lie about their previous bankruptcy experience. Such actions will not only prolong the case, but could get both the bankruptcy attorney or the client in legal trouble. Honesty is the best policy when establishing a good relationship between themselves and their bankruptcy attorney.
