Bankruptcy Law Office

Approaching a bankruptcy law office for the first time can be a daunting experience. The fear and shame that can be attached to any kind of bankruptcy decision will often inspire insecurity and trepidation in even the most confident individual. Locating the right legal professional to provide leadership in this difficult experience can be a challenge. The desire for a fresh start and a way out from under impossible debt are what usually drive clients to seek out a bankruptcy law office. Five different kinds of types or chapters of this legal procedure exist. For individuals, only three chapters apply. Chapter 7 is a type of liquidation to pay off debt. Both Chapter 13 and Chapter 11 involve a reorganization of debt. In recent years, more stringent guidelines apply to anyone who faces going bankrupt. For this reason, consulting a seasoned legal professional is an absolute must. This is an area of law that no layperson should attempt to handle alone.

When seeking the appropriate bankruptcy law office, a client should not settle for anything less than a professional with extensive experience in this area. A good source for names of working professionals in this field is the local bar association. Obviously, local phone books or online directories can also provide a list of appropriate names. A potential client should not be afraid to take the time to meet with and interview several lawyers before making a selection. In sensitive areas such as this, personal chemistry can be almost as important as expertise. A bankruptcy law office that is intimidating or uncomfortable will not encourage a client to ask needed questions or share personal information. Many professionals will offer consultations and initial evaluations of individual cases free of charge. Friends and family members may also be able to guide a potential client to a respected professional in this field. An important question to ask an attorney is the amount of experience the lawyer has in this area. Another possible question to ask might be who will be handling the case, the lawyer being interviewed or a junior associate? Of course, a client will need to see a full schedule of legal fees.

Once an acceptable bankruptcy law office has been located and a client understands the fees that will be charged, there will still be other details to iron out. A client should make sure that they understand what services are included in the fees that are being charged. If there is a dispute with the trustee, is there an extra charge involved in handling this dispute? Are issues such as lien avoidance and non dischargeable actions included in the fee schedule or will there be an extra charge for handling these problems? As things proceed, a client should never withhold information from the legal professional who is working for them. Doing so can only cause problems down the road. Just because a legal professional has been retained does not mean that the client can kick back and coast. All communications, court notices, legal agreements, and other information should be read carefully by the client. A client should never hesitate to ask questions about anything that they do not understand. If additional information is requested, the client should comply and furnish this information in a timely manner. Important deadlines are frequently looming, making this data crucial in insuring that things move along as smoothly as possible.

In times past, a Chapter 7 filing was much easier to achieve. More stringent laws now apply, making the need for help from a competent bankruptcy law office mandatory. Six months before any filing can move forward, a client must undergo credit counseling. Also necessary under the law is attendance at a debt management class. Under new laws it is easier for courts to dismiss some bankruptcy cases. Courts also have the right to change a Chapter 7 filing to a Chapter 13. Professionals at a bankruptcy law office can guide the client through these changes in the law. A Chapter 7 case generally means that assets will be liquidated and the proceeds applied to the debt that is owed. The client is then released from any responsibility to pay off any remaining liabilities. When filing in the Chapter 13 category, reorganization is the operative word. A consumer's indebtedness is organized in a way that hopefully makes pay off with future earnings possible. The same is true for Chapters 9, 11, and 12. The Bible talks about the eternal qualities of the Word of God. "But the word of the Lord endureth for ever. And this is the word which by the gospel is preached unto you." (1 Peter 1:25)

A reputable bankruptcy law office can also help a client hang on to as many assets as the law still allows. Legal professionals understand which properties might be considered exempt by the court. Many clients are relieved to find out that they not need to loose everything that they own. This exempted property is protected from seizure. In many cases, not only is the property protected, but any equity that the property may have earned is protected as well. Equity is basically the difference between the money that is owed for a piece of property and the value of that property. Of course, these possible exemptions can vary from state to state. There are also differences between the exemptions that are allowed under federal regulations and ones that are allowed under state regulations. Some states will allow the client to choose which regulations will apply to their case.

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