If you are considering filing for bankruptcy protection, you need to make sure that you are hiring a reputable bankruptcy attorney. There are two types of bankruptcy lawyers: business bankruptcy lawyers who can help you effectively file for bankruptcy for your company, and consumer bankruptcy lawyers who can help you file either for yourself or with a friend for personal bankruptcy protection. The bankruptcy laws are very complicated, and it is advisable to work with an experienced attorney if you are considering filing for bankruptcy protection for your company. A business lawyer can help guide you through the complex laws and regulations governing the bankruptcy protection process, which can make the proceedings difficult for you. Conversely, a bankruptcy lawyer who works with a client on a personal level can offer invaluable advice regarding how to handle the bankruptcy proceedings.Read the full article.
Once you have decided to hire a bankruptcy attorney to help with your filing, it is important to set up a meeting with that attorney. This meeting is not mandatory, but it can be very helpful in the later stages of the process. The first step is to discuss your situation with the bankruptcy attorney. He or she will evaluate your financial situation and determine the best course of action for you. For example, if you have several thousand dollars of outstanding debt, your bankruptcy attorney may suggest that you sell your property and pay down the debt. In many cases, this means selling a home and moving to another state.
Once you and your bankruptcy attorney have discussed the debt-related options, you and your attorney will discuss the other details of your case. During this stage, your bankruptcy attorney will determine if filing for bankruptcy protection will actually solve your problem and allow you to keep control of your finances. In most cases, the answer will be “yes.” If your debts are so extensive that you cannot possibly repay them, the only solution is to file for bankruptcy protection. However, if your creditors are willing to work with you, they may be able to reduce your debts and forgive some of your penalties.