What to Look For in a Bankruptcy Attorney and How to Find One

Nobody wants to think about bankruptcy, but in these economic times, it may be a necessity for many. Although it may be painful to have to file for bankruptcy, but choosing the wrong attorney can make it even worse. The following are some tips on what to look and what to avoid when choosing a bankruptcy attorney.

Stay Away from Storefront Operations

If bankruptcy is imminent, then time is of the essence. Avoid the fly by night operations that advertise bankruptcy services at ridiculously low prices. Not only are these places likely to mishandle a bankruptcy, but added fees and services will make it much more costly than originally advertised. Look for a legitimate attorney that has years of experience in the field. It will be more expensive, but the bankruptcy will be properly filed and handled, which will save money, not to mention headaches in the long run.

Licensing

As with choosing a doctor, a good bankruptcy attorney should be licensed by the state bar. If they are not, then they are not authorized to practice law in that state. The state bar can provide licensing information, as well as any disciplinary action regarding an attorney.

Check with Agencies

There are agencies and organizations that have either worked with bankruptcy attorneys, or have knowledge of their experience. The American Bankruptcy Institute is a good place to start. The ABI is an organization the even Congress taps for their expertise. They may have information, or even members that are available for bankruptcy proceedings. Members of the ABI have had to meet additional standards beyond what the average bankruptcy attorney has met.

Legal Aid

Local legal aid organizations may be able to assist in finding a good attorney as well. In all likelihood they have worked with bankruptcy attorneys in the past and may be able to recommend someone suitable for a particular case.

Visit Different Attorneys

Many attorneys offer free or low-cost initial consultations. This is an opportunity to talk to the prospective attorney and assess if they are the right one for the job. Have a list of questions ready to ask the prospective attorney. Here are a few standard questions for any bankruptcy attorney. These certainly are not the only questions a bankruptcy attorney should be asked, they are a good starting point.

1. How many bankruptcies do you handle in a year? Will you have ample time for my case?
2. Will I be working with the attorney or an office paralegal most of the time? How much access will I have?
3. What is the process exactly?
4. How long will the process take?

Most attorneys will be happy to answer these questions. Those that will not, or give evasive answers are most likely too busy or inexperienced, and another attorney should be interviewed.

Bankruptcy is an unpleasant experience, but a good attorney can help mitigate some of the pain. Remember, many bankruptcies are little more than a restructuring, so it is not necessarily the end of the world. A poor attorney can make it seem that way though. Do the research, find a good attorney, and stay on top of the proceedings. Even the best attorneys can miss something, such as leaving out a particular creditor, so stay involved and request updates frequently. Working interactively with a good attorney will make the process go as smoothly as possible.

Hiring A Bankruptcy Attorney To File Under Illinois Bankruptcy Laws

Filing liquidation under the Illinois bankruptcy laws is not an easy thing to do in a sense that you need to be aware of the complicated set of specific laws related to impoverishment that is applicable only in the state. This is because of the complications involved in the various bankruptcy laws in Illinois that we always suggest debtors to hire a highly qualified and experienced attorney to handle your liquidation case. When it comes to filing bankruptcy under the state laws, there are several things that you need to take into your careful consideration.

License Of The Bankruptcy Attorney

The first thing that you have to make sure is that the attorney has a valid license to handle impoverishment cases in the state. Some people have the misconception that all the bankruptcy lawyers are authorized to handle cases in all the states, which is not true. The attorney gets the license to handle such cases in a specific state only. In some places, where the boundaries of the states meet, the attorney may get the license to handle liquidation cases in more than one state. So, it is prudent to check all these things before hiring the attorney.

Attorney Fee

The bankruptcy attorney will charge you a fee, which is usually a substantial amount. Therefore, while choosing the right attorney to file insolvency on your behalf under the state laws, the first of the few things that you must ask the attorney is the amount they will charge. You must try to get into the details because sometimes, there are hidden charges that you come to know only when it is too late.

Interview The Attorney

You are planning to hire a liquidation attorney because you want someone that could defend your claim successfully in the courts. Therefore, do not hesitate in asking questions. It is important to ensure that the attorney you have chosen is the best one for your case. The attorney must be able to make things easier for you, keeping in mind that the Illinois bankruptcy laws are complicated ones and it is not possible for a common person to be aware of everything. The attorneys are the specialized persons and they know how to use the various clauses of the bankruptcy code in favor of the debtor. If you are filing bankruptcy under state liquidation laws, you will require filing out a number of free forms. You have to be very careful while filing out these forms because if the court finds some manipulation with the facts, you may end up paying out some penalties. Your attorney must help you in filing out these forms.

Bankruptcy Lawyers

Bankruptcy lawyers are experts in the laws of bankruptcy. They are the ones capable of helping enterprises discharge their debts. They do this by helping their clients distribute their assets over their creditors or by aiding them in devising a plan on how they can pay their creditors over a period of time.

It is the main responsibility of bankruptcy lawyers to explain to their clients the ins and outs of bankruptcy laws. They are the ones who should explain how bankruptcy laws could help certain businesses to recover from bankruptcy and fulfill their obligations. Among the topics they should discuss with their clients are the types of bills that can be eliminated, the allowable extension of payment deadlines and possessions that can be kept by the client. Likewise, they should be the ones to analyze the available options that can be taken by their client, depending on the bankruptcy reported. Basically, there are two types of bankruptcy: voluntary and involuntary. Voluntary bankruptcy is when the debtors and the lawyers are the ones who initiated filing for bankruptcy. Involuntary bankruptcy, on the other hand, is when the creditors and their lawyers file for bankruptcy of a certain enterprise.

Bankruptcy lawyers handle two types of proceedings. The first one is liquidation wherein the lawyer is responsible for finding ways on how to distribute the remaining assets of the client to pay off debts. The second one is debtor rehabilitation. This involves getting a legitimate plan on how the debtor can pay off financial obligations using future earnings.

The services of bankruptcy lawyers should be availed by companies who are seeing foreclosures. They can be very helpful in finding ways on how such enterprises can eliminate their debts. The easiest way to find bankruptcy lawyers is to search the Internet. There are sites that feature available bankruptcy lawyers. This is particularly applicable for clients in the United States. There a number of sites that post information regarding bankruptcy lawyers located in different states of the said country.