Bankruptcy Attorney: How To Find A Good One

A bankruptcy attorney is a legal professional who deals primarily with cases concerning clients with financial problems. There are subspecialties in this field of law some of which may be focused on business or corporate dealings while others are more focused on the individual or as legal aid to those who need it.

Requirements

The requirements for a professional to be able to practice this form of law is to actually have a degree in law. Undergraduates can actually start by focusing on this aspect of legalities as early as they want to while those who may have already graduated in law can have additional studies in this field. New or old graduates can take up additional studies pertaining to this field of the law. A bankruptcy attorney can specialize in subspecialties or actually concentrate on a larger field. Other requirements to practice in this field of law are to be a member of certain associations which may be concentrated on the financial side and to actually have follow-up examinations and seminars pertinent to this field. Lawyers usually have some additional studies and seminars to update their field. Some of them also belong to certain reputable establishments or associations that may be influential in the field of flaw.

Where to Look

A recommendation from friends and relatives who may have used the services of a bankruptcy attorney is one of the most ways of finding one. This is actually quite useful because the person who is recommending has actually used the services of the professional and should have achieved success with it. Of course, the prospective client should have some degree of trust in the person who is recommending. Word of mouth from acquaintances and people who have just not may not be reliable. It is also a good idea to initially do some research on the firm even if it is just on the internet. If this does not bring up information pertinent to one's purposes, getting information the old-fashioned way may be the way to do it.

Another place to look for a bankruptcy attorney is the internet. Most professionals advertise their achievements and their services via the World Wide Web. Although it may seem unreliable at first glance, some sites have reviews of the legal professional. Some also give their contact numbers and addresses as well as explain their field of expertise. It is important to note, though, that reputable legal offices have more streamlined sites and more professional looking ones as well. It is imperative that a discreet call be made to the office and some inquiries be made in person to be able to establish if it is a suitable firm for one's purposes or not. Asking the firm's secretary may yield biased answers but is can also yield enlightening ones as well.

Bankruptcy Attorney Provides Some "Do's" and "Do Nots" of Bankruptcy

Not all that long ago, a prospective client told me the kind of story that makes every bankruptcy attorney wince. Over the last several years she had borrowed a substantial amount of money with a home equity loan and used those funds to keep up on her credit card payments and other monthly bills.

I advised her that it is very rarely a good idea to incur secured debt, like a mortgage, in order to make payments on unsecured debts such as credit cards. Unsecured debts are generally dischargeable in bankruptcy whereas liens on property are not. In bankruptcy attorney lingo, liens are said to "ride through" bankruptcy. Aside from home mortgages, one of the most common other mistakes people considering bankruptcy make is borrowing from 401K plans to make payments on unsecured debts. The reason is the same. Like secured debts, the tax liability these people incur is generally not dischargeable in bankruptcy.

At the risk of sounding like a broken record, I will say again that more people should discuss their situation with a bankruptcy attorney as soon as the prospect of serious financial difficulty becomes apparent. One of the most common indicators is borrowing from one lender in order to pay another. Most bankruptcy attorneys do not charge for an initial consultation and a lot can be learned from them in a short period of time. Also, the earlier you talk to one, generally the more that can be done to ensure you discharge as much of your debts as possible while keeping as much of your property as you can.

You never know, a simple piece of advice from a bankruptcy attorney like don't take draws on your home equity line in order to pay credit cards could wind up saving you many thousands of dollars.

Bankruptcy Attorney Explains the Effect of Delayed Foreclosures on Filing Bankruptcy - Part One

It's been an especially busy week in foreclosure news in Santa Clara County, California. I came across a very interesting article the other day in the San Jose Mercury News. The gist of the article was that many area homeowners are in default on their mortgages, but the lenders aren't foreclosing. Apparently they're concerned that real estate prices will decline precipitously if they foreclose on all these homes because a glut of supply will come onto the market. Moreover, these houses likely would remain vacant for an extended period of time and deteriorate from lack of maintenance.

So how does this affect people considering bankruptcy? Especially in light of California's two different systems of bankruptcy exemptions, it can be tricky, even for a bankruptcy attorney. That's why I'm going to break down this blog topic into parts. Each part will examine how this phenomenon affects a different kind of bankruptcy filer.

For the sake of simplicity, I'm going to call the system that closely resembles the federal one the "federal exemptions" and the other one the "California exemptions." Let's look at the first of several differently situated people to examine the possible effects.

Person 1 - Owns a house and has a substantial amount of equity in it.

This person will usually elect to use the California exemptions because they have a higher homestead exemption. Unfortunately, if this person simply saves the money that would have been spent on the mortgage and then files bankruptcy, the bankruptcy trustee will probably want to use all or nearly all the funds to pay off creditors. It's possible the cash could be used to purchase other assets that would be exempt or to pay off debts that would not be dischargeable through bankruptcy, such as student loans, child support, etc. Obviously, good planning and the involvement of a bankruptcy attorney is the key to maximizing the possible benefit.

Bankruptcy Attorney - Protecting Yourself With The Best Legal Advice

A bankruptcy attorney can help you during a financial hardship. No one wants to deal with the inability to pay for things. Going broke is one of the most stressful situations an individual or a business can deal with, so make sure you get the best help available to you in this situation. If you or your business are on the verge of having to file for a form of bankruptcy, then look over these guidelines on how to locate the finest lawyer for your needs.

Sinking into a large amount of debt can be the result of any number of things, such as divorce, layoffs, or illness. A lot of people can feel helpless in this situation, as their options are extremely limited. You may be at a loss just as to how you will be able to pay for bills when you have no longer have any available income. Seeing as how to process of filing for a bankruptcy chapter can be extremely complex and hard for an average person to understand, it is important that you seek professional expertise.

A bankruptcy attorney in this field is a powerful asset to have in the process of digging yourself out of debt, as they are ideally qualified and experienced in this field of legality. In the process of finding the best lawyer that specializes in this area, ask for recommended practitioners and firms and see if any of these offices offer free consultations. This is an important stage in finding the best legal advice, as you can learn a lot about a lawyer from an initial meeting.

When meeting with the person that may end up being your defense in a bankruptcy case, make sure you ask all the right questions. How educated and qualified is the individual in question? Inquire as to what areas of finance they studied in and how knowledgeable they may be in relation to specificities of your individual situation.

In addition, ask the question that any potential client should ask an bankruptcy attorney: How many cases have you won and lost? This is important, because a lot of people can pass a bar exam and earn types of law degrees, but only the skilled and dedicated can fight for you and help you patch up severe financial woes you may be suffering from. Any legal representative should be comfortable with answering any and all of these types of questions, no matter how frank they may be. If this is not the case, then keep looking.

Finally, go with your instincts and make a retaining decision based on whom you think you will be able to work with for a duration of time and under potential stress? A great attorney should be helpful and make you feel as comfortable as possible while in their services.

Finding the best attorney will make the difference in your case. Most people are not qualified or able to understand the complexities of cases dealing with debt. There are a plethora of details in surmounting filing for specific chapters of bankruptcy, so make sure you seek out topnotch legal expertise.

Bankruptcy Attorney: Their Responsibilities and Duties

A bankruptcy attorney is a legal professional who handles cases pertaining to financial difficulties of an individual, company or an establishment. These days, more and more people and companies have often gone bankrupt despite their best efforts not to. The economy and many other circumstances combined often see good businesses go to financial ruin. If and when this happens, it is best to consult a legal professional who is well versed in this aspect of the law. This way, all options will be brought to the attention of the individual, company or establishment.

Career Definition

A bankruptcy attorney is someone who has graduated from law school with a J.D., or juris doctorate. The individual may have had this sort of preference while in law school, thus focusing on the law about being bankrupt or financial challenges. The professional may have also studied additional and pertinent subjects regarding the state of being bankrupt and its legal aspects after he or she has graduated from law school. These can be done before and after passing the examinations for lawyers. Since there are several aspects to this law, the individual may choose among legal aid, consumer bankruptcy and being business lawyers.

What they do

The bankruptcy attorney initially will need to discuss the case and its aspects with the client before filing anything. With an in depth discussion, the legal professional will be bale to assess the problem and recommend the necessary steps for the client or company. The lawyer will then file the necessary legal documents which support the clients claim. He will also advise his client about what the client needs to do after the filing have been done. The bankruptcy attorney will also be the person who will present his client's case in court. They help their clients achieve the most that can be reached in the case that they handle. They give out advice and recommendations about the case that helps the client's save their businesses and keep their good standing in the community.

To be successful in this field, the lawyer needs to have the necessary skills. These skills include, but are not limited to, being able to transact deals well and litigate clearly. He should also have a quick enough mind to be able to analyze a situation clearly and have the foresight to see how certain actions and recommendations may go. Exemplary mathematical skills are also needed in this aspect of the law because of the financial side to it. Knowledge in commercial law and intellectual property law are some of the necessary fields that a bankruptcy attorney should also dabble in. These are some of the hottest businesses these days and many an empire has been built in their stead. The ability to communicate well and connect with their clients, their peers and those of higher standing such as judges, is also another skill that helps lawyers achieve their goals. It is important that attorneys be able to mingle well and be respected by their peers because of the benefits of having the right connections.