Bankruptcy lawyers work hard to not only help you win your case, but they provide valuable insight into the process of filing for bankruptcy and therefore, alleviating the burden that is your debt.
Bankruptcy laws are incredibly complicated and filled with nuances that would make even certified bankruptcy lawyers’ heads spin. What does it mean for laymen who have very minimal understanding of the process that needs to be followed when filing for bankruptcy?
You may think that when filing for bankruptcy, opting out of hiring a lawyer would establish that your financial status is at an all-time low. When in fact, it would only hurt your case to try and file for yourself.
Filling out forms and accepting the fact that you need help repaying your debts is an incredibly daunting step to take. With one wrong move, you could find yourself losing all of your assets, not to mention your home.
You may think that filing for bankruptcy would equal to you hitting the financial rock bottom everyone dreads. On the contrary, filing for bankruptcy is an essential step you need to take in order to get a fresh start on your finances and achieve financial freedom.
Bankruptcy lawyers like Resnik Hayes Moradi LLP are usually in charge of filing any paperwork you fill up and submit that is required by the court. They offer legal advice as well as expertise on the nuances of court and bankruptcy law that only an experienced, certified lawyer will be able to give you.
While every bankruptcy case is different, with some being more complicated than the others, bankruptcy law is incredibly complicated. Even the most experienced board-certified bankruptcy attorney will have trouble meeting all of the court’s demands for your case.
According to Resnik Hayes Moradi LLP, several factors determine the difficulty of your case and certified bankruptcy lawyers are trained to know how to assess each case.
Bankruptcy lawyers will assess the circumstances of your case and determine whether you should file for a Chapter 7 or Chapter 13 bankruptcy. They will also determine whether your case will be handled as a no asset bankruptcy case or otherwise wherein you will be required to surrender your assets to a bankruptcy trustee.
One of the easiest ways to determine whether you are comfortable with the competency of your prospective attorney is to find out their background in cases like yours. An attorney who has represented clients who have had the same financial struggles in the past would have more experience dealing with your case and would ultimately be able to anticipate and fix any problems that could arise.
The right bankruptcy attorney will gently guide you through your case and provide you with all the information you need in order to obtain complete financial freedom. You may expect your attorney to tell you what kind of bankruptcy case would be right for you or if you should opt out of filing for bankruptcy instead.
Make sure that your retainer agreement will meet all of your needs and outline all of your attorney’s duties throughout the case.
The right attorney will also identify any potential problems or risks your case has and fully prepare you for the process of filing for bankruptcy and fulfilling your duties after.
It is also vital to understand that a truly experienced attorney will take the time to answer all of your queries and concerns promptly and with patience. If an attorney does not take the time to counsel you and your concerns aptly, they are not the right fit for you.
Perhaps most importantly, your bankruptcy attorney will represent you at court hearings and make sure you make an appearance at every court mandated hearing. Usually, you will be required to attend what is called the 341 meeting of creditors, but depending on the circumstances surrounding your case, you could be required to attend additional court hearings.
In general, you would expect to be represented at Chapter 13 confirmation hearings, Chapter 7 reaffirmation hearings and hearings for any additional motion or objections have been filed, whether against you or for you.
Usually, your attorney will notify and prepare you for any court hearings you should expect to attend. Bankruptcy laws are extremely strict and one missed attendance from you could jeopardize your whole case.
The right attorney is essential if you are sincerely looking for a way to clear your debts in due time. Finding the right attorney will not only make the process easier for you, but they will also enlighten you and guide you through a series of hurdles you will need to encounter before, during and after your case.
2 comments on “Bankruptcy Lawyers: What do They Do?”
Rachel Frampton
December 21, 2020 at 1:19 amMy dad can no longer pay for his mortgage and other debts, which is why he has decided to start looking for a bankruptcy attorney that can help him out. Thank you for also clarifying here that filing for bankruptcy is very complicated and is why professional help is needed. I guess you’re also right that it would be best if he’ll conduct a background check about his prospective lawyer.
rachel frampton
February 5, 2021 at 6:50 amMy sister would like to file for bankruptcy because she can no longer pay for her debts. Well, it’s a good thing that you clarified here the importance of filling out the forms. It also helped when you’ve stated here that this type of professional will prove that her financial status is low.