When a person is in a financial mess and is unable to meet his debts, then he may need the services of a bankruptcy lawyer. In the United States, the Bankruptcy Law, which is a federal statutory law, governs bankruptcy. It is, therefore, important that the bankrupt person selects the right bankruptcy attorney. Here are a few tips on how to go about selecting a bankruptcy attorney: If you are looking for more info, Read More Here
- Reputation & Experience: Bankruptcy proceedings have an impact on a person’s future and it would be well worth it that a bankrupt person ensures that the attorney he’s selecting is well experienced and reputed, so that his future financial life is uncomplicated. Reputed and experienced bankruptcy attorneys have an enviable success track record and they would have set many a bankrupt person’s financial life on track. These are the lawyers to choose because not only do they understand the finer points of the Bankruptcy Law, they also know the local laws, Trustee’s requirements, and how to reconcile the proceedings with the creditors’ lawyers.
- Size: While choosing a bankruptcy lawyer, size does matter and a bankrupt person must always appoint an attorney who works for a medium-big-sized law firm. This is because one-man show law firms may not be available in times of need, and if that happens, the bankrupt person will be at his wits’ end.
- Comfort level: The bankrupt person must feel comfortable with his bankruptcy attorney. A level of comfort does not mean sharing vibes – it goes far beyond that. A bankrupt person must be able to rely on and trust his attorney. Plus, he must develop a feeling of respect for him because the attorney will take him through a very difficult point in his life. If a bankruptcy attorney does not inspire a client to respect or trust him, then the client must move to another attorney.
- Interaction: The attorney must be an open person and must answer his client’s questions and clear doubts, if any. He must explain the bankruptcy procedure threadbare to the client and advise him about all the pros and cons, and make sure that the client understands the entire process.
- Plan of Action: The attorney must formulate a plan of action and inform the client about the best and the worst possible scenarios, along with the pitfalls or bonuses on the way. This is important because the client’s future is always at stake in any bankruptcy proceedings and the client must select an attorney who is capable of devising a sound plan and helping the client restore his creditworthiness.
- Fees: The initial consultation with an attorney should typically come free. If the attorney charges for the initial consultation, then the client may lose out just in case he is not impressed or does not strike a rapport with the lawyer after the first consultation. Before the attorney is appointed, the client must ensure that his fees are reasonable and that the attorney is flexible enough to devise a fee payment plan depending on the progress of the bankruptcy proceedings.
- Options: A good bankruptcy attorney will work with you to thoroughly investigate all other options that may be available to you so that you do not need to file bankruptcy. Bankruptcy is a huge step, and should be avoided if there are options.