Filing for Bankruptcy – Look Before You Leap

In the event of unpaid debts, it is advised to call or e-mail law firms, before attempting any desperate measures such as raiding one’s retirement plan, transferring property, or transferring credit card balances. One must consult bankruptcy lawyers, before making such hasty decisions.

Make sure that experienced bankruptcy lawyers are contacted if one has been sued or if there remains a pending judgment. Once a judgment has been issued, the underlying debt becomes a secured debt and can be paid off by seizing bank accounts, garnishing wages or seizing property.

Note that bankruptcy is not a good solution if one is elderly and/or has no assets that a creditor could garnish (social security wages, as an example) or seize. Even if one has non-exempt assets and debts such as student loans, an Atlanta bankruptcy attorney always advises not to file for bankruptcy.

It should be known that bankruptcy for individuals if of two types- Chapter 13 and Chapter 7. A Cha

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What Everyone Needs to Know About Hiring a Bankruptcy Attorney?

The foremost responsibility of a bankruptcy attorney is to deal with the bankruptcy proceedings of his / her client. They also have to provide them with legal advice and representation in each step of the way. The bankruptcy attorney has to assist his / her client to pay off their debts once a decision has been reached by the courts on this matter. Before anything happens though, the attorney has to make sure that their client fully understands the process and what it means for their financial future. The attorney has to be able to advise the client, if there are other options available to them.

When faced with bankruptcy one of the most important things that one has to do is look for a reputable bankruptcy attorney. There are many attorneys who are not well-versed in bankruptcy laws. For this reason it is important to select an attorney who has experience in handling bankruptcy cases. Also, their level of experience is very important. The more experienced they are, better th

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Bad News for Bankruptcy Attorneys, Bankruptcy Filing Numbers Down

Recently, the numbers of Americans filing bankruptcy were released by the U.S. Bankruptcy Court and it showed a steady decline in filings. While this sounds good for the economy, it also will affect the career choice of a bankruptcy attorney. Bankruptcy attorneys typically strive in a bad economy as many Americans need to use their services to get out of debt. In 2010, the US had a record 1.6 million Americans filing for bankruptcy because of the financial debacle back in 2007. At the end of fiscal 2012, that number had dropped to 1.3 million bankruptcy filings and we are expected to finish this year off around 1 million. Realistically, this number is still very high if we compare that to the record high back in 2005 when it was about 1 million. Back in 2005, there were a large number of people filing for bankruptcy prior to the bankruptcy code changes because of fear of not being able to qualify. When the dust settled and the bankruptcy code was changed it included a means test tha

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A Bankruptcy Attorney Is Extremely Beneficial

A bankruptcy attorney is a very vital part to the field of law. Not only are they important to their field, but they are also important to anyone who is going through financial struggles and is thinking about filing for bankruptcy. Although it may seem crazy to some, that a person going through obvious financial strain, would shell out hundreds or even thousands of dollars to hire a lawyer. This is actually a wonderful idea.

In actuality, not hiring a bankruptcy attorney could turn out to be disastrous. First of all, these professionals have years of background knowledge, training and hands-on experience dealing with these particular types of cases. Because the legal system can be somewhat complex and confusing at times, it’s always a best bet to have someone by your side that is able to properly and successfully see you through your case. Without their assistance, however, you may actually end up in worse shape than when you started.

Going through this particula

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How Bankruptcy Attorney Fees Are Determined?

Bankruptcy can basically be defined as, when a person or entity cannot pay owed creditors. Once a person / entity reach such a financial position, it has to file for bankruptcy. Obviously, the first thing to be considered is the legality of the bankruptcy, amongst other things. One of the hardest things to figure out is the bankruptcy attorney fees, because these vary from attorney to attorney. This makes the process more stressful for people who have to file for bankruptcy. One can file for bankruptcy without hiring the services of an attorney. But, it is always recommended to use one when filing for bankruptcy.

It is better to hire an independent bankruptcy attorney, because firms charge significantly higher fees. Some people first get in touch with the firms and are prepared to pay any amount of money because they feel overwhelmed by their situation. Whether one hires a firm or an individual one has to get the services paid for. As a debtor one has to secure the best legal

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5 Tips for Choosing the Right Bankruptcy Attorney for You

Filing a bankruptcy is a big life choice. As I have written in previous posts it is not nearly as scary as people assume it to be. That said, it is important to choose an attorney who knows what they are doing and who has a reputation for good client advocacy.

You don’t want to get stuck with someone who won’t return your phone calls, is rude, or who gets disbarred after they start taking your money.

What follows are some tips for choosing a good bankruptcy attorney.

1. You can find attorneys with bankruptcy expertise by using the attorney finder function of NACBA. NACBA is the National Association of Consumer Bankruptcy Attorneys. Attorneys that you find on this site have paid dues to the organization which I believe shows that they are committed to the bankruptcy field. You want an attorney who files bankruptcies regularly, not once or twice a year.

2. Another good source is your local bar association. Contact your local bar association and

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Four Critical Reasons to Hire an Experienced Bankruptcy Attorney

If you are experiencing financial distress and are unsure of your options, an experienced bankruptcy attorney can provide critical advice and assistance. Filing for bankruptcy allows you to make a plan to repay your debts or discard them altogether. You may be able to start over by liquidating your assets and repaying your debts, or you may need to get help for your financially protected business. These are four reasons why hiring a lawyer helps in deciding the best course of action to tackle your debt.

1. Help With Complex Laws and Filing Options

The laws surrounding the insolvency process are complex and varied and can be difficult to navigate without a legal professional to guide you. The filing process alone can be very complicated, and making the right choice on how to file could have a permanent impact on the rest of your life. When it comes to individual filing options, Chapter 7 is faster but has a cutoff on income, while Chapter 13 typically involves a 5-year

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What You Must Know About Fees For Your Bankruptcy Attorney – Costs And Types

When you are planning for filing for a Bankruptcy, it’s essential to know about the fees or the Attorney associated with filing the claims. Contrary to the popular myth that the fees for bankruptcy claims are decided by the court, it mostly depends on the type of bankruptcy claim and the law firm handling the case. Most of the times, there is a flat fee for filing, but it may vary depending upon the nature of the case and the legal aid being availed for filing such cases.

Let’s look at some of the types of costs and fees that may be asked by your Law Firm while assisting you for filing the popular bankruptcy claims under Chapter 7 or Chapter 13.

Average cost for Chapter 7 fees:

If you are going for filing Chapter 7, the fees of your attorney will largely depend upon the complicacy of the case. For simple bankruptcy claims, there may be a flat fee, but for complicated cases, it’s the law firm that decides your fees and cost of arbitration. Also,

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Should I Use a Bankruptcy Lawyer?

Often times when people are filing for bankruptcy, they believe that it is an easy process that they can do on their own. To their surprise, the process ends up being much more complicated than they ever imagined. There are new laws happening all the time that continue to complicate the bankruptcy process. Bankruptcy lawyers are familiar with the flaws and are able to inform their clients of all the necessary requirements when filing for bankruptcy. Although bankruptcy lawyers do cost money, they are often well worth the expense.

When someone decides to file for bankruptcy on their own, there are many mistakes that can occur. One of the most significant mistakes is when someone fills out the required paperwork incorrectly. This type of mistake is very common for people filing for bankruptcy on their own and it is often the cause of having their bankruptcy case thrown out of court. If you’re bankruptcy case is thrown out of court, this may cost you more money then hiring

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How To Find The Right Bankruptcy Attorney

At the height of the Great Recession in 2009, more than 1.4 million people filed for bankruptcy protection. As the American economy struggled to regain its footing, that number actually increased the following year. Nearly 1.6 million citizens filed for protection in federal courts in 2010, according to statistics released by the Administrative Office of U.S. Courts.

Though filings have declined of late, tens of millions of Americans are in constant danger of being overwhelmed by their debts. Not surprisingly, lawyers who work in this field are in high demand. In this article, we will discuss exactly what these legal professionals do and how they can save you from losing everything.

But before we begin, nobody wants to file for bankruptcy. Although it is quite common, filing is an incredibly unpleasant process. It is also a public admission of failure, which is why few Americans do it willingly.

Why Contact An Attorney?

Because the U.S. Bankruptcy Code is

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