Well the main thing to note is that practicing law can have many niches or specializations. There are family lawyers, criminal lawyers, divorce lawyers, tax lawyers and yes, even a bankruptcy lawyer needs to specialize. The reason behind specializing in different areas of law is because the law is a vast, complicated umbrella of human regulation – definitely not something one person can master. A bankruptcy lawyer needs to know the bankruptcy laws inside and out. Furthermore, depending on the state you reside in, the laws can vary. This means that while a lawyer may specialize in practicing bankruptcy law in one state this does not necessarily mean they will know all the ins and outs of the law in another state.
Finding a bankruptcy lawyer is necessary if you think you are facing a filing. While you might be able to seek some general advice from any lawyer, any lawyer would recommend you see someone who specializes immediately. Talking to a bankruptcy lawyer doesn’t mean you have to file but they can inform you of your options and your rights. If you have already begun receiving calls from collections agencies, credit bureaus or other creditors then there is a good chance you will be filing for some form of bankruptcy. Bankruptcy is not just a general thing either. There are different forms of filing, depending on your situations, and your lawyer will tell you which filing is most suitable.
The different forms of bankruptcy available to you are Chapter 7, Chapter 9, Chapter 11, 12, 13 and Chapter 15. Each filing involves different obligations, one requires you to liquidate all your assets and several of them involve “reorganizing” your finances entirely. A bankruptcy lawyer will help make these thing more tangible for you but perhaps the most useful thing your lawyer will do is call off the creditors. Keeping creditors at bay is a handy thing for sure but more than that, a bankruptcy lawyer will fill out all the relevant paper work and keep you on time for all your court dates.
The law is a finicky thing and bankruptcy law even more so. A simple mistake on the paperwork can send you back to square one or render you ineligible for filing. This is why a bankruptcy lawyer is a good investment. They deal with these laws, hoops and loopholes everyday – there is no one who will be able to serve you better. Getting your finances reigned in is your top priority and in order to this you need to secure the services of a professional with a proven track record. Do your homework and choose a bankruptcy lawyer who gets results and is willing to demonstrate their credibility.
Lawyers go to school for years and practice law for years, continually learning as they go. Bankruptcy is not something you can or should tackle on your own – there is no Dummies Guide that can truly prepare you for the amount of work and technicalities ahead. Finding yourself in this position does not make you unique – not in this day and age. Recent economic times have put many people in a similar position and the past is littered with those who have filed, learned a lesson and recovered spectacularly. Donald Trump has filed for bankruptcy before and we all know how well he is doing now. While you might think “of course Donald Trump had an excellent bankruptcy lawyer, he could afford it!” But getting a bankruptcy lawyer is the one financial decision you shouldn’t be worrying about at the moment.
Not only will you recuperate your legal investments when the tide changes but that legal investment is the only thing ensuring you that the tides will change. The investment will likely be much less than what you imagine because in this state of finance you can’t help but imagine the worst. Inform yourself by getting quotes and taking advantage of any consultations you can attend. It is possible to save your business or your home, not all forms of bankruptcy mean that you are going to lose your shirt. A bankruptcy lawyer will never be an investment that you regret but it will be a life and financial lesson worth every cent to learn.
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