Debt is often compared to a trap. It’s easy to get into but difficult to get out of. When these debts start piling up, and you find yourself overwhelmed by overdue payments and even face a possible lawsuit, filing for bankruptcy becomes the only option left. Filing for bankruptcy can be particularly challenging, especially if you own a company with the potential to make a significant impact in the business industry. In such a dire situation, know that filing for bankruptcy does not mean the end. It is time to consult and seek the advice of a bankruptcy attorney who provides you with the right guidance throughout the process.
Some people may seek the guidance of a professional, while others think they can accomplish the process themselves. While, surprisingly and technically, they can because they do not want to incur another expense. It is called a pro se filing or filing for bankruptcy without a lawyer. However, if you own several businesses with troublesome complications and complexities, this is the time to let an experienced lawyer handle your situation.
When to hire a bankruptcy attorney instead of DIY?
Merely knowing the bankruptcy laws that apply to your situation does not resolve everything. Pro se filing comes with risks and long-term consequences. You will be responsible for several tasks, including presenting and filing completed court documents and paperwork, passing the Means Test, and meeting with bankruptcy trustees. Moreover, the process is arduous, and you have to abide by the strict rules, deadlines, choices between state and federal exemptions, and other requirements. You may also represent yourself in court when necessary.
While hiring a bankruptcy attorney allows you to breathe a sigh of relief, it is important to remember that your lawyer will handle the court filings professionally, protect your assets, ensure qualification, and represent you in court. Moreover, here are what to look for in a bankruptcy attorney:
Experience and Specialization
Look for a lawyer who has enough experience in handling cases that are similar to your case, whether they have handled Chapter 7, Chapter 13, or other types of bankruptcy. If they have won several cases and considerably helped many clients, consider hiring the attorney!
Effective Communication Skills
Dealing with bankruptcy is stressful enough, and if your lawyer isn’t communicating enough, you’d better get another who can listen intently, ask questions about your financial status, and explain options that are best for your interests.
Here are common mistakes when hiring an attorney:
Lack of Research
The lack of research for the background of a so-called attorney is like adding to your already piling-up bankruptcy problems. Failing to check or investigate your lawyer’s experience is one of the pitfalls in the bankruptcy process. Lawyers have different fields, so choosing one who isn’t a bankruptcy expert may not fully navigate your case’s complexities.
Overlooking Client Testimonials, Reviews, and Fee Costs
Another mistake is choosing a lawyer and not checking the reviews and testimonials of previous clients. These reviews are enough evidence that you should know before proceeding further. Moreover, check the fee costs, whether they are too affordable or too expensive. Practice background checking, especially when looking for a lawyer who can handle a tough bankruptcy case.
Are you ready to hire or still choose to DIY? Opt for the best option and hire the best bankruptcy lawyer in town. Richard Hackerman has all the qualities that you want to look for in a bankruptcy attorney. Contact our office at 410-243-8800.