Business & Finance Bankruptcy

How To Find And Choose Affordable Bankruptcy Lawyers?

Before initiating your search for an appropriate bankruptcy attorney, it is important that you understand that there are 4 main kinds of bankruptcy - Chapters 7, 11, 12 and 13. Out of these only the chapters 7 and 13 are the personal bankruptcy options. Chapter 11 is for the corporates while the Chapter 13 is for agricultural purposes. For each of these there are specialists. Therefore in case you are have a case of Chapter 7; you must go to a specialist Chapter 7 bankruptcy attorney and not some other lawyer not possessing enough knowledge in this field.

The first step while finding a good bankruptcy attorney is to find the names of some of the best lawyers practicing in the bankruptcy area. It is recommended that you avoid general practitioners as they do not specialize in this particular area. Check the references of the attorney to determine whether the person is actually capable of handling the bankruptcy cases or not. Being careful is the key to finding a successful solution. The practice of this law is very intricate and a minute mistake can cause a big loss. It can affect whether the debtor will receive a discharge or the case will be dismissed. It is not just sufficient to make sure that the lawyer is into bankruptcy law practice. There are different specialists for different Chapters of it. So determine which Chapter your case is related to and find a suitable attorney.

Another important matter of consideration for the potential bankruptcy-debtor is whether the attorney will appear at the meetings of the creditors or not. Once all the formalities and paper work has been completed, a meeting is called by the court. This meeting is often termed as the first meeting of the creditors. It is the first instance for the debtor to meet the bankruptcy trustee and the disapproving creditors. In case the attorney of the debtor does not come to the meeting, a replacement attorney would have to be selected. Of course, you will like to stick to one only. Therefore choosing a good one at the first go is important.

The fee charged by the attorney is a major matter of concern. There are only a few good affordable bankruptcy lawyers and finding them can be tough but not impossible. Internet is the best place to look for these. The fee varies from attorney to attorney. Also, it depends on the list of duties that the lawyer is expected to perform. Additional charges are also applicable if a petition has to be amended or if the lawyer is required to appear in some meetings other than the meetings with the creditors.

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