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Are you struggling financially and don’t know what to do? Are you stressed out about money and tired of being harassed by creditors? The moment may have come to declare bankruptcy.
Individuals in financial distress are also very vulnerable and at a higher risk of making a wrong decision or engaging in debt settlement agreements that are not in their best interests.
How does this risk affect your financial future?
Your initial priority should be to locate a competent bankruptcy attorney who can protect your interests.
This means they’ll carefully examine if bankruptcy is the best option for your circumstances and, if so, assist you through the procedure from start to finish. Bankruptcy involves several phases, and you will need the assistance of a professional to guide you through the process.
Also, contacting a bankruptcy attorney does not guarantee that you will declare bankruptcy, or it is the ideal option. An expert bankruptcy lawyer will first determine whether it is suitable for you to file for bankruptcy.
So, how can you tell if an insolvency attorney is the best option for you? Check out the list below to discover the top things you need to look for in an insolvency lawyer.
Bankruptcy Experience
While any qualified attorney can assist you in a bankruptcy declaration, you should find an attorney who has expertise with bankruptcy filings. Inquire about the attorney’s bankruptcy practice and the number of bankruptcy cases they have filed.
Also, it would be best if you inquired about the sorts of bankruptcy cases handled by the prospective lawyer. Additionally, you may want to ensure that the attorney you pick to oversee your case has expertise with the kind of bankruptcy you are going to file.
Quality Services at a Reasonable Cost
The price charged by a legal company is frequently a significant consideration in selecting the attorney who will assist you. And besides, you’re already in financial trouble, so paying for the attorney’s services might feel daunting.
Luckily, most bankruptcy attorneys are aware of your predicament and provide excellent solutions for reasonable prices. Fees should not be the deciding issue since you do not want a lawyer who will take shortcuts and fail to give your issue the attention it requires.
Most bankruptcy lawyers charge a fixed fee that should cover a wide range of legal assistance. You must understand which services will be supported by the charge. They should be specified in the retainer contract.
Ability to Meet Your Unique Needs
While experience is crucial, you wouldn’t want to partner with a “bankruptcy mill.” A bankruptcy mill law firm handles hundreds of cases without thoroughly evaluating or concentrating on their clients’ situations. What good is a lawyer if you never consult with them? Before hiring a bankruptcy attorney, you should investigate their reputation.
Local Practice
Your bankruptcy attorney should be knowledgeable of the local regulations of the jurisdiction where your insolvency case will be lodged, in addition to knowing federal bankruptcy laws.
Bankruptcy processes differ from one jurisdiction to the next. That is why you should search for a bankruptcy lawyer who has worked in the area you want to file. You can benefit from their expertise in local court processes and personnel.
Availability of The Lawyer
Figure out what aspects of your matter will be handled by the lawyer. Who will be working on your petition? Inquire about the time it would take for your calls to be returned. You must determine whether or not you are satisfied with the answer.
Your Level of Comfort With The Lawyer
You should feel at ease with the lawyer throughout your initial session. It may seem apparent, but hiring an attorney with whom you are uncomfortable or who you believe is uninterested in your case will not benefit you. You would want to hire someone you would trust and with whom you could easily speak to.
Filing for bankruptcy is a stressful experience for most individuals, so it’s critical that you feel comfortable with the lawyer you’re dealing with.
This is particularly true if you file Chapter 13 bankruptcy, which usually lasts between 3 and 5 years. As a result, regardless of how competent the attorney is, they aren’t the right attorney for you if you do not feel at ease with them during your first encounter.
Bottom Line
Bankruptcy is a complicated procedure that may quickly spiral out of hand if you don’t know how to proceed. Contact Levitt & Slafkes if you live in New Jersey and have bankruptcy questions or are prepared to discuss with a lawyer about filing.
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