Bankruptcy Lawyer

By: Ken Charnly

What can be more pathetic than being bankrupt? It has to be making the decision to file for bankruptcy. And what can make it more pathetic is to find a good bankruptcy lawyer for this purpose. In this 21st century of cut throat competition it might not take long for an individual to file a case a bankruptcy when the individual concerned is reduced into nothing. But hardly does a common man know the procedure or the requirements of filing for bankruptcy. This is the necessity of a bankruptcy lawyer comes into the picture.

But what is more important is the choosing of a bankruptcy lawyer who can file and win the title of bankrupt for his client. There are a few steps that are being highlighted below and what may help an individual in choosing a bankrupt lawyer to serve his or hers purpose. The toughest part of this whole is, choosing whether or not to file a case for bankruptcy. And if the choosing part leads to the answer yes, then that is from were the individual will feel the necessity of a bankruptcy lawyer.

Bankruptcy is actually a special area of the law, which makes it all the more important for an individual to hire a lawyer who has all the respective knowledge that is usually required in this field. Thus, the most essential and important step should be to contact the local bar association of the locality. This is usually done to take there advice before deciding upon which lawyer will the individual will entrust his case to prove him bankrupt. The individual can also choose his own lawyer and then ask the associations thoughts and concerns over this lawyer.

The individual can also take recommendations from the association regarding the lawyer of his choice. As the bar keeps in touch with these lawyers, it has its views and thoughts against them, and depending upon the nature of the case the association also suggests a list of lawyers, who the association thinks are capable of handling this case.

The individuals concerned should however not restrict themselves to only what the bar says or what the individual thinks, the individual should try to gather information about the lawyer or any other lawyers by asking and enquiring to their friends, colleagues and their relatives. Or even better is if the individual can enquire to other lawyers and attorneys regarding the lawyer of his choice or any other lawyer that may suit his or hers case requirement.

The individual can also search online on the web before coming to a decision and before deciding upon his choice among the lawyers. After all these searching and scanning if any lawyer suits the individual’s requirement and comes within his pocket size, then he is the man!!

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Ken Charnley is a personal finance enthusiast with www.online-loans-pro.com/ dedicated to quality information on online loans. For all your online loan needs visit and apply for loans online
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Bankruptcy Law - A Basic Discourse

By: Dean Shainin

The Bankruptcy law is a federal statutory law contained in title 11 of the United States codes. Congress passed the Bankruptcy Code under its Constitutional grant of the authority to establish a uniform law on the subject of the bankruptcy through out the United States. States may not regulate bankruptcy though they may pass the laws that govern other aspects of the debtor-creditor relationship. A number of the sections of the Title 11 incorporate the debtor - creditor law of the individual.

Bankruptcy allows a debtor, who is unable to pay his creditors to resolve his debts through the division of his assets among his creditors. The debtor is forced to resolve his debts through the division of his assets to his creditors.

This supervised division also allows the interests of all creditors to be treated with some measure of equality. Certain bankruptcy proceedings allow a debtor to stay in business and use revenue generated to resolve his or her debts. An extra purpose of bankruptcy law is to allow certain debtors to free themselves of the financial obligations they have accumulated, after their assets are distributed, even if their debts have not been paid in full.

A United States Bankruptcy court supervised bankruptcy proceedings and is where bankruptcy is litigated. These are parts of District Courts of the United States. The congress has established The United States Trustees to handle many of the supervisory and administrative duties of the bankruptcy proceedings. Proceedings in bankruptcy courts are governed by the Bankruptcy Rules which were promulgated by the Supreme Court under the authority of Congress.

There are two types of Bankruptcy proceedings.

* Chapter 7 is called liquidation. Informally called "straight bankruptcy," the most common type of bankruptcy proceedings liquidation involves the appointment of a trustee who collects the non-exempts property of the debtor, sells it and distributes the proceeds to the creditors. The debtor turns over all non-exempt property or assets to the bankruptcy trustee who then converts it to cash for distribution among the creditors. At the end of the proceeding the debtor receives a discharge of indebtedness or the discharge notice, for all dischargeable debts, releasing him or her from personal liability for those debts.

* Chapters 11, 12, 13, involve the rehabilitation of the debtor to allow him or her to use future earnings to pay off the creditors. Chapter 11 is reorganization. In this chapter the debtors are allowed to continue its operations while paying their debts. In chapter 13, the lawyer and the debtor propose a plan to repay debts over a period of time up to three years.

A trustee is appointed to supervise the assets of the debtor. The debtor can either enter the bankruptcy proceedings or it can be initiated by the creditors. The creditors may not seek to collect their debts outside the proceedings at the most part, after the bankruptcy proceedings is filed. The property declared as a part of the state can not be transferred by the debtor to his property. Furthermore, certain pre-proceeding transfers of property, secured interests, and liens may be delayed or invalidated. Various provisions of the Bankruptcy Code also establish the priority of creditors' interests.

The latest bankruptcy law is in effect. The landscape has changed for those who are considering bankruptcy. Before the debtor can file a bankruptcy case, they should undergo credit counselling, budgeting and debt managements before the debt is wiped out. Chapter 7 is not allowed to be used by a filer with a higher income, but instead they will be paying the sum of their debt under chapter 13. It will be tougher to find an attorney to represent you in a bankruptcy case because the law imposes new requirements to the lawyers.

Article Source: http://articles.directorygold.com


Dean Shainin offers online tips and debt advice. For more information, articles, news, tools and valuable resources on bankruptcy and debt solutions, visit this site: Bankruptcy Law

Looking For An Effective Bankruptcy Lawyer

By: Dean Shainin

Bankruptcy is a specialized area of law that can be far more complex than appears on the outside. The issues are not always apparent or simple. Pick a bankruptcy lawyer who can help you work through the issues, alternatives, and conclusions of your own choices. Pick a lawyer with whom you are comfortable, one whom you can ask questions and get responses you understand. He or she is specialized in bankruptcy or does a large part of his or her practice in the field.

It is also good if you ask questions until you understand what your choices are. And also do not be afraid to interview a lawyer and leave without retaining if you are not satisfied.

Look for a certified specialist or a lawyer with significant experience in bankruptcy. Never associate your self to a generalist, he or she might do a simple bankruptcy, but may not be able to tell the status of your case.

You can also ask for any local bar associations, they have a referral panels of bankruptcy. You can ask them about their experience with cases like yours. If you find it hard trusting them, you can use your yellow pages for other lawyers.

It is better to interview lawyers until you find one who suits you. Ask how many cases like yours he or she handles, and how long he or she has been practicing bankruptcy. And find someone with whom you can communicate well with.

A bankruptcy lawyer will be committed to getting you debt relief and providing you with valuable information, services and advice to get you a better financial future. They may also give you advice on where it is better to file bankruptcy.

On your first visit to your lawyer's office you should bring a list of all the creditors that you owe. This includes debts that you are not behind on like credit cards, medical bills, taxes, cars, houses, and personal loans. The better the information that you give to your lawyer, the better their advice will be. The list of your assets and income is also needed.

Your lawyer can also stop your creditors harassment, immediately once you retain a lawyer to file your bankruptcy they will start taking your creditor calls.

You should also take advantage on your lawyer's expertise. He or she can talk to you about everything in regards to your financial condition. Take note that without all the debt information your right cannot be protected. All too often, information that a client withholds because they think it is troublesome presents no problem, if disclosed. Lying to your lawyer may cause a problem where none existed before.

Read carefully the representation agreement, the draft schedules, the court notices and communications from your lawyer. Ask your lawyer questions what you do not understand at first. Inexact or not whole information can have severe and obnoxious penalties.

Cooperate in providing promptly information and feed back with your bankruptcy lawyer when requested so that court deadlines can be met. Take responsibility for your case. You are the person with the best handle on the facts of the case and the one most affected by the case's outcome. Your lawyer can file a bankruptcy with you, but not for you. He or she may help you, but not all the time. Remember, he or she is a lawyer, lawyers can only help you in regards to legal aspects.

Article Source: http://articles.directorygold.com


Dean Shainin offers online tips and debt advice. For more information, articles, news, tools and valuable resources on bankruptcy and debt solutions, visit this site: Bankruptcy Lawyer