Before making the decision to file for bankruptcy, it is important to realize that there are four different types of ways that individuals and businesses can file for bankruptcy. Your bankruptcy attorney will be able to help you determine whether you should file for Chapter 7, 11, 12, or 13. Chapters 7 and 13 are personal choices. On the other hand, chapters 11 and 12 are for corporations and those in the agricultural business.
The first step you will need to take in selecting a bankruptcy attorney is to search for attorneys in your area who practice in the appropriate Chapter that you will be filing. There are some attorneys who focus on personal finance, while others simply focus on business. Some companies may do a combination of both. More general firms that practice a wide variety of law are also an option. When it comes to filing on behalf of an individual, many businesses choose to file Chapter 7. Chapter 7 bankruptcy is the least complicated way to file.
When selecting a bankruptcy attorney, it is best to look for someone with experience in the field. You are going to want someone who knows what they are doing and is very knowledgeable when it comes to figuring out your finances. If you choose to go with an individual rather than a firm, it is best to ask if the attorney has a referral source that he can use in case he is not familiar with a particular part of your case. By choosing a firm, all members of the practice can work together if an issue arises. Companies are likely to have people with knowledge in a wide variety of areas; doing all the references internally. Remember, even the smallest mistake can cause your case to be dismissed.
Find out if the person you choose will be available to answer your questions. Find out how long it can take to return calls and what happens if your attorney is not available when a need arises. Is there a backup option? To get on the road to financial freedom, you’ll need someone who’s available.
Before you make your decision, be sure to check references. Most companies will provide you with a list of clients they have worked with in the past. Make a few phone calls to see what others have to say before you make your decision. When you don’t have a good financial situation, asking friends and family for advice may be the last thing you want to do. However, they may be able to provide you with a referral to a bankruptcy attorney.
Finding the person to represent your case is not a decision to be made lightly. When it comes to your finances, experience and professionalism are extremely important.