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. Your bankruptcy attorney can help you determine whether to file for Chapter 7, 11, 12, or 13. Chapters 7 and 13 are personal options. On the other hand, Chapters 11 and 12 are for corporations and those in the agribusiness.
The first step you will need to take in selecting a bankruptcy attorney is to find attorneys in your area who will 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 can do a combination of both. More general firms that practice a wide variety of laws are also an option. When it comes to filing on behalf of an individual, many companies choose to file Chapter 7. Chapter 7 bankruptcy is the least complicated way to file.
When selecting a bankruptcy attorney, it is best to seek 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 fixing 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 or she uses in case they are not familiar with a particular part of your case. When choosing a company, all members of the practice can work together if a problem arises. Companies are likely to have people with knowledge in a wide variety of areas; making all referrals internally. Remember, even the slightest mistake can get your case dismissed.
Find out if the person you choose will be available to answer your questions. Find out how long it may take to return calls and what happens if your attorney is not available when a need arises. Is there a backup option? To hit the road to financial freedom, you will need someone who is available.
Before making a decision, be sure to check the 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 making a decision. When you’re in poor financial condition, asking your 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 from 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.