What is a Bankruptcy Lawyer? A bankruptcy lawyer is a lawyer who specializes in dealing with individuals who are facing insolvency. He or she works in conjunction with other professionals to ensure that your best interests are protected.
Why Do Consumers Need a Bankruptcy Lawyer? Consumer bankruptcy lawyers help you get out of creditors when you’re in a bankruptcy filing. They can even help you refinance your company and clear debts at once. Most Chapter 7 bankruptcy attorneys (or Chapter 13 bankruptcy attorney if you file under this method) specialize in dealing with the consumer as well as businesses. This means that you’ll have one lawyer to deal with every different kind of case, including the ones that relate to real estate and personal property.
What is a Bankruptcy Lawyer’s Compensation? Depending on the state where you live, the amount of compensation you receive may vary. Usually, a typical consumer bankruptcy lawyer will be paid between five and eight percent of what they recover.
Why Are Consumers Who File For Bankruptcy More Important? One reason why bankruptcy filing is important is because it makes the process much easier for consumers. Bankruptcy helps people avoid liens and other debts, because they’re legally no longer able to pay them. The IRS, which handles taxes, is also often less inclined to work with people who are in debt. This is because they will have little success in tax evasion with an unemployed person, while they may be able to do so successfully with someone who has assets to use as collateral.
Can a Bankruptcy Lawyer Help You Avoid Foreclosure? In some cases, a consumer bankruptcy lawyer can be a great help in avoiding foreclosure, as he or she will be able to negotiate with lenders on your behalf. If you’re already in default on your mortgage, they can help you sell your house and get back on your financial feet.
Why Should I Hire a Bankruptcy Lawyer? The answer to this question is simple: If you’re thinking about bankruptcy, you need to speak to a bankruptcy lawyer. A bankruptcy lawyer knows the laws in your state, as well as the laws in your country and the laws that apply to your situation.
The more you know about your financial situation and how you got into your current situation, the better equipped you’ll be to navigate through a bankruptcy filing and other issues. In addition, most lawyers will give you references, which are people you can ask for advice on your own if you don’t feel comfortable with your lawyer. The last thing you want is to end up doing something that could put your own assets at risk!
A good bankruptcy lawyer will offer advice based on their knowledge and experience. He or she should be willing to explain everything to you, from your rights and obligations to your options to help you get out of debt.