Bankruptcy is a sign of the times. The economic downturn has put many people who never dreamed they’d be in the position of needing protection against foreclosure and other financial seizures right into bankruptcy court. Most of those filing for bankruptcy protection have little or no idea of what to do or how to legally defend themselves.
Here is a look at when someone filing for bankruptcy protection needs the services of an excellent bankruptcy attorney.
The initial filing in bankruptcy court requires an attorney to file it correctly. This is no easy task and an attorney will ensure that the paperwork will be filed in the correct place and at the correct time. Words that are used daily in legal proceedings often have specific legal meanings that aren’t the same as when these words are used in everyday speaking. Attorneys are trained to use the appropriate legal language. Failing to file appropriately completed forms will delay the process and create legal risks.
An attorney should be retained when there are assets to be protected. Every state allows certain personal property to be kept by those who are filing bankruptcy and an attorney knows how to maximize this legal protection.
When creditors are involved a petitioner needs legal counsel. Not only are some of the petitioner’s personal assets protected but there are limitations on recovery by creditors. Those without legal representation in bankruptcy proceedings will not be able to effectively defend themselves against claims that are unjust or illegal. An attorney will fight for the client, provide the needed legal counsel and ensure that his client’s interests are adequately taken into consideration.
Legal research is needed and best accomplished by a good bankruptcy attorney. An attorney has knowledge of case law and legal precedents that affect his client’s case.
Negotiations with creditors and their attorneys is another time that people who are filing for bankruptcy should secure an attorney. The attorney can demonstrate the strength of his client’s case, understands what legal arrangements can be made, and is in the unique position of knowing how far he can go in defending his client.
That people filing for bankruptcy should be represented in courtroom proceedings is a given. Attorneys are able to navigate the confusing waters of the legal system and meet the legal requirements involved in appearances, make and counter legal motions, and file subsequent paperwork. Attorneys speak the language of the court.
It’s safe to conclude that anyone filing for bankruptcy protection needs an attorney.