When Facing Bankruptcy, Hire a Lawyer

Bankruptcies are a growing concern for many homeowners and businessmen in our lagging economy. Many people are losing homes and livelihoods and finding themselves on the verge of being nearly penniless. People who are facing a bankruptcy and the onslaught of court appearances and paperwork that bankruptcies inevitably create need to be represented by a good bankruptcy attorney.

There are several reasons anyone facing a bankruptcy should hire a lawyer. A lawyer may seem to be one more expense that can’t be afforded but solid legal representation can save petitioners a lot more money than it costs.

An attorney will first of all represent his client throughout the bankruptcy proceedings. The filing of paperwork, documenting bills and assets, appearing in court and fulfilling the legal requirements are all taken care of by an expert. Following a lawyer’s advice in these matters is definitely the right thing to do.

An important job of the attorney is to negotiate with creditors and their lawyers. He knows the law and its limitations and will discuss terms and conditions for the payment of debts on his client’s behalf. Without an attorney anyone facing the trauma of civil court action is in an intimidating situation and at a tremendous disadvantage.

Legal representation takes responsibility for many forms of protection in a bankruptcy. A lawyer is a buffer between his client and the debt holder who is demanding payment. Prior to the bankruptcy the client undoubtedly fielded many debt collection calls and was subjected to many threats of varying severity. Once the court action is filed and an attorney is on the job the debt collectors will have to deal with him rather than calling the client. A good lawyer makes sure that the creditors contact him instead of the person he represents.

Another form of protection assumed by a bankruptcy petitioner’s legal representative is the accounting of assets owned by the petitioner. The law prohibits certain pieces of property from being seized by creditors and the attorney’s responsibility is to ensure that his client’s rights are protected. Without legal representation some creditors run roughshod over those who owe them money and take action such as seizing property that far exceeds what they are legally allowed to do.

Negotiating the best possible outcome for his client is the attorney’s goal. Without his help a person in court will probably be taken advantage of and end up paying far more to his creditors than necessary. Anyone facing bankruptcy needs to hire a good bankruptcy lawyer.