Are Lawyers the goodness they are billing themselves for?
“Lawyers do all kinds of wonderful things. They keep us in the most complicated legal processes of our lives. They meet with our bankruptcy trustee and set up the repayment plan that allows us to gradually pay off all our debts, mostly at reduced interest rates.” “They’ve helped hundreds of people file for bankruptcies, and they’ve saved nearly always the finances of those who have filed for bankruptcy.” “Lawyers can be accomplished advisors; but choosing the wrong one can ruin the whole bankruptcy process.”
By the time you finish reading this article, you’ll know Whether a Bankruptcy Lawyer is needed in your particular situation.
There are different kinds of bankruptcy cases, and different kinds of bankruptcy lawyers.
Chapter 7 Bankruptcy cases are filed by individuals, sole proprietors, corporations, partnerships,, and other business and financial structures. In a Chapter 7 bankruptcy, a court appointed trustee sells off debtor’s assets to pay off creditors. Assets are basically consumer goods-not valuable assets like real estate or a car. The obvious question is, “What type of assets can I and/or my lawyer keep?”
blends of assets may a) protect assets from seizure by creditors, b) protect real estate, furniture, jewelry, and other personal belongings, or c) protect various wants and needs.
There are two basic ways that a Chapter 7 bankruptcy works:
(1) Preparing documents, and(2) representing the debtor.
Chapter 7 Bankruptcy Cases
Expending legal time and resources to file a bankruptcy case is not a decision that most people can make with certainty. Do not expect to get it right every time. There are times when you may do what is “right” rather than what is “inconvenient”, to your own detriment.
Generally, lawyers or parties who prepare legal documents for personal or professional use are legal or legal professionals. They may, and sometimes must, charge fees. Generally, a lawyer may spend a proportionately greater amount of time and resources on a Chapter 7 case than on a Chapter 13 case, due to the complexity and length of a Chapter 7 case.
However, what does “legalizing” mean? In other words, when a lawyer is “legalizing” a Chapter 7 case, he or she is using the forms and documents created by the trustees and creditors (as well as, of course, many other people) as the ” constitution.” The lawyer is updating the documents in stages, form after form, at regular intervals. In so doing, the lawyer is legally extending his/her own time. This is called an ” irregular ” assumption of liability.
If a lawyer is involved in filing a Chapter 7 bankruptcy case for a Does not need a lawyer, then this may be more accurate. The lawyer jacks up a home); land; a vehicle; or the cash in one’s bank account, he or she may be required to “legalize” the benefits and assets that he or she may have to offer as ” god’s property.” While it is obviously a scary step, it may be the only way in which a bankruptcy debtor can keep their property.
There is always an exception, of course. If the lawyer (s) is ” shady ” or if the lawyer has a history of putting the client into wrong or illegal procedures. Lawyer tricks are all too easily and some of the sleazy ones have been caught in the past. Another way is if the lawyer is a bankruptcy “made rich” trust-filing and preparing lawyer will be convenient.
When a Chapter 13 bankruptcy lawyer is on the team, the client can expect the same level of honesty from the lawyer as to the bankruptcy court judge. This is aimed at Judge At ease–and an opportunity for the lawyer to develop a fondness for the client.
Importances of Qualified Bankruptcy Lawyers
(1) If you have a legal question that involves bankruptcy, and are afraid the lawyer won’t be able to answer it fully for fear of his being audited–you need to think again! Bankruptcy laws and procedures are subject to very strict audit guarantees and the lawyer needs to be able to get past the auditor, that’s you.
(2) If you need to find a qualified bankruptcy lawyer, then there are several places to find a competent lawyer.
(3) A Google search of experts ” info about bankrupt lawyers ” should provide lots of links.
(4) A local bar association or the American Bar Association is a great place to get information on qualified or incompetent bankruptcy lawyers.