Before consulting a bankruptcy attorney, it’ll be helpful to know that there are four major types of bankruptcy: Chapters 7, 11 , 12, 13. Only two are personal bankruptcy options, chapters 7 and 13. The remaining two bankruptcy forms, chapters 11 and 12, respectively for corporate and agricultural purposes.
The first step you want to take in hiring a bankruptcy solicitor is figuring out your attorney’s practices. Some lawyers practice in bankruptcy-related matters. Other lawyers have more general practice where they can cover several practice areas, one of many being bankruptcy.You may want to check out Chicago Bankruptcy Lawyer for more.
Many attorneys may have regular practice, but they choose to seek bankruptcy due to recent economic changes. If that’s the case, and the attorney is a solitary practitioner, you’ll want to make sure you ask if the attorney has a reference source where he or she can get help about things he or she may not know. The practice of bankruptcy law is extremely complex, and the slightest mistake can be the difference between whether the debtor receives a discharge or a dismissed case.
The next thing a potential debtor wants to know is what kind of bankruptcy law attorney practices. Again, some lawyers focus specifically on Chapter 7 bankruptcy work. Those lawyers that prefer to concentrate on chapter 7 work because it is less complicated than chapter 13 work. Generally, Chapter 7 debtors will not have substantial assets and are less tenuous than Chapter 13. This doesn’t mean that there are bankruptcy lawyers focusing on Chapter 7 bankruptcy law, who take chapter 13 cases.
Another valuable piece of information a potential bankruptcy debtor wants to discover is whether the attorney will appear at the creditors meeting with the debtor. If the paper work is finished and papers are submitted with the Bankruptcy Court, the Missouri Western District Bankruptcy Court must hold what is considered a 341 workshop.
This meeting is also called the “First Meeting of Creditors.” It will be the debtor’s first opportunity to meet with the bankruptcy trustee and confront any creditors who may want to prevent bankruptcy. The solicitor will not be confidential to those opposing the debtor’s discharge until the creditors’ conference.
If the debtor ‘s attorney can not appear at creditors’ meeting, a replacement attorney must be selected. The debtor without an attorney is generally not a good idea because the trustee may want to send certain documents to the trustee ‘s office within a short time, or the trustee may have more specific questions that the debtor may not be able to answer.
If this happened, the debtor would need an attorney with a copy of the bankruptcy petition. Generally, unless a debtor tries to have a collateral conference without an advisor, the debtor does not provide all the facts to properly fulfill the trustee’s inquiries.
The next thing a prospective applicant needs to learn while seeking abruptcy solicitor is what’s included in the bill. This can varies from lawyer to lawyer. The attorney fee will generally be a flat fee including the filing fee for bankruptcy petitions. Actually, it’s $300. However, the list of duties can differ. Some attorneys will cover the fee paid from start to finish.