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Top Ten Reasons to Hire a Bankruptcy Attorney
1. Deciding whether to file at all. A good bankruptcy attorney will help you decide whether you should even be filing bankruptcy. If all of your income and property is exempt from garnishment or execution, bankruptcy may not be your best option. An honest attorney will tell you if that is the case.
2. Deciding what kind of bankruptcy to file. Most individuals will choose between either a Chapter 7 total discharge, or a Chapter 13 repayment plan. Many people believe that if they have significant income, they are required to file under Chapter 13. Some online calculators also cause people to come to this conclusion. However, a skilled bankruptcy attorney can look at various items of income and liabilities and determine whether a person can be "means tested" into a Chapter 7.
3. Pre-filing planning. Whether you file for Chapter 7 or Chapter 13 bankruptcy, the Bankruptcy Trustee will review your statements of financial affairs and determine whether some or all of your property (including money in your bank accounts) should be turned over the bankruptcy estate, and distributed amongst your creditors. A skilled bankruptcy attorney can help you decide if you are permitted to spend certain amounts of money, how to do so lawfully, and how to document how the money was spent.
4. Preventing conduct that will result in denial of discharge. In addition to advising you on what money you may lawfully spend, a good bankruptcy attorney can help you understand what you may not do prior to filing for bankruptcy, such as transferring money or property to friends or family, or incurring new debt in anticipation of filing.
5. Making sure the petitions and schedules are in the proper format. Most bankruptcy attorneys use specialized bankruptcy software that puts the petition in the proper format, makes sure that the required information is filled in, and cross references figures between the schedules. This software also allows for electronic filing, which is preferred by the bankruptcy court. Additionally, the bankruptcy attorney will be able to review the petition and schedules with the client before the documents are filed and catch errors or potential issues.
6. Representation in hearings. Most Chapter 7 debtors will only have one appearance, at the 341 meeting of creditors. This is a meeting convened by the bankruptcy trustee to ask certain questions of the debtor about their filings, and about their assets and liabilities. Creditors may also appear to ask questions. In addition to the meeting of creditors, Chapter 13 debtors are also required to appear in court for a confirmation hearing, in which the Bankruptcy Court Judge considers the recommendation of the bankruptcy trustee, as well as the arguments of the creditors and debtors, and then decides whether to approve the repayment plan. Having a skilled attorney at these meetings and hearings helps people prepare for the hearings, and to pass through them to get their discharge or have their plan approved.
7. Following up after the 341 hearing or confirmation hearing. Sometimes the bankruptcy trustee or Bankruptcy Judge will require supplemental documentation after the 341 hearing or confirmation hearing. A skilled bankruptcy attorney will understand these requests, and will be able to get the supplemental filings done effectively and efficiently.
8. Knowledge of local rules and practices. Although bankruptcy is federal law, and is conducted in all fifty states, each court has its own local rules, procedures and practices. Failure to follow the rules can result in delay or even denial of discharge. Having a lawyer experienced in filing bankruptcies in the particular district that the case is pending is invaluable for debtors who are appearing in court for the first time.
9. Application of other states' laws. Even though bankruptcy is federal law, it incorporates the laws of individual states in determining what exemptions apply to the debtor's property. For example, if you recently moved from another state, application of that state's exemptions may be favorable to you. On the other hand, if your current state's exemptions are more favorable, a good bankruptcy attorney can advise you on whether you should delay filing to take advantage of those exemptions.
10. Representation in adversary actions. A small minority of cases (especially in Chapter 13 bankruptcies) result in an adversary action. This may be due to a dispute about the filings or certain debts listed in the petition and schedules. A good bankruptcy lawyer can talk to you about the likelihood of an adversary action. Some bankruptcy firms do not represent debtors in adversary actions. For those bankruptcy attorneys that do handle adversary actions, a skilled attorney is a significant asset to the debtor.
Baxter & Baxter, LLP
1101 Broadway Street, Suite 213
Vancouver, Washington 98660
(360) 574-5239
Vancouver WA Bankruptcy
Baxter & Baxter, LLP
8835 SW Canyon Lane, Suite 130
Portland, Oregon 97225
(503) 297-9031
Portland Oregon Bankruptcy
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Source: http://www.goinglegal.com/top-ten-reasons-to-hire-a-bankruptcy-attorney-1675191.html
Source: http://www.goinglegal.com/top-ten-reasons-to-hire-a-bankruptcy-attorney-1675191.html