what does my bankruptcy attorney do

One of the most important jobs of the bankruptcy attorney is to put the client’s mind at ease. With a reliable lawyer, your questions are answered, you receive guidance, and you entrust the bankruptcy process to experienced hands. Your lawyer can also help set up credit counseling to help you avoid future financial problems.

Full Answer

What does a bankruptcy lawyer actually do?

If you are owed compensation by a company that has filed for bankruptcy, an attorney will represent you to ensure you get the maximum return on your interests. This means offering their guidance on your ongoing financial setback while also structuring resolutions to help you recover as much payment as you can.

How to find a good bankruptcy lawyer?

Feb 24, 2014 · Almost all bankruptcy attorneys have specialized software that prepares and files your required bankruptcy paperwork with the court. You'll provide your attorney with all of your financial information, such as income, expense, asset, and debt information.

What to ask a bankruptcy attorney?

Your lawyer can also help set up credit counseling to help you avoid future financial problems. Ensure You Get The Most Out Of Bankruptcy Meetings. All bankruptcy proceedings require meetings that you must attend, for example, the creditors meeting. These meetings are conducted by a trustee who is assigned by the court to your case. At the creditors meeting, …

How do you become a bankruptcy lawyer?

A bankruptcy lawyer acts as your guide through the process and is charged with explaining what happens and how it affects you. Bankruptcy is stressful enough without having to worry about what happens when you go to court and what the authorities think about your case.

What can bankruptcy do and not do?

Types of debt that bankruptcy can't eliminate include:Most student loan debt (although some members of Congress are working to change this).Court-ordered alimony.Court-ordered child support.Reaffirmed debt.A federal tax lien for taxes owed to the U.S. government.Government fines or penalties.More items...

Do you lose your house with bankruptcy?

If you kept your house throughout the bankruptcy process, you are free to keep your home after the bankruptcy – as long as you continue to pay the mortgage. It may be that after you are free of all the rest of your debt you will be able to afford the mortgage payments easily. If so, you'll be able to keep your house.May 19, 2021

What will I lose if I file bankruptcy?

Filing Chapter 7 bankruptcy wipes out most types of debt, including credit card debt, medical bills, and personal loans. Your obligation to pay these types of unsecured debt is eliminated when the bankruptcy court grants you a bankruptcy discharge.Dec 12, 2021

What is the downside to filing bankruptcy?

Disadvantages of Bankruptcy: A bankruptcy may impede your chances of getting a mortgage or car loan for some time. Not all debt will be discharged. Examples of debt that cannot be discharged include child support, alimony, some student loans, divorce settlements and some income taxes.

What is the job of a bankruptcy lawyer?

Part of the bankruptcy’s lawyer’s job is to find and organize all the necessary financial records. Many people worry about missing paperwork, but a good attorney can hunt it all down and present it properly.

What is discharge in bankruptcy?

Discharge means that you are legally released from the liability of your debt at the conclusion of the bankruptcy proceedings.

What are the forms for Chapter 7 and Chapter 13?

The forms for Chapter 7 and Chapter 13 are not the same, and there are other forms, called “schedules” that define your property, income and expenses. A form regarding your current financial affairs must also be filled out.

What is sound legal advice?

Sound legal advice is meant to get you through this difficult time as quickly as possible. A good attorney does the work for you and makes sure it is completed correctly and on time.

How to contact Sirody and Associates?

Contact Sirody and Associates at 410-415-0445 for a FREE Consultation and advice from attorneys that specialize in bankruptcy law. Let our attorneys get to work to get you back on your feet.

Assess

A bankruptcy lawyer can examine whether bankruptcy is the right remedy for your particular circumstances.

Avoid

A bankruptcy lawyer helps avoid mistakes, some of them fatal, in completing the bankruptcy papers.

Translate & explain

A bankruptcy lawyer acts as your guide through the process and is charged with explaining what happens and how it affects you.

Complete

After you file the official forms, there’s more to do. If you’ve omitted a creditor or, more importantly, an asset, your bankruptcy lawyer can amend the bankruptcy papers, see that the filing fee is paid, and the proper entities served with the amendments.

Benefits of a Bankruptcy Lawyer

A bankruptcy filing may be routine for an experienced bankruptcy lawyer, but for a debtor or business owner, it is a major event that affects your credit and property.

Complications in the Petition

Most Chapter 7 petitions are simple and routine, unlike a Chapter 13 or an 11. A Chapter 13 is for small business owners or debtors who do not qualify for a Chapter 7 or who may be behind on their mortgages but are able to make current payments while paying off the arranges for up to 60-months.

Dealing with Creditors

You may have to deal with or negotiate with creditors. Your attorney is best suited to this task and has the experience to know how to resolve differences to your satisfaction. You will also have to attend a Creditors Meeting shortly after filing.

Advice

Before you even start any bankruptcy activities, your lawyer will give you good advice on what to do. Many lawyers give a free initial meeting to determine the best option for you. They may even suggest something other than bankruptcy, which may be debt consolidation or a financial advisor.

Take Care Of The Steps

When you and your lawyer begin the bankruptcy process, they’ll help with the steps and long do-to list that might be too difficult to take on your own:

Prepares Paperwork

Bankruptcy forms and paperwork can get pretty lengthy, but your attorney will take care of it with your help. You’ll have to provide info about your job and what you own.

Attends Meetings

There are several meetings and hearings that take place during the bankruptcy process. You’re required to go the first hearing with your creditors, but only your lawyer will need to attend most (if not all) of the meetings after that.

Your Communicator

Maybe most importantly, your lawyer acts as your communication between you and the courts. They’ll be on the phone and in email interactions with trustees, creditors, as well as keeping you up to date on what’s happening with your case.

Get A Free Consultation With A NJ Bankruptcy Lawyer Today

This article should not be taken as legal advice. These are only a few things attorneys handle. If you’re considering bankruptcy or another legal debt relief option, you need to consult an attorney for guidance. If you’re in New Jersey and seeking legal assistance, we can help you.

What to look for in a bankruptcy attorney?

Having second thoughts about whether or not you should employ a bankruptcy lawyer is natural at the beginning of the process, but as time is of the essence, make sure not to take too much time contemplating what needs to be done.

How quickly can an attorney file bankruptcy for me?

Depending on the chosen payment plan and the urgency of the situation, it may take between as little as two hours up to several weeks to prepare and file all required paperwork. Unless it is completely necessary, it is advised not to rush with filing.

What will bankruptcy attorney want to know?

It’s not uncommon to see a debtor coming to the first consultation well prepared, asking questions such as what to expect after bankruptcy discharge, is there a way to keep any unexempt property, or which classes must be taken during the process of filing.

What documents my attorney needs to file bankruptcy in California?

California laws and regulations explicitly demand filing several different forms, whether you are filing for Chapter 7 or Chapter 13 bankruptcy. The list of necessary paperwork is very extensive, and only some of the forms you will be required to submit are :

Whom can you trust with your bankruptcy case?

For some debtors, the financial situation they’re in is stressful enough, yet most of them feel additionally concerned if they are not sure how to find a reliable lawyer for bankruptcy in Chula Vista.

What can bankruptcy do?

What Bankruptcy Can Do. Bankruptcy allows people struggling with debt to wipe out certain obligations and get a fresh start. The two primary bankruptcy types filed— Chapter 7 and Chapter 13 bankruptcy— each offer different benefits and, in some cases, treat debt and property differently, too.

How does Chapter 13 bankruptcy work?

Filing for Chapter 13 bankruptcy will stop a foreclosure and force the lender to accept a plan that will allow you to make up the missed payments over time. To make this plan work, you must demonstrate that you have enough income to pay back payments and remain current on future payments.

What is a lien on a property?

A lien allows the lender to take property, sell it at auction, and apply the proceeds to a loan balance. The lien stays on the property until the debt gets paid. If you have a secured debt —a debt where the creditor has a lien on your property—bankruptcy can eliminate your obligation to pay the debt.

How long does it take to pay back unsecured debt?

If you file for Chapter 13 rather than Chapter 7, you'll likely have to pay back some portion of your unsecured debts through a three- to five-year repayment plan. However, any unsecured debt balance that remains after completing your repayment plan will be discharged.

What happens if you don't bring your account current?

If you can't bring the account current, you'll lose the house or car once the stay lifts. By contrast, Chapter 13 has a mechanism that will allow you to catch up on past payments so you can keep the asset. Find out more about bankruptcy's automatic stay and foreclosure and car repossession and bankruptcy.

How long does it take to get a bankruptcy wiped out?

This chapter takes an average of three to four months to complete. Learn more about erasing your debt in Chapter 7 bankruptcy.

What is an automatic stay?

Once you file, the court puts in place an order called the automatic stay. The stay stops most creditor calls, wage garnishments, and lawsuits, but not all. For instance, creditors can still collect support payments, and criminal cases will continue to proceed forward.