what is a bankruptcy attorney

A bankruptcy lawyer specializes in giving legal advice to a client about bankruptcy, prepares legal documents for the client and represents the client in court. An attorney must hold a law degree and be licensed in the state where they do business. As your guide through the bankruptcy process, a lawyer can advise you about matters such as:

Full Answer

What does a bankruptcy lawyer actually do?

Feb 24, 2022 · A bankruptcy lawyer specializes in giving legal advice to a client about bankruptcy, prepares legal documents for the client and represents the client in court. An attorney must hold a law degree...

How to find a good bankruptcy lawyer?

An experienced bankruptcy attorney can guide you through the dizzying maze of decisions, paperwork and procedure that marks a bankruptcy filing, whether it is a chapter 7 or chapter 13. At the outset, a bankruptcy attorney is there to counsel you on the bankruptcy process and whether it is right for you. They serve to help you take a critical look at your debts and assets …

What does a bankruptcy lawyer do for You?

A bankruptcy filer who has hired a bankruptcy lawyer can expect competence, sound legal advice, bankruptcy paperwork preparation, and representation at bankruptcy hearings.

What is the salary of a bankruptcy attorney?

Feb 23, 2022 · A bankruptcy attorney is a valuable asset when you’re dealing with debt. From stopping illegal debt collection tactics to representing you in court, an attorney is your most-trusted resource throughout the process. Unfortunately, not all bankruptcy attorneys are equal.

What do bankruptcy firms do?

When a business files for bankruptcy, it typically files for Chapter 11 protection that allows it to keep the doors open and do business while attempting to negotiate its financial obligations and restructure its debt. A reorganization plan is filed by the debtor that might include trimming of personnel and expenses.Mar 30, 2021

How much does a lawyer charge for Chapter 7?

Average Chapter 7 Bankruptcy Attorney Fees At the end of the process, your remaining unsecured debt is “discharged,” which means it's forgiven. When you file under Chapter 7, you'll generally have to pay up-front. Nationwide, the average attorney fee for a Chapter 7 case is $1,250.Oct 29, 2021

What is the means test for Chapter 7?

The bankruptcy means test determines whether you're eligible for Chapter 7 bankruptcy. The bankruptcy means test determines who can file for debt erasure through Chapter 7 bankruptcy. It takes into account your income, expenses and family size to determine whether you have enough disposable income to repay your debts.

What is the difference between Chapter 7 11 and 13?

Chapter 11 bankruptcy is a business reorganization plan, often used by large businesses to help them stay active while repaying creditors. ... Chapter 13 bankruptcy eliminates qualified debt through a repayment plan over a three- or five-year period.Jun 2, 2021

How to file for bankruptcy?

First, you can expect your attorney to tell you whether filing for bankruptcy would be in your best interest. If it is, you should also learn: 1 whether Chapter 7, Chapter 13, or another type will help you achieve your financial goals 2 what you can expect during the bankruptcy process, and 3 whether your case involves any particular difficulties or risks.

What to expect during bankruptcy?

Most importantly, if you have any questions, you can expect your attorney to respond to your calls or emails promptly.

Is bankruptcy easy to handle?

Expect Competence From Your Bankruptcy Lawyer. Not all bankruptcy cases are complicated, but they aren't all easy, either. Either way, your bankruptcy lawyer should have the skill level necessary to handle your case. In general, the difficulty of your bankruptcy will depend on: the involvement of bankruptcy litigation.

What is the mandatory hearing for bankruptcy?

After filing for bankruptcy, all debtors must attend a mandatory hearing called the 341 meeting of creditors. But, depending on your case, you (or your attorney) might need to go to additional hearings. Some common types of hearings you can expect your attorney to represent you at: Chapter 13 confirmation hearings.

What is a retainer agreement?

In general, your retainer agreement (the contract you and your attorney sign) will outline the services your bankruptcy attorney will provide . Your attorney's job is also to provide you with competent advice throughout the bankruptcy process.

Can an attorney text you?

Attorneys have the option, but are not required, to send text messages to you. You will receive up to 2 messages per week from Martindale-Nolo. Frequency from attorney may vary. Message and data rates may apply. Your number will be held in accordance with our Privacy Policy.

What do bankruptcy attorneys do?

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.

How does Chapter 13 bankruptcy work?

Chapter 13 bankruptcy can be used to save a home by stopping foreclosure and allowing a debtor time to repay missed payments over time, however you must make current monthly mortgage payments when due on time. This type of bankruptcy can also be used for secured, debts like car loans allowing rescheduling of secured debts over a 3 to 5 year period. Another advantage in certain circumstances a chapter 13 can force unsecured creditors to receive only a portion of their claim.

Is bankruptcy an easy decision?

Making a choice to file bankruptcy is not always an easy decision. If you’re financial situation has changed and you find yourself struggling unable to fulfill your current debt obligations then a Chapter 7 bankruptcy may be a viable solution to remedy your current financial dilemma.

What is bankruptcy in the US?

Bankruptcy is a legally declared inability, or the impairment of ability, of an individual or organization to pay their creditors. Creditors may file a bankruptcy petition against a debtor (“involuntary bankruptcy”) in an effort to recoup a portion of what they are owed or initiate a restructuring.

Who is Wade Boyette?

As a bankruptcy attorney in Clermont, Wade Boyette has been integral in helping many get free from debt and the burden of harassing phone calls. He has helped clients retain valuable assets, keep their property, and preserve their lifelong labors intact. One call to our firm and the uncertainty of what to do next will be addressed. You do have options, and Mr. Boyette and the legal team at BCN are here to help you determine your best course of action.

Did Walt Disney declare bankruptcy?

The great Walt Disney declared bankruptcy before he created Disney World in Orlando, Florida. If not for the protective laws, this entertainment giant would not have been able to achieve his dreams. As a matter of fact, look at this list of 30 Entrepreneurs who declared bankruptcy.

Can you file bankruptcy under Chapter 7?

This type of involuntary bankruptcy can only be filed under Chapters 7 or 11. However, in most instances you are able to choose under which chapter to file. The individual filing may also choose to convert to another chapter from a 7 or 11 when forced into an involuntary bankruptcy.

FILING CHAPTER 7 PERSONAL BANKRUPTCY IN FLORIDA

Chapter 7 Bankruptcy offers individuals a solution to their growing, unmanageable debts. While filing for Chapter 7 Bankruptcy in Florida is not the best option for everyone, there are thousands of people who have found a new financial life and a “Fresh Start” with the help of Florida Chapter 7 Bankruptcy Attorney, Randall Hiepe.

FILING CHAPTER 7 BUSINESS BANKRUPTCY IN FLORIDA

Individuals with personal debts are not the only ones who can file a Chapter 7 bankruptcy case.

DID YOU KNOW

While filing Chapter 7 bankruptcy will result in the discharge of most, if not all, of your debts, there are some types of debt that cannot currently be discharged — student loans, for example. Additionally, you, as the debtor, are required to abide by the Bankruptcy Code and the Bankruptcy Rules of Court for a Chapter 7 discharge to be granted.

Bankruptcy Only In Some Situations

Many people think they can file for bankruptcy to avoid paying their college loans. But this is often not the case. Federal law states that student loans may not be discharged in bankruptcy.

The Brunner Test and Undue Hardship

Judges typically use what is called the Brunner test to determine if you are under undue hardship. The Brunner test requires a determination that:

Contact An Attorney Today

Are you considering bankruptcy in Florida? Do you have student loans? This could be a stressful and confusing time for you, and we are ready to help you to decide what to do. Call our office at (813) 990-7944 to speak to a bankruptcy lawyer in Tampa.