Law

What to Expect from Your Bankruptcy Lawyer

Filing for bankruptcy comes as a big relief for those drowning under the mountainous pressure of debts. They have a peace of mind that they will no longer be hounded by the lenders as they have fallen behind on payment. If you have decided to take the step, it’s important to understand the process of filing bankruptcy forms and it is no less than daunting.

That’s why a Toledo bankruptcy lawyer comes to play a crucial role as your friend, philosopher, and guide. A lawyer not only helps you with valuable legal advice but also handles all types of paperwork throughout the bankruptcy process. Followings are the most common types of services to be expected from your bankruptcy lawyer:

Expect Skill from Your Bankruptcy Attorney

Each bankruptcy case is unique and most involve complications on a different level. Whatever the level of complication is, a bankruptcy lawyer has the competence necessary to deal with such cases aptly.

Whether your bankruptcy case is complicated or not depends on the following factors:

  • The substance of your case
  • If you file for Chapter 13 or Chapter 7 bankruptcy
  • If the bankruptcy trustee will put any of your property on sale (asset or “no asset” bankruptcy cases)
  • If you run a small business
  • Involvement of bankruptcy litigation

The best way to figure out if a lawyer will be up to your task and expectations is to ask the professional if he or she has represented the clients who were in similar situations.

Expect Solid Legal Advice from Your Bankruptcy Attorney

Once you decide to hire a lawyer, you both sign an agreement that is called a retainer agreement. It highlights the kinds of service your bankruptcy lawyer will provide. It is your lawyer’s responsibility to help you with sound advice from start to finish of the bankruptcy process.

Your lawyer will inform you if filing for bankruptcy would be the best solution in your case. If yes, you should understand:

  • Whether to file for Chapter 7 bankruptcy, Chapter 11 bankruptcy, or another type that will cater to your financial goals
  • What to expect during the bankruptcy process
  • If your bankruptcy case involves any particular risk or difficulties

If you have queries about bankruptcy, ask your lawyer in a face-to-face meeting, via emails or over the phone and expect him or her to respond quickly.

Expect Your Lawyer to Ready & File Your Paperwork

For bankruptcy filing, you need to complete a long procedure of paperwork. Nearly every bankruptcy attorney uses specialized software programmed for preparing and filing necessary bankruptcy forms with the court.

The bankruptcy lawyer, who is representing you, will use your information to prepare the official documents and discuss the completed forms with you to make sure everything is accurate. You are also required to submit all your financial details including income, expenditure, asset, and other information to the court or the trustee.

Expect your bankruptcy lawyer to prepare everything as quickly as possible; otherwise, you will miss the deadline that may cause:

  • Delayed process
  • Case dismissal
  • Over negative consequences

That is why your bankruptcy lawyer should have in-depth knowledge about bankruptcy rules and filing procedures.