The last thing that anyone ever wants to go through is to be in deep financial trouble. Whether you’re a corporate entity or a private individual, this is something that isn’t impossible. When the financial obligations pile up, you may be left with little money or nothing at all. This is when it’s time to file for bankruptcy. 

As unpleasant as this situation may be, there are positive recourses that can be undertaken to help solve your problem. Of the many, one of the best is always through the help of a bankruptcy lawyer. 

How do you choose the right bankruptcy attorney? By asking these questions: 

1. What Fees Do I Need To Pay?

When you’re already in deep financial trouble, to begin with, the last thing on your mind is the need for you to pay more fees. Thus, one of the very first questions that you’re going to ask an attorney near you, therefore, will have to do with the necessary fees to be paid. This is important so that you can assess if whether or not the attorney is financially right for you.

Take note that there are filing fees, usually around 300 US dollars, that are necessary for you to file bankruptcy in court. The attorney will also most likely charge you with a fee for handling your case.

The more complicated your case is, the higher the fees are going to be. Hence, the need to iron these out early on.

2. How Long Have You Been A Bankruptcy Lawyer?

Along that line, it’s also essential for you to ask the level of expertise of your bankruptcy lawyer. When you’re already in a lot of stress, you’ll need the highest assurance that you’re in good hands. 

You want the lawyer to be good enough, such that they’re also aware of the latest developments in bankruptcy law. The more experience the lawyer has, the higher the chance for you to have a better and more positive result of your case.

3. What’s Your Track Record?

When you ask about the experience of the lawyer, also ask about their track record. The lawyer may be working already for five years, but unfortunately, has failed in more than half of their bankruptcy cases. That may not sound so favorable for you. 

As you describe your case to the lawyer, don’t forget to ask if they’ve handled cases similar to yours. If they have, further interrogate about their success rate.

If you’re skeptical about whether or not the particular lawyer can help you have a favorable determination of your claim for bankruptcy, it might be worth seeking the advice of another lawyer instead.

4. When Will My Case Be Over?

When you’re in financial distress, you’ll also want to know when all of it is going to be over. Most lawyers, no matter how good they are, can’t give you a hundred percent assurance of an exact timeline. But, they can provide you a close-to-exact estimate as to how long your bankruptcy case is going to last.

Along that line, they should be able to accurately describe and layout all the processes from step one until the very end. That way, you have a better idea as to what you can and should expect.

5. What Problems Should I Prepare For?

Lawyers will always endeavor to make the whole process as smooth as possible for their clients. But, problems can inevitably arise. An experienced lawyer can foresee these potential problems. 

If it helps to give you more peace of mind and a heightened sense of readiness, it’s worth asking what issues should be expected in the process, too. An experienced lawyer will be able to have some understanding of how things might play out in court.

6. What Type Of Bankruptcy Should I File?

If you’re reading from the USA, then this section applies to you. If you aren’t, you might also want to ask your local bankruptcy lawyer for the equivalent of this section. 

When you file for bankruptcy, under the US Federal Laws, you can choose to file between two types. But, this choice is not up to you. It’s highly dependent on your personal and financial circumstances, such as liability concerns for corporations. 

Here’s a brief breakdown:

• Filing for bankruptcy under Chapter 7. This option is usually given to those with incomes that are generally below a certain level. Here, you’ll have to surrender much of your property. 

After filing, you’re released from your debts, excluding student loans and taxes.

• Filing for bankruptcy under Chapter 13. This option allows you to keep your property. However, you’ll be offered a payment plan to pay off your debts.

Conclusion

Filing for bankruptcy is always going to be a stressful and worrisome moment. But, with the help of bankruptcy lawyers, your financial trouble can be eased out. 

To make sure that you’re really in good hands, the key is to ensure that you’re putting your deep problems in the hands of qualified lawyers. On an even more positive note, working with the right bankruptcy lawyer can be the very first step towards getting back on your feet again.