Welcome to Bankruptcy Guide
Bankruptcy Message Board Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
A Bankruptcy Lawyer Restores Faith in the Legal System
from:A bankruptcy lawyer can restore your faith in the legal system, because he or she can prove that the laws are there to help you in your hour of need. Sometimes it is easy to view the legal system as too bogged down with backlogged cases making it inaccessible to the average citizen. But the bankruptcy court is there to legally assist the honest person with debt that has become such a burden that it is virtually non-payable. For this situation, only the law can help.
When you need to hire a bankruptcy attorney, you should look for certain qualities. One of the most important qualities is experience. The bankruptcy attorney is a specialist just like the divorce lawyer or the criminal lawyer. The bankruptcy laws are complicated and only an attorney with experience is going to be familiar with the actual implementation and interpretation of the law. This can be crucial when it comes time to negotiate with the court trustee or the federal judge.
A bankruptcy lawyer should also have experience with all of the chapters as defined by law. When you consult with the attorney initially, you will have to complete a number of forms which detail your financial status. The attorney must interpret the information in relationship to the law and decide the best chapter filing for your particular situation. The only way this can be accomplished efficiently and accurately is if the attorney understands the complex legal definitions and requirements of all the personal and business chapter bankruptcies.
Of course, you also want an attorney who works efficiently and follows through. Everyone has heard of attorneys who take their time filing court papers and are bad at staying in touch with their clients. Filing bankruptcy is stressful enough without having an attorney in which you have little confidence. Instead, you want an attorney who is prompt with court filings and in whom you are able to confide. Admitting you have lost control of your debt can be a very difficult situation, and you need an attorney who understands the emotional side of bankruptcy.
A professional bankruptcy attorney is able to review your situation from many angles. In some cases, you may not need to file bankruptcy. Instead you might be able to actually avoid bankruptcy by lowering your debt and increasing your income in various ways. A good attorney will review all options with you and not just assume you have to file bankruptcy.
A bankruptcy attorney is a legal advisor, listener, confidante and advisor all rolled into one person. You want to hire an attorney with a good reputation. This may sound like a lot to ask of a single lawyer, but you want assurance that your bankruptcy will solve the major financial issues in your life. The only way to get this assurance is by retaining an experienced attorney specializing in bankruptcies.
Bankruptcy Message Board News
Insight: China pays high price to spare state firm from bankruptcy
WEIFANG, China (Reuters) - The Chinese official was adamant the city of Weifang would keep its rayon factory open, noting that local authorities had just stepped in to help the plant's owner repay $60 million in commercial paper. The bailout averted what would have been China's first ever bond default and was good news for domestic bond investors, who were reassured that in China even mid-sized ...
Read more...Obama's Cory Booker problem: allies undercut anti-Bain message
Over the weekend, House Speaker John Boehner colorfully called his Republican caucus “frogs in a wheelbarrow.” But President Obama has his own collection of jumpy amphibians to keep on board.
Read more...Buffett Said to Have Sought ResCap Purchase Before Bankruptcy
Billionaire Warren Buffett sought to purchase Residential Capital from Ally Financial Inc. (ALLY) before the government-controlled company put the home lender in bankruptcy, three people familiar with the matter said.
Read more...Fort Worth medical institute files for bankruptcy
The filing by the Fort Worth school leaves students with little chance of getting refunds.
Read more...Rust Omni Hires Mitch Ryan and Nellwyn Voorhies-Kantak
MINNEAPOLIS, May 8, 2012 /PRNewswire-USNewswire/ -- Rust Omni, the bankruptcy administrative services division of Rust Consulting, Inc., a SourceHOV company, today announced the hirings of Mitch Ryan and Nellwyn Voorhies-Kantak, Esq., as vice presidents of sales and marketing.
Read more...What Bain Capital Left Out Of Its Ampad Defense
ABC News’ Michael Falcone reports: After the Obama campaign unleashed another attack Monday on Mitt Romney’s business dealings at Bain Capital, the private equity firm went on defense. But Bain’s public statement is as notable for what it included as it is for what it left...
Read more...American Airlines May Consider Potential Mergers
AMR Corp. To Develop Possible Consolidation Scenarios American Airlines reports that has agreed with creditors to consider potential merger situations while it reorganizes under bankruptcy protection. Parent company AMR Corp. said the company had agreed to develop consolidation scenarios but that did not indicate it would pursue a deal with any particular party.
Read more...Berkshire tried to buy ResCap, sources say
Billionaire Warren Buffett sought to purchase Residential Capital from Ally Financial Inc. before the government-controlled company put the home lender in bankruptcy, three people familiar with the matter said.
Read more...


