If you are like many men and women in the 21st century, you may have found yourself literally drowning in debt. As a result, you may have made the touch decision to file for bankruptcy. In this regard, you may be wondering what steps that you need to take to determine how to find and choose a bankruptcy attorney. Indeed, there are some specific steps you need to take in order to determine how to find and choose an appropriate attorney.
1. The first step in how to find and choose a bankruptcy attorney is to contact the local bar association in your community. While your local bar association will not make any specific recommendations about a particular lawyer, your local bar association will provide you with a list of lawyers in your community that specialize specifically in the practice of bankruptcy law. Because bankruptcy is such a specialized area of the law, it is vital that you obtain a lawyer that is specifically trained and experienced in the practice of bankruptcy law. Additionally, there are lawyers that specialize in consumer bankruptcy law and commercial or business bankruptcy law. Depending on what type of bankruptcy case you will be filing -- consumer or personal, commercial or business -- will depend on what type of lawyer you actually will want to retain. (There are also lawyers who specialize in agricultural bankruptcies. Agriculture bankruptcies are also specialized and require the assistance of specifically trained attorneys.)
2. The second step in how to find a bankruptcy attorney is to listen to what your friends, family members and colleagues have to say about one attorney or another. In this high-tech age, many people overlook the benefits of word of mouth. In the final analysis, some of the best information that you can obtain about a lawyer even in this age of high-tech communications is through word of mouth. Chances are very good that you know a friend, family member or colleague who has had to go through a bankruptcy. Find out what that person or those persons have to say about the lawyer or lawyers that they have used for their own bankruptcy cases.
3. The third step in how to find a bankruptcy attorney involves doing an Internet search about the specific lawyers that you have on your list of potential attorneys to assist you in your own bankruptcy case. Oftentimes on the Net, you will be able to find newspaper articles, bar association notices and other information about lawyers. By reviewing this information, you will be able to develop a clearer picture about the business and background of particular bankruptcy lawyers that you are considering employing.
4. As you continue to narrow down your list of attorneys, you will reach the step at which you will want to arrange face to face meetings with a few of the “finalists” on your list of potential lawyers. In so many ways, there is nothing more important than meeting with a lawyer face to face before you engage that attorney. You can sum up a lawyer easier when you are able to see and hear them in person.
5. The final step in how to find and choose a bankruptcy attorney involves making the decision to go with a particular lawyer. At this juncture, you will want your new lawyer to provide you with a specific contract that lays out what your lawyer will do for you, what services he or she will provide. In addition, you will want to make certain that the lawyer specifically lays out what he or she will be charging you in the way of fees and how those fees will be paid by you. (In most instances, the fees that are assessed to you by your lawyer must be approved by the bankruptcy court. Therefore, in many instances, you will not pay attorney fees relating to a bankruptcy case up front.)
By following these steps to how to find and choose a bankruptcy attorney, you will be in the best possible position to choose and select a bankruptcy lawyer that will best meet your particular needs. As a result, you will have the best possible chance to truly bring order to your chaotic financial house both in the short and the long term.
http://www.bestnichearticles.com/Article/Five-Steps-on-How-to-Find-and-Choose-A-Bankruptcy-Attorney/6962
Monday, July 16, 2007
Seven Steps on How to File for Bankruptcy
In the 21st century, many men and women find themselves struggling to keep their heads above water financially. With ever mounting debt, these people oftentimes need to seek relief by filing for bankruptcy. Perhaps you are such a person who is fighting to make ends meet. As a result, you may be wondering how to file for bankruptcy.
The first step in learning how to file for bankruptcy is to make a comprehensive list of all of your creditors and outstanding debts. When you are working to determine how to file for bankruptcy, you need to appreciate that if you to proceed with a bankruptcy case, you must be sure that all of your debts are disclosed and listed in a bankruptcy petition.
The next step in filing for bankruptcy is to determine exactly what assets you have available to you. Your assets include your recurring income from your job, your home and major items of personal property that you might own (including such items as motor vehicles).
The third step you need to undertake when it comes to seeking bankruptcy relief is to contact all three major credit bureaus. When all is said and done, the three major credit bureaus may have the best record of all of your outstanding debt. By obtaining your credit reports from the three major credit bureaus, you will be able to cross reference your list of debt to make certain that you have all accounts covered and listed.
The forth factor that needs to be considered on the road to filing for bankruptcy, is to determine whether you will seek professional assistance in the pursuit of a bankruptcy case. Some people do elect to file for bankruptcy on their own without the aid and assistance of a lawyer. However, in most instances, it probably is in your best interest to seek the professional assistance of a lawyer in order to properly pursue a bankruptcy case. Therefore, unless you have a very simple bankruptcy on the horizon and unless you actually have some definite, practical legal experience, you should seek out the assistance of a lawyer to aid you in pursuing your case.
In working towards fully understanding how to file for bankruptcy, if you do make the decision to hire a lawyer, you will need to begin an organized search to find the best attorney to meet your needs. Keep in mind that in this day and age there are lawyers that specialize specifically in the area of consumer bankruptcies. As a result, you most likely will want to narrow your search to those specific attorneys who do have experience in dealing with bankruptcy cases. In the long run, you will be best served by engaging the services of a lawyer who has dedicated his or her career to bankruptcy law.
Once you narrow down the list of attorneys you are considering, the next phase in considering bankruptcy is to obtain references in regard to each of these attorneys’ prior performance. References will provide you with specific information on how a particular lawyer handles his or her business and on how successful he or she has been in the pursuit of prior bankruptcy cases. Your local bar association can provide you with the names of lawyers that specialize in the practice of bankruptcy law.
The final step in considering bankruptcy is to actually engage the services of an attorney. At this juncture, you attorney will prepare a bankruptcy petition on your behalf that will be filed in the bankruptcy court. With the filing, your creditors will have to suspend seeking debt collection from you during the period in which the bankruptcy case is pending.
By following the steps outlined in this article, you will be able to take serious action in order to get your financial house in order. Of course, bankruptcy really is an option of last resort when it comes to dealing with impossible debt. Therefore, you need to make sure you have exhausted any alternative options before you actually begin the course of pursuing a bankruptcy case.
http://www.bestnichearticles.com/Article/Seven-Steps-on-How-to-File-for-Bankruptcy/6462
The first step in learning how to file for bankruptcy is to make a comprehensive list of all of your creditors and outstanding debts. When you are working to determine how to file for bankruptcy, you need to appreciate that if you to proceed with a bankruptcy case, you must be sure that all of your debts are disclosed and listed in a bankruptcy petition.
The next step in filing for bankruptcy is to determine exactly what assets you have available to you. Your assets include your recurring income from your job, your home and major items of personal property that you might own (including such items as motor vehicles).
The third step you need to undertake when it comes to seeking bankruptcy relief is to contact all three major credit bureaus. When all is said and done, the three major credit bureaus may have the best record of all of your outstanding debt. By obtaining your credit reports from the three major credit bureaus, you will be able to cross reference your list of debt to make certain that you have all accounts covered and listed.
The forth factor that needs to be considered on the road to filing for bankruptcy, is to determine whether you will seek professional assistance in the pursuit of a bankruptcy case. Some people do elect to file for bankruptcy on their own without the aid and assistance of a lawyer. However, in most instances, it probably is in your best interest to seek the professional assistance of a lawyer in order to properly pursue a bankruptcy case. Therefore, unless you have a very simple bankruptcy on the horizon and unless you actually have some definite, practical legal experience, you should seek out the assistance of a lawyer to aid you in pursuing your case.
In working towards fully understanding how to file for bankruptcy, if you do make the decision to hire a lawyer, you will need to begin an organized search to find the best attorney to meet your needs. Keep in mind that in this day and age there are lawyers that specialize specifically in the area of consumer bankruptcies. As a result, you most likely will want to narrow your search to those specific attorneys who do have experience in dealing with bankruptcy cases. In the long run, you will be best served by engaging the services of a lawyer who has dedicated his or her career to bankruptcy law.
Once you narrow down the list of attorneys you are considering, the next phase in considering bankruptcy is to obtain references in regard to each of these attorneys’ prior performance. References will provide you with specific information on how a particular lawyer handles his or her business and on how successful he or she has been in the pursuit of prior bankruptcy cases. Your local bar association can provide you with the names of lawyers that specialize in the practice of bankruptcy law.
The final step in considering bankruptcy is to actually engage the services of an attorney. At this juncture, you attorney will prepare a bankruptcy petition on your behalf that will be filed in the bankruptcy court. With the filing, your creditors will have to suspend seeking debt collection from you during the period in which the bankruptcy case is pending.
By following the steps outlined in this article, you will be able to take serious action in order to get your financial house in order. Of course, bankruptcy really is an option of last resort when it comes to dealing with impossible debt. Therefore, you need to make sure you have exhausted any alternative options before you actually begin the course of pursuing a bankruptcy case.
http://www.bestnichearticles.com/Article/Seven-Steps-on-How-to-File-for-Bankruptcy/6462
What to Consider when Filing for Personal Bankruptcy
President Bush in April signed into law The Bankruptcy Abuse and Consumer Protection Act. This bill promises many changes to law, and will make it more difficult for the average person in financial trouble to have debts removed with bankruptcy. Recent social and economic changes indicate that those considering a bankruptcy should do so now, as the queue is getting longer.
It will be now be harder to file under Chapter 7 of the code, which allows the courts to wave consumer debt and give the debtor a new start. Filings posted will be tested and those who have a decent income it seems will have to file under a more strenuous Chapter 13, which demands repayment by installments and the assistance of a lawyer. Now looming, bankruptcy filings are not only higher than they were previously, but are also higher than expected. Acros the country, filings are substantially higher than last year, and some bankruptcy practitioners say that their business has increased dramatically.
To make it more confusing is another law, that requires credit card companies to establish a payment schedule that permits consumers to repay debts in amended installments. Since early year, most credit card providers have doubled their minimum payments. An average person with say $12,000 in credit card debt, will have approximate monthly payment increases from between $150 to $450, an increase most people can ill afford.
This increase in bankruptcy filings has overwhelmed bankruptcy lawyers, who face a burden of being liable for false information filed by clients once the new law takes effect. Certainly an unwelcome change. This additional liability, together with the additional tasks, has prompted many lawyers to raise fees subsstantally over the same time as last year.
What does this mean for bad debt? From here on, bankruptcy filings will be more confusing, complicated and costly. The system is already overloaded with bankruptcy cases. If you suspect you're in the bankruptcy category, you should move on it now. Waiting even another day could be too late.
http://www.bestnichearticles.com/Article/What-to-Consider-when-Filing-for-Personal-Bankruptcy/2683
It will be now be harder to file under Chapter 7 of the code, which allows the courts to wave consumer debt and give the debtor a new start. Filings posted will be tested and those who have a decent income it seems will have to file under a more strenuous Chapter 13, which demands repayment by installments and the assistance of a lawyer. Now looming, bankruptcy filings are not only higher than they were previously, but are also higher than expected. Acros the country, filings are substantially higher than last year, and some bankruptcy practitioners say that their business has increased dramatically.
To make it more confusing is another law, that requires credit card companies to establish a payment schedule that permits consumers to repay debts in amended installments. Since early year, most credit card providers have doubled their minimum payments. An average person with say $12,000 in credit card debt, will have approximate monthly payment increases from between $150 to $450, an increase most people can ill afford.
This increase in bankruptcy filings has overwhelmed bankruptcy lawyers, who face a burden of being liable for false information filed by clients once the new law takes effect. Certainly an unwelcome change. This additional liability, together with the additional tasks, has prompted many lawyers to raise fees subsstantally over the same time as last year.
What does this mean for bad debt? From here on, bankruptcy filings will be more confusing, complicated and costly. The system is already overloaded with bankruptcy cases. If you suspect you're in the bankruptcy category, you should move on it now. Waiting even another day could be too late.
http://www.bestnichearticles.com/Article/What-to-Consider-when-Filing-for-Personal-Bankruptcy/2683
Looking For An Effective Bankruptcy Lawyer
Bankruptcy is a specialized area of law that can be far more complex than appears on the outside. The issues are not always apparent or simple. Pick a bankruptcy lawyer who can help you work through the issues, alternatives, and conclusions of your own choices. Pick a lawyer with whom you are comfortable, one whom you can ask questions and get responses you understand. He or she is specialized in bankruptcy or does a large part of his or her practice in the field.
It is also good if you ask questions until you understand what your choices are. And also do not be afraid to interview a lawyer and leave without retaining if you are not satisfied.
Look for a certified specialist or a lawyer with significant experience in bankruptcy. Never associate your self to a generalist, he or she might do a simple bankruptcy, but may not be able to tell the status of your case.
You can also ask for any local bar associations, they have a referral panels of bankruptcy. You can ask them about their experience with cases like yours. If you find it hard trusting them, you can use your yellow pages for other lawyers.
It is better to interview lawyers until you find one who suits you. Ask how many cases like yours he or she handles, and how long he or she has been practicing bankruptcy. And find someone with whom you can communicate well with.
A bankruptcy lawyer will be committed to getting you debt relief and providing you with valuable information, services and advice to get you a better financial future. They may also give you advice on where it is better to file bankruptcy.
On your first visit to your lawyer's office you should bring a list of all the creditors that you owe. This includes debts that you are not behind on like credit cards, medical bills, taxes, cars, houses, and personal loans. The better the information that you give to your lawyer, the better their advice will be. The list of your assets and income is also needed.
Your lawyer can also stop your creditors harassment, immediately once you retain a lawyer to file your bankruptcy they will start taking your creditor calls.
You should also take advantage on your lawyer's expertise. He or she can talk to you about everything in regards to your financial condition. Take note that without all the debt information your right cannot be protected. All too often, information that a client withholds because they think it is troublesome presents no problem, if disclosed. Lying to your lawyer may cause a problem where none existed before.
Read carefully the representation agreement, the draft schedules, the court notices and communications from your lawyer. Ask your lawyer questions what you do not understand at first. Inexact or not whole information can have severe and obnoxious penalties.
Cooperate in providing promptly information and feed back with your bankruptcy lawyer when requested so that court deadlines can be met. Take responsibility for your case. You are the person with the best handle on the facts of the case and the one most affected by the case's outcome. Your lawyer can file a bankruptcy with you, but not for you. He or she may help you, but not all the time. Remember, he or she is a lawyer, lawyers can only help you in regards to legal aspects.
http://www.bestnichearticles.com/Article/Looking-For-An-Effective-Bankruptcy-Lawyer/974
It is also good if you ask questions until you understand what your choices are. And also do not be afraid to interview a lawyer and leave without retaining if you are not satisfied.
Look for a certified specialist or a lawyer with significant experience in bankruptcy. Never associate your self to a generalist, he or she might do a simple bankruptcy, but may not be able to tell the status of your case.
You can also ask for any local bar associations, they have a referral panels of bankruptcy. You can ask them about their experience with cases like yours. If you find it hard trusting them, you can use your yellow pages for other lawyers.
It is better to interview lawyers until you find one who suits you. Ask how many cases like yours he or she handles, and how long he or she has been practicing bankruptcy. And find someone with whom you can communicate well with.
A bankruptcy lawyer will be committed to getting you debt relief and providing you with valuable information, services and advice to get you a better financial future. They may also give you advice on where it is better to file bankruptcy.
On your first visit to your lawyer's office you should bring a list of all the creditors that you owe. This includes debts that you are not behind on like credit cards, medical bills, taxes, cars, houses, and personal loans. The better the information that you give to your lawyer, the better their advice will be. The list of your assets and income is also needed.
Your lawyer can also stop your creditors harassment, immediately once you retain a lawyer to file your bankruptcy they will start taking your creditor calls.
You should also take advantage on your lawyer's expertise. He or she can talk to you about everything in regards to your financial condition. Take note that without all the debt information your right cannot be protected. All too often, information that a client withholds because they think it is troublesome presents no problem, if disclosed. Lying to your lawyer may cause a problem where none existed before.
Read carefully the representation agreement, the draft schedules, the court notices and communications from your lawyer. Ask your lawyer questions what you do not understand at first. Inexact or not whole information can have severe and obnoxious penalties.
Cooperate in providing promptly information and feed back with your bankruptcy lawyer when requested so that court deadlines can be met. Take responsibility for your case. You are the person with the best handle on the facts of the case and the one most affected by the case's outcome. Your lawyer can file a bankruptcy with you, but not for you. He or she may help you, but not all the time. Remember, he or she is a lawyer, lawyers can only help you in regards to legal aspects.
http://www.bestnichearticles.com/Article/Looking-For-An-Effective-Bankruptcy-Lawyer/974
Mortgage after Bankruptcy - Bankruptcy Discharged Yesterday? Purchase a Home Today!
So you have been through a bankruptcy and surely have been told to wait at least two years before applying for a home loan. Waiting two long years without any guarantee of being approved for a mortgage after bankruptcy can be disheartening. Fortunately, this advice no longer holds true.
Today, there is a growing realization of the need to offer home loan products that are specifically designed for borrowers with an imperfect credit or financial history. Mortgage programs have been created especially for borrowers who have gone through a bankruptcy. In fact, those with a bankruptcy discharged for even one day may apply for a home loan. That's right, if your bankruptcy was discharged yesterday, you can qualify for a mortgage today!
Now you are probably thinking that although you are eligible, it will be difficult to qualify. The truth is that qualifying is much easier than you think. The fact that you have been through bankruptcy is not even considered in the evaluation of your credit. Any liens, collections or judgments that appear on your credit report will also not be used in the evaluation of credit and will not need to be paid off.
What is important and what will be looked at is your credit score. Now here is the good news: with a minimum FICO score of 500, you are qualified to purchase a home with a 20% down payment. Having a credit score between 550 and 579 will allow you to borrow up to 95% of the purchase price; and with any score above 580, you are qualified for 100% financing.
With the competitive rates that are available on mortgage after bankruptcy programs, you are able to realize the dream of homeownership with a mortgage payment that is affordable and fits easily within your budget. Along with the traditional benefits of owning a home, such as equity building and tax benefits, you will most importantly be rebuilding your credit profile. Additionally, you may also benefit from the current strong housing market and its appreciating home values.
So now you know the following: that you can qualify for a home loan today, what the credit requirements for a mortgage are, and that you can rebuild your credit and financial life through homeownership. Gone forever are the days of waiting two years and living with the dim prospect of obtaining a mortgage after bankruptcy. You have worked hard to discharge your bankruptcy and have the fresh start that you were looking for.
There is empowerment that comes with the knowledge that you can purchase a home today even if your bankruptcy was discharged yesterday. So get qualified for a home loan, start searching for a home and begin packing those boxes!
http://www.bestnichearticles.com/Article/Mortgage-after-Bankruptcy---Bankruptcy-Discharged-Yesterday--Purchase-a-Home-Today-/828
Today, there is a growing realization of the need to offer home loan products that are specifically designed for borrowers with an imperfect credit or financial history. Mortgage programs have been created especially for borrowers who have gone through a bankruptcy. In fact, those with a bankruptcy discharged for even one day may apply for a home loan. That's right, if your bankruptcy was discharged yesterday, you can qualify for a mortgage today!
Now you are probably thinking that although you are eligible, it will be difficult to qualify. The truth is that qualifying is much easier than you think. The fact that you have been through bankruptcy is not even considered in the evaluation of your credit. Any liens, collections or judgments that appear on your credit report will also not be used in the evaluation of credit and will not need to be paid off.
What is important and what will be looked at is your credit score. Now here is the good news: with a minimum FICO score of 500, you are qualified to purchase a home with a 20% down payment. Having a credit score between 550 and 579 will allow you to borrow up to 95% of the purchase price; and with any score above 580, you are qualified for 100% financing.
With the competitive rates that are available on mortgage after bankruptcy programs, you are able to realize the dream of homeownership with a mortgage payment that is affordable and fits easily within your budget. Along with the traditional benefits of owning a home, such as equity building and tax benefits, you will most importantly be rebuilding your credit profile. Additionally, you may also benefit from the current strong housing market and its appreciating home values.
So now you know the following: that you can qualify for a home loan today, what the credit requirements for a mortgage are, and that you can rebuild your credit and financial life through homeownership. Gone forever are the days of waiting two years and living with the dim prospect of obtaining a mortgage after bankruptcy. You have worked hard to discharge your bankruptcy and have the fresh start that you were looking for.
There is empowerment that comes with the knowledge that you can purchase a home today even if your bankruptcy was discharged yesterday. So get qualified for a home loan, start searching for a home and begin packing those boxes!
http://www.bestnichearticles.com/Article/Mortgage-after-Bankruptcy---Bankruptcy-Discharged-Yesterday--Purchase-a-Home-Today-/828
For many people, filing for bankruptcy is one of the most painful emotionally things they will have to do in their lives. It may mean the worst of your bills will go away, but it also means that you will have trouble getting credit for years. It may mean losing your home or your car. It's not pleasant even when it's the only way out.
But once it's done and over with it is time to start trying to get past that and rebuild your life and credit. You will just have to find banks that can work with you.
In many cases this means getting a secured credit card or an unsecured one that doesn't do a credit check. Whichever you get, make sure that you make your payments on time and regularly. It will take a couple years of this to prove that you are again credit-worthy, and you will probably be paying higher interest rates and/or fees for these cards, but over time you will come to the point where you can get regular credit cards again.
But more important is the impact a bankruptcy can have on your personal relationships. It's a major strain on them. Your money troubles do not vanish with the filing of bankruptcy. The things you have to give up as a result, the changes you need to make, the emotional lows of going through a bankruptcy are extremely hard on relationships.
Getting past these is in many ways harder. You may have to seek counseling. You will certainly need to talk about changing any shared habits that contributed to the bankruptcy. And you will need all possible emotional support.
If you have to hunt for work, a bankruptcy can make it harder to find a job, as many employers check credit histories. There is a feeling that people who are not responsible with their credit may not be as good of employees. Even if the bankruptcy was due to factors beyond your control, such as medical bills, this is something you may have to face.
Make a plan to improve your spending habits, especially any that were major contributing factors to the bankruptcy. Learn to live without buying so much stuff. Eat out less often. Find cheaper forms of entertainment.
It will take two years or more of work to start proving yourself on your credit history, and it will be years before the bankruptcy comes off your record. The more serious you are about showing that you have learned your lesson and that you can now be trusted, the sooner you can rebuild your credit.
http://www.bestnichearticles.com/Article/Getting-Past-a-Bankruptcy/86216
But once it's done and over with it is time to start trying to get past that and rebuild your life and credit. You will just have to find banks that can work with you.
In many cases this means getting a secured credit card or an unsecured one that doesn't do a credit check. Whichever you get, make sure that you make your payments on time and regularly. It will take a couple years of this to prove that you are again credit-worthy, and you will probably be paying higher interest rates and/or fees for these cards, but over time you will come to the point where you can get regular credit cards again.
But more important is the impact a bankruptcy can have on your personal relationships. It's a major strain on them. Your money troubles do not vanish with the filing of bankruptcy. The things you have to give up as a result, the changes you need to make, the emotional lows of going through a bankruptcy are extremely hard on relationships.
Getting past these is in many ways harder. You may have to seek counseling. You will certainly need to talk about changing any shared habits that contributed to the bankruptcy. And you will need all possible emotional support.
If you have to hunt for work, a bankruptcy can make it harder to find a job, as many employers check credit histories. There is a feeling that people who are not responsible with their credit may not be as good of employees. Even if the bankruptcy was due to factors beyond your control, such as medical bills, this is something you may have to face.
Make a plan to improve your spending habits, especially any that were major contributing factors to the bankruptcy. Learn to live without buying so much stuff. Eat out less often. Find cheaper forms of entertainment.
It will take two years or more of work to start proving yourself on your credit history, and it will be years before the bankruptcy comes off your record. The more serious you are about showing that you have learned your lesson and that you can now be trusted, the sooner you can rebuild your credit.
http://www.bestnichearticles.com/Article/Getting-Past-a-Bankruptcy/86216
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