Bankruptcy is a legal process that allows individuals and businesses to wipe out their debts. It’s an excellent way to get a fresh start when you’re drowning in debt, but it’s also a very complicated procedure that needs careful consideration. If you’re considering filing for bankruptcy, you should hire a qualified Bankruptcy Lawyer in Phoenix Arizona to guide you through the process.
What Are the Key Qualities of a Good Bankruptcy Attorney?
To be a bankruptcy attorney, you need to have extensive knowledge of the federal laws that govern these cases and understand how they affect your clients’ property rights. You also need to be knowledgeable about state laws and how they affect the use of liens and garnishments.
You must be able to work well with others and be empathetic, especially in times of financial hardship. You should be able to listen to your client’s concerns, and offer practical solutions that will help them regain their financial footing.
The best bankruptcy attorneys are refined professionals with a strong track record in handling their clients’ bankruptcy cases. They have the experience and skills necessary to deal with the complexities of the Bankruptcy Code, and they will be able to give you the guidance you need through this difficult time in your life.
Your initial consultation with a bankruptcy lawyer should be free and preferably in-person or over the phone. During the appointment, you should provide your attorney with the details of your assets, your debts and your income. This information will help your attorney understand your situation and make sure you are suited for the correct type of bankruptcy, as well as help you prepare your case.
If you have a large amount of debt, you should consider filing for Chapter 7 bankruptcy. This will allow you to eliminate some of your unsecured debts and receive a discharge (forgiveness) from your creditors.
Some debtors choose to file for Chapter 13 bankruptcy, which allows you to set up repayment plans that are tailored to your unique financial situation. This option is often favored by small business owners and is more time-consuming than a Chapter 7.
The cost of your bankruptcy filing will depend on the type of bankruptcy you’re filing for. For example, a Chapter 7 bankruptcy is usually less expensive than a Chapter 13, but it may take longer to complete and you’ll have to fill out a lot of paperwork.
A bankruptcy attorney will handle all aspects of your case, including completing and filing required court documents. They will also keep you informed about the status of your case and answer any questions you have.
They will help you to prepare for your meeting with a judge by ensuring that you have all of the documents you need, and they will attend the hearing when it comes. This is particularly important if you have a lot of complex debts or other issues that may impact the outcome of your case.