It’s become exceedingly commonplace to see millionaire and billionaire celebrities filing for bankruptcy, a fact which surprises many people. However, bankruptcy can and does happen to people from all walks of life.
While many people falsely assume that bankruptcy filers are doing so as a result of financial mismanagement or irresponsibility, the truth is that the majority of filers — 62% — are filing as a result of illness and associated medical bills, according to the American Journal of Medicine. In addition, a 2011 study found that 60% of bankruptcy filers earn salaries of less than $30,000.
If you or someone you know is considering filing for personal or business bankruptcy, finding a lawyer who has relevant experience practicing bankruptcy law is of the utmost importance. While filing for bankruptcy without legal representation is possible, it’s not advised. For example, with an attorney, the success rate for Chapter 7 bankruptcy claims is over 95%.
Finding an attorney doesn’t have to be difficult; however, it’s important to know what traits to look for in a bankruptcy attorney. This will make choosing an attorney that much easier. Read on to find out why the team here at The Law Offices of Craig L Cook can make a difference in your case.
You wouldn’t go to medical specialist who didn’t have experience treating your specific condition, so why go to a local bankruptcy lawyer who doesn’t specialize in or regularly practice personal bankruptcy? A good way to begin your search is by checking to see if the lawyer in question has an attorney on staff hat specializes in that field.
Filing for bankruptcy requires a lot of communication as well as exchanging a lot of paperwork with your attorney; therefore, choosing an attorney who answers your queries in a timely manner is important. If you’re unable to get in contact with your attorney during the early consultation stages, it may be a sign that you’ll have trouble getting your questions answered in a reasonable amount of time during the actual case.
Attention to detail
Choosing an attorney who thoroughly explains each step in the filing process and helps you explore your options when filing can help you feel more at ease and in control. Your potential lawyer should carefully review your financial situation and assets in order to determine which solution is best. Understanding the full range of resolutions reduces the chance you’ll regret filing, and allows you to move forward with confidence.