Chapter 11 Bankruptcy Lawyer
When filing for bankruptcy, the assistance of a specialist, specifically a Chapter 11 bankruptcy lawyer, is often necessary.
Since bankruptcy is litigated on a state basis, the lawyer fee that you pay will vary depending on the state that you're in. But, just so you aren't shocked, prepare to be quoted something in the range of $1,500 to $2,500. A simple bankruptcy filing will be cheaper, a more complicated filing with cost you more.
Where to Find A Chapter 11 Bankruptcy Lawyer
The first place to start your search is through connections of your own. If you currently have an attorney of any sort, whom you trust, ask him or her for a recommendation. If not, go to the National Association of Consumer Bankruptcy Attorneys or NACBA. Their organization has nearly 5,000 members spread across all fifty states, including Puerto Rico. They also have links to articles on many bankruptcy related issues that may answer a lot of the questions that you have.
What To Look For In A Chapter 11 Bankruptcy Lawyer
The important thing is that you should feel comfortable talking to your lawyer. You should feel that you are able to ask him questions without it being an imposition. There aren't many surprises in most bankruptcy cases, so there shouldn't be many excess or out of the blue fees that you have to worry about.
You also want to be sure that the lawyer will look out for your rights and that he has excellent knowledge about laws, regulations, rules as well as options and your rights that are related to your particular situation.
Although, bankruptcy attorneys work under the same codes of professional conduct as do other types of lawyers, normally, once you have your initial consultation, you really won't need to work with them as closely as you would other lawyers. Bankruptcy rules are relatively cut and dried. Your lawyer will tell you what papers and documentation that he needs from you. He will question you about your finances, debts, assets, special situations that may relate to you, and so on.
Is Chapter 11 Right For You?
There are various kinds of bankruptcy. And, there are cases where Chapter 11 may not be the best type of bankruptcy to file in which case he will advise you on your options.
A good bankruptcy attorney will even be honest with you if bankruptcy is not the best option for you. He will also let you know what you can expect when the filing is complete. What assets you will probably end up with and which ones you will probably lose. And then, he takes it from there. He will file the necessary papers with the courts and answer their inquiries, if any.
If your financial situation is complex, for example with lots of legal entanglements with partners, a good Chapter 11 bankruptcy attorney is essential in helping you to come out of the bankruptcy proceedings with as many of your assets as possible.
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