Bankruptcy is declared by an individual or business when the said party is unable to pay back what he owes to his or her creditors. The process of filing for bankruptcy is complex and there are number of stages to its verification. This cannot be done on your own and you will need good representation on your behalf, to determine the success of any bankruptcy claim filed.
Hiring legal representation is a good idea since they will understand terms and conditions better, being well versed with all the legal jargon and procedures. However there a number of things you should consider before hiring legal representation to file for your claims.
Is it worth the cost: Normally people file for bankruptcy when they don’t have any money left, let alone have some reserves to pay for legal representation. But the main question being is hiring an attorney for the purpose worth the investment? Legal representation can be expensive, depending on how good the firm or attorney is. But as mentioned earlier, bankruptcy claims are very complicated to file and if not done at the right time, chances are your plea might just be rejected. Thus, hiring a good attorney will cost you some money, but he or she will ensure that the case is in your favor.
Qualifications and background: Do a thorough research on the attorney’s education and background. This is necessary to ensure that your representation has the necessary qualification and knowledge to back you up while filing for bankruptcy. The process is quite complex and the legal representative must know his way around procedures like the back of his hand. Of course, hiring someone who has graduated from an ivy league university and is now a partner with a major firm will be your first choice. But take into account the associated costs and it won’t hurt to consult with others who might be just as good, even if they didn’t go to an ivy league university.
Experience matters: Experience in terms of representing your client and previous track record matters. Legal representation should not only be qualified, but also have a good case record, mostly wins if possible. Of course, bankruptcy lawsuits and claims are different compared to your regular court cases and proceedings, but hire someone who knows what he or she is doing.
Communication is key, your lawyer should be able to explain legal terms in a language which you can understand and keep you up to date with the status and progress with respect to your claim. It would be very beneficial to hire someone through a mutual friend or known person so that there is a good relationship established form the very beginning instead of looking for a complete stranger to represent.