Monday, November 4, 2013

5 Things You Must Understand About Filing Bankruptcy

things you must know about filing bankruptcy
My Thoughts:

Above, I have given you a link to a great article for people considering or starting the process of filing for bankruptcy.

Each of these five expectations are absolutely essential to the bankruptcy process. I especially like that one that says "read what your lawyer sends you."

Lawyers are often too busy to actually call you and explain things. Also, we like to keep meticulous records of what we have told you. That way, we can always point to an email record to show that the client was informed about something. If you don't read it, you may make a key mistake and have no recourse.

On the other hand, you should do the same thing. Communicate through email whenever possible. That way you also have a record of what the attorney should know and he/she has responsibilities arising from the information he/she has. The attorney cannot say you didn't tell him/her if it is in an email.

The other one I like is "don't expect your lawyer to do all the work." A bankruptcy lawyer normally will create and file several petitions a month. Generally, we know what we need and will ask you for it. If you give it to us in an organized form, we can get things done pretty quickly. However, its the client's job to get those documents in front of the lawyer, preferably in an organized way (it takes a lot of time to sort through unorganized stacks of papers).  

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