There is a misconception that just any bankruptcy lawyer will do if you have a “simple” case. What is a “simple” case? who told you that?
Nothing could be further from the truth! How do you know that you have a “simple” case:
- A highly qualified bankruptcy expert has to determine if you are ELIGIBLE for some type of bankruptcy case. This may not be as simple as it sounds .For a consumer chapter 7 bankruptcy case there is an income ceiling you cannot exceed. There is also a waiting period from a prior case and a residency test that must be complied with. Determining whether you meet these requirements could be quite complicated; and finding a way to qualify you could make the difference between filing and not filing.
- There are also many RISK FACTORS to consider:
- Are you eligible for an automatic stay of actions or proceedings against you?
- Do you presently own an interest in real estate?
- In your name?
- with someone else?
- under a trust or estate?
- in another country?
- in a business that you had an interest in?
- how much is it worth?
- can it be protected from a bankruptcy trustee?
- Did you previously own an interest in real estate?
- What happened to it?
- Did you receive any money for it?
- When?
- Did you ever have financial assets that you no longer own?
- What happened to them?
- When?
- Do you have the right to sue anyone?
- Would your recovery be protected from a bankruptcy trustee?
- Did you recently pay any friend, relative or existing creditor?
- would a bankruptcy trustee be able to sue then to recover the money?
- Would it be better to wait before you file for bankruptcy?
- if so, How long?
- `What is the best Bankruptcy Chapter for you to file under?
- Chapter7?
- Chapter 13?
- Chapter 11?
- Subchapter V of chapter 11?
- Should your file with or without your spouse?
- Will you be able to get a bankruptcy discharge
- What debts cannot be discharged in bankruptcy?
- What are the tax consequences
- Of not filing for bankruptcy
- Of filing a chapter 7 or chapter 13 case
- Of filing a chapter 11 case?
- What mediation tools are available in conjunction with a bankruptcy filing?
- Who told you your case is simple, or did you just make that assumption?
- If you needed surgery, would you go to a general practitioner?
- If your financial future is at stake why trust your future to anyone but an expert?
PAUL HOLLENDER has been practicing bankruptcy law for almost 50 years. He is available to help you devise a customized financial strategy which either enables you to navigate the complicated bankruptcy maze, or warns you to avoid it and can structure a non-bankruptcy solution. And he can customize a payment plan that meets your budget.