Category: Bankruptcy

Choosing The Right Bankruptcy Lawyer

Posted on by Bernie

The bankruptcy field of law has overflown with a big number of licensed lawyers. It is a difficult task determining the right lawyer for your bankruptcy case. Clients walk into offices of these bankruptcy lawyers and end up being disappointed; this is because some lawyers are unable to fix problems caused by cases of bankruptcy. At some point, inexperienced bankruptcy lawyer often charges unrealistic prices.

 

piggy bank and cash

Charges a reasonable fee

Before you choose a bankruptcy lawyer, it is good to shop around and compare the charges that different lawyer charge for their services. The bankruptcy lawyer charges depend on how the case is completed and how the filling process of your case is conducted. It is important to choose a lawyer that understands your situation and charges a reasonably low price. A good bankruptcy lawyer should give you the best service at a cost you can afford. The lawyer should understand the fact that you are bankrupt; therefore, he should not exploit your situation.

 

Communicates effectively

The bankruptcy lawyer you intend to hire is supposed to have a better communication skill. Communications help a lot when the lawyer is presenting your case in the court. He should have skills in defending clients until the case is completed. Communication skills also involve writing skills and great documentation of your content and files for the case in court. The lawyer should be able to answer questions conveniently. On the other hand, the lawyer you chose should give relevant reports and quick response to your calls whenever you need consultancy or inquiries.

 

Necessary expertise in handling your case

The bankruptcy lawyer you hire should have the necessary skills to handle your case effectively despite how simple or complicated it might be. Make sure that the bankruptcy lawyer you have has done similar cases before. This will guarantee you confidence in this lawyer’s service. You need to avoid lawyers without experience to ensure that your case is completed successfully. Expert bankruptcy lawyers have all the skill and qualifications to make your case a success without disappointment.

 

Experience in the bankruptcy law

This is the most important factor to consider when you are hiring a bankruptcy lawyer. Most areas of the law including bankruptcy is quite complicated; ensure that the lawyer you choose has a better understanding of substantive rules and all the procedures in presenting you effectively. Choose a lawyer who specializes in the bankruptcy firm only, that is, deals with some cases on a regular basis.

 

Gavel

Education background

The bankruptcy lawyer you choose should have the right educational qualifications that certify him a professional lawyer ensure that the lawyer has graduated from a certified law school in your region or anywhere else. You need to ask the lawyer to provide certificates to prove his qualifications. Insist on checking the education background of the lawyer on his website or confirm with the law firm in your region.…

How Filing For Bankruptcy Affects Your Credit Score

Posted on by Bernie

Those who consider filing for bankruptcy have numerous questions regarding their future, and they wonder if obtaining the right arrangement for their particular situation. First of all, once a bankruptcy appears on your credit report, it’ll remain there for 10 years. While you might be able to achieve some amount of credit, because you declared bankruptcy, it’ll negatively impact your overall credit score with the three major credit bureaus.

Additional credit cards

One question, in particular, that’s uppermost in the minds of those who declare bankruptcy is their ability to obtain additional credit cards down the road, as well as what their credit rating is for buying a home or any other big purchase. If a person owes thousands of dollars on a credit card, it must be listed on their bankruptcy forms as a debt. These forms are filed under penalty of perjury, and if fraud is detected, the bankruptcy process will come to a screeching halt.

credit cards in wallet

Perjury

Perjury is a federal crime, and you’ll end up having to pay a hefty fine or doing a number of years in prison if you are willing and knowingly falsify any documents that you submit in your bankruptcy case. The Internal Revenue Service takes bankruptcy fraud very seriously and will prosecute those who commit it to the fullest extent of the law. They have enormous resources at their disposal and can track down anyone, anywhere regardless of who they are or where they hide.

Is there a need to list credit cards on the bankruptcy form?

As for your credit cards, you won’t have to list them on your bankruptcy forms as debts unless you’ve made purchases with them. So it’s up to you whether or not you choose to keep or discard them. If you decide to retain them, you may not have them in your possession very long because your particular credit card company might decide to cancel them as a precautionary measure, since you’ve proven that you can’t manage your spending habits.

Credit limit

using penWhile a person can still obtain a credit card even after filing a recent bankruptcy, their credit limit – if the person gets one – will be very low. In addition, the person can expect to pay exorbitant interest rates because (s)he is a much higher risk.

Those particular type credit cards should be avoided entirely because you’ve proven your inability to manage them properly. The best credit card for someone who has recently filed for bankruptcy is a secure card, and many banks offer them. The way they usually work is you deposit a certain dollar amount, say $200, into an account, and that $200 is your credit limit.

For any concerns about bankruptcy, contact Bolinske Law firm.…