What Should I Look for in a Bankruptcy Lawyer?


In the way that no two people are alike, no two bankruptcy lawyers are alike. So what should you look for in a bankruptcy lawyer?

Experience, you want a bankruptcy lawyer that has done this many times. I wouldn't go with a firm with less than 10 years of experience, it may seem like some of these newer firms are a good deal. But what if they get something wrong? Suddenly your good deal can turn into a nightmare as you are saddled with debt that should have been included in the bankruptcy!

Integrity. Some firms will tell you everything you want to hear to get your business. This may make you feel good, but make no mistake bankruptcy is a long process and there are no guarantees of success. You want an agency that will give it to you straight and keep you informed through the whole process of their progress.

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Strong negotiators. Your creditors have the right to appeal being part of your chapter 11 agreement. You need a law team that is able to negotiate with these creditors and with the government in order to keep them all in your chapter 11. If you don't get the right law firm, you might end up owing money even after you finish with the negotiations.

Finally, you want a bankruptcy lawyer that understands you. It is important to express what you expect out of the arrangement, what you plan to bring to the table, and what you expect them to bring to the table. If they understand you they can anticipate your needs and make the whole process as painless as possible.


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