What You Should Expect When Hiring a Bankruptcy Attorney during the Lockdown
Bankruptcy is a challenging experience for individuals and companies alike. There’s no denying COVID-19 has brought about a great number of crises on all levels of the economy, naturally causing a surge in bankruptcy filings and related proceedings. With ever more people seeking to get qualified help, awareness needs to be raised to ensure that everyone has access to such assistance. This article focuses on hiring a bankruptcy attorney during the pandemic.
Hot Season for Bankruptcy Attorneys
While some potential customers express concerns that it might be difficult to find bankruptcy attorneys during the lockdown, there’s nothing to prevent you from contacting a specialized bankruptcy law firm these days. In fact, specialization has become more popular since the pandemic broke out. Job openings for lawyers specializing in this area triples in the first months of the lockdown, which is indicative of high demand.
Reasons to Hire a Bankruptcy Attorney
Many people are initially opposed to working with a professional attorney, thinking that they cannot possibly afford one due to their bankruptcy. It is important to realize, however, that qualified help will let you avoid the most feared consequences of filing for bankruptcy or, in an even gloomier scenario, failing to do so in hope of repaying the debt that has long been mounting. Here is an incomplete list of what a bankruptcy attorney can do for you:
- advise you on which type of bankruptcy you should file for;
- help you with the means test to make sure you qualify for the bankruptcy type you have chosen;
- assist you with the required paperwork;
- work out an effective strategy for 341 meetings with your lenders to help you negotiate undesirable turns in the conversation;
- help you evaluate your assets;
- consult you on exemption laws so you can take advantage of those.
To sum up, hiring an attorney is a solid way to secure your financial situation as much as possible under the given circumstances.
Where to Look for a Qualified Attorney
The web and recommendations from someone you know are both good places to start. If you choose the former approach, be sure to focus on local attorneys who specialize in the types of bankruptcy that you are contemplating, preferably with valid experience in the time of the pandemic.
In case you want to save time, bankruptcy firms offer you a selection of professionals in the field you are interested in. This, however, does not eliminate the need for a thorough interview with each candidate like you are hiring someone to work for you on a full-time basis.
Managing Bankruptcy during the Coronavirus Outbreak
The US federal government has introduced a number of relief mechanisms to help individuals and smaller businesses who have suffered dramatic losses in the wake of the pandemic. From special benefits to exemptions to frozen foreclosures and evictions, a qualified bankruptcy attorney should have an idea of how you can take advantage of these opportunities. Indeed, reaching out for help often proves to be the most difficult step in the sequence.
Grief Shared is Halved
Bankruptcy is one case where the old saying most certainly applies. However counterintuitive it might sound to look for an attorney when your financial situation seems to be beyond critical, a qualified lawyer with expertise in this field can help you dodge challenging questions and work out the most fitting bankruptcy strategy. With experience in the times of the COVID-19 pandemic, a bankruptcy attorney might also help you leverage the special lockdown relief laws that have been introduced since the outbreak first manifested itself.