When you’re going through a bankruptcy filing, a bankruptcy attorney will protect your business from lenders when you’re in danger of being declared bankrupt. A bankruptcy attorney can also assist you in obtaining time to reorganize your company and clear existing debts. They also have Chapter 13 and Chapter 7 bankruptcy lawyers on staff. They can help you obtain financial counseling and negotiate with your creditors. A qualified bankruptcy attorney is familiar with the laws and regulations and how they apply to your particular case. It’s important to retain an attorney that you trust and who can keep in touch with you on a regular basis. Some attorneys charge an hourly fee but most will work for a flat retainer.Learn more by visiting Knoxville Bankruptcy Attorney Association
Most lawyers are not allowed to represent any client who has not filed for bankruptcy. They must also follow strict ethical guidelines that are laid out by their state’s bar association. Because they work with people who have been declared bankrupt, they must be honest and ethical at all times. They will take care not to disclose any details of your personal or private financial information during meetings or negotiations. For this reason, you should always discuss any and all information relating to your finances with your lawyer before any meeting takes place. Even the smallest amount of financial information, like which accounts you want to pay off first and which accounts are open, should be discussed during a consultation with your lawyer.
A bankruptcy attorney also understands your goals and the effect filing for bankruptcy will have on them. If you’re a small business owner who doesn’t own your own business or own it outright, then you might think that a bankruptcy attorney cannot be of help to you. This is untrue. Your bankruptcy attorney will listen to your goals and objectives and can help you achieve them. They will review your finances and work with you to set up a realistic plan to reach your goals.