Thursday, 1 May 2014

About Bankruptcy Attorneys

Bankruptcy attorneys are not uncommon in the world of U.S. law. A bankruptcy attorney is quite specialized and deals exclusively with filings.

1) the bankruptcy filing
2) review of a recovery plan
3) approval and execution of the recovery plan, and
4) dismissal of the bankruptcy case.

Chapter 11 bankruptcy attorneys deal with large corporations and organizations. Chapter 13 attorneys are more geared towards bankruptcy filings for small businesses and individual wage earners. Like Chapter 11 bankruptcies, the lawyers are prepared to help the debtor file a recovery plan, get it approved by the court, and execute the plan.

Chapter 7 bankruptcy attorney operate a bit differently since during a Chapter 7 filing, the debtor will have to sell all legitimate assets to pay outstanding debts. The most common question asked among individual petitioners who file for Chapter 13 or Chapter 7 is whether or not they can proceed with the filing without a bankruptcy attorney. If you are considering filing for bankruptcy, choosing the right attorney can help you recover your financial plans.