Over-indebted people need professional help if they want to reduce their debts in an orderly manner. The way out of debt is quite lengthy and rocky and presents those affected with numerous challenges and sometimes difficult to answer questions. In particular, the legal aspects of over-indebtedness overwhelm many debtors. The following guide explains how a bankruptcy lawyer can help you.
Insolvency lawyer in a nutshell
What does a bankruptcy lawyer do?
In the event of your bankruptcy, a lawyer offers comprehensive debt and bankruptcy advice. He also advises creditors on their rights in bankruptcy proceedings.
How is a bankruptcy lawyer different from a specialist lawyer?
Compared to conventional lawyers, a specialist lawyer for insolvency law has verifiable specialist knowledge and practical experience.
I can’t afford a lawyer. What can I do?
Poor people can apply for a counseling aid certificate for out-of-court debt advice from a lawyer. It happens, however, that local courts refuse advice if there are public debt advice centers on-site.
How and where does a bankruptcy lawyer help his clients?
Individuals and companies affected by insolvency or over-indebtedness need appropriate legal advice. Ideally, you look for an expert who has the appropriate economic and legal expertise and the necessary practical experience. Attorneydebtfighters.com -bankruptcy attorney is such an expert and a good alternative to state or public debt counseling. Its services include, for example:
- The legal examination of whether the oblige is right to assert his claim
- Advice on the possibilities of taking action against the unlawful assertion
- Negotiation with creditors to reach an out-of-court settlement
- Advice on averting and protecting against enforcement measures
- Information on the bankruptcy procedure
- Application for regular or personal bankruptcy
A specialist lawyer for bankruptcy law differs from a conventional lawyer for bankruptcy law in his specialist knowledge. A lawyer is only given this designation if he…
- Special knowledge of insolvency law, insolvency procedure law and business basics and
- Can prove certain activities, including at least 5 opened proceedings as an insolvency administrator and at least 60 processed cases in the area of insolvency law.
What is bankruptcy law?
If a debtor is insolvent or over-indebted, he is considered bankrupt. The impending insolvency is also a reason for bankruptcy. In this case, bankruptcy law applies, which on the one hand is intended to help creditors to gain their rights. On the other hand, it offers the debtor the prospect of a residual debt discharge if he goes through the insolvency proceedings properly. In principle, it is about an orderly debt settlement and an appropriate balance of interests between debtor and creditor. The main instrument for this is the insolvency procedure.
Debt advice from a bankruptcy lawyer
However, effective advice in the event of over-indebtedness does not only start with the question of whether a debtor should file for bankruptcy. A bankruptcy lawyer starts much earlier.
Destitute consumers can apply to the local court for a counseling aid certificate for out-of-court debt counseling. If this is granted, there are no legal fees. There is only a fee of 15 dollars.
If you actually commission the lawyer for personal bankruptcy and bankruptcy law, he will first carry out an inventory. He determines the outstanding liabilities and, if necessary, asks the creditors for an up-to-date list of claims. The lawyer then checks whether and to what extent the claims are justified or whether there are options to take action against them.
On this basis, the lawyer can create a debt relief concept that is precisely tailored to the individual situation of the person concerned. An essential element of this concept is the debt settlement plan for the out-of-court settlement with the creditors. This attempt at an agreement requires a high level of negotiating skills. The bankruptcy attorney will also discuss with you whether it is necessary or sensible to apply for bankruptcy proceedings. The lawyer can also advise and support you before, during and after the bankruptcy.
Duties of a lawyer in personal bankruptcy
Bankruptcy law and bankruptcy proceedings present numerous pitfalls. The insolvent debtor faces numerous duties and obligations during this time. Even filing for personal bankruptcy is tough.
- A lawyer takes on the following tasks:
- Issuance of the certificate of the failure of the out-of-court settlement in accordance with Section 305 of the Insolvency Code
- Advice on shortening personal bankruptcy proceedings
- Assistance with filing for bankruptcy
- Assistance with the judicial debt settlement procedure according to § 309 Bankruptcy Code.