It’s not easy to go bankrupt. At first it looks like it’s the end of the world. In reality, it’s actually not that bad. It’s an opportunity to start over, learn new things about how the economy works, and become more disciplined with your money allocation.
It is not easy to change your spending habits overnight, but this is a good exercise to change your routine, start from the scratch and build yourself up from 0.
I wanted to learn more on how to best behave during the period of bankruptcy and how to find the best bankruptcy attorney, so I spoke to the experts at the Law Offices of Mark L Miller. Here’s what you should do:
Don’t Waste Time
When you realize that you are going to go bankrupt the best thing you can do is prepare yourself properly. Don’t sit idly waiting for it to happen. Try hard to react first and find a good attorney to build your case.
No matter how good they are, if you don’t give them enough time, they won’t be able to prepare your case. Be proactive, give yourself enough breathing room to find a decent attorney and let them help you.
You can start by asking your business associates, or your friends. Maybe some people in your field have already had this experience and know experienced professionals. Asking within the circle of your friends and people you work with is a good start.
If you already have a lawyer, make sure they can deal with bankruptcy laws, or if not, you can ask them to recommend a colleague of theirs.
Another option is to visit courts and see bankruptcy attorneys in action. By doing so you will get some insight on who might work best for you, but more importantly, meet these people and have a chance to talk to them and present them your case. This way you can directly see whom you might like and later approach them.
You can also check local bankruptcy panels to find out who sits there. You can rest assured these are all experienced people who primarily focus on bankruptcy law.
Another angle is to visit local creditor committees and find a list of attorneys who tackle cases like yours. These people put their names to offer services and you can be sure you are in good hands.
Don’t Choose The Cheapest Option
This logic can be applied to any aspect of your life, but since you are bankrupt, cash might be a problem so your options are limited. Still, you need to be smart here and opt for an attorney that has experience with the system and also has the willingness to dedicate time and effort to you.
You can never be 100% sure whether you picked right, but finding the middle ground between the cheapest and the most expensive option is always a good choice. Try to stay within your budget, but consider that you need a good defense.
Unfortunately, your involvement is not done when you hire an attorney. In order to be sure the job will be done right, you need to be involved throughout the process. Don’t let any filing go through without checking them first. Don’t forget to check your creditors.
Your attorney is there to help you, but if you remain passive and uninterested in the case, that negative attitude might affect the outcome. Participate, keep your attorney in check, if needed. Help them help you to everyone’s interest.
Bankruptcy is a tough period, but if you put some effort in finding the right person to help, and not wait for ‘’things to happen’’, you might make your life much easier, and create a firm foundation to start over.