Bankruptcy is an appeal to the court, to clear an individual of all his/her debts, since he/she is not able to pay anymore. The procedure requires a lot of paperwork, proofs and negotiations. This is when bankruptcy attorneys are needed, be it in Flint or anywhere else. The attorneys take care of all the legal steps that go into claiming the bankruptcy state and settling the matter once the state is got. Since bankruptcy involves money, proper management and convincing ability are required. An attorney thus plays a vital role in the process.
Bankruptcy Attorneys’ Tasks
Here are some of the tasks which bankruptcy attorneys in places like Flint perform,
1. The first task is of course related to all the paperwork that is part of filing, negotiating and settling bankruptcy processes.
2. They aid their clients in getting “fresh start” according to federal laws. “Fresh start” is a chapter in law which states the rules using which it is determined whether or not a bankruptcy is valid. It also contains other regulations regarding how the proceedings should go on once the court approves bankruptcy. Once a person gets a “fresh start” he/she is devoid of all the debts and unpaid bills.
3. The attorneys are also responsible for the meetings that are held between their clients and their creditors. Once the court approves bankruptcy, a meeting with the creditors is arranged to find out if they have any counter points. Here the creditor will question the client about all his/her assets to confirm whether or not the person is truly a bankrupt. The attorney speaks on behalf of the client in the meetings. If the creditor claims to the court about any discrepancies, the attorney takes over the legal matters further.
4. Bankruptcy is not just filed by individuals but also by businesses. The bankruptcy attorney takes up these cases and puts it forth in the court with all the necessary details. A business bankruptcy can be filed if the business is directly under loss and cannot give back its dues. The second type would be when the business owner is not able to pay back his/her dues towards the creditors. Both these cases are managed by the attorneys.
5. Sometimes bankruptcy can be taken in terms of paying back debts in a pace and manner that suites the client’s current position. The attorney takes care of consolidating your debts, negotiating with the creditors, making new terms for payments and so on.
Once a bankruptcy state is attained, one has to manage his/her next steps in terms of getting credit. All the nuances related to this are handled by the attorney. This will aid their clients to freshly restart on the right note.