Shopping for a bankruptcy lawyer? It would be to your best interests to interview a few potential bankruptcy lawyers who can represent you before hiring one for yourself. Bankruptcy protection can be a rather complex process so it is imperative that you hire a bankruptcy lawyer that is both competent and caring towards your case. Here are some things you should find out from a bankruptcy lawyer before hiring him or her.
Find out the obstacles he expects to encounter in filing for your bankruptcy. Do not ask a close-ended question that only requires a “yes” or “no” answer. When you ask an open-ended question like this one about the obstacles in bankruptcy, you have the opportunity to discover what the lawyer knows about the common problems in filing for bankruptcy. This is a good indication of the lawyer’s competence and experience or lack of it.
Ask if another lawyer will be handling your case. It is quite common for lawyers to delegate certain cases (or parts of cases) to junior lawyers or other employees. When you ask this question, you give the lawyer the chance to inform you of any other lawyer involved in your case. If there is (and there likely will be), then ask about the qualifications and experiences of the other (junior) lawyer. This causes everything to be above board right from the start of your petition.
Do not be afraid to ask specific questions about fees. But you should ask for the breakdown of the lawyer’s fees and not merely the total figure. This is because the lawyer would likely charge for incidental and out-of-pocket expenses as they come along. Once you know the specifics of the fee, you can decide on whether to hire the lawyer or look for someone with more reasonable fees.
When you take the trouble to find out these things before engaging the lawyer, you will ensure that you get the best legal service for your money.
If you are looking to file for bankruptcy, call us at (813) 200 4133 for a free consultation.
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Filed under Chapter 7 (Tampa) by on Feb 21st, 2012. 1 Comment. 
It is not uncommon to get ripped off when making a purchase of certain goods or being overcharged when hiring someone for services. In many industries there are no governing regulations and prices are generally dependent upon market forces. But unlike other industries, the legal industry insofar as bankruptcy is concerned has its fees governed by law.
The bankruptcy judge has the right to determine the fees charged by bankruptcy attorneys to some extent. Section 329 of the bankruptcy code gives the judge this power. In fact, it is legally binding for the bankruptcy attorney to declare his fees to the court. The court then reviews the charges and decides if the fees charged are unreasonable. Being required to do this causes many bankruptcy lawyers not to charge excessively for their services.
But there are no hard and fast figures that determine if a fee charged is excessive. Among the things the bankruptcy judge takes into account in deciding whether fees are reasonable are the complexity of the case, the competence and skill of the lawyer and the amount of work the lawyer did in the case. A long-drawn or complicated Chapter 13 bankruptcy would warrant a higher fee than a straightforward Chapter 7 case. If the attorney solved difficult problems for the client, set out creative strategies or filed correct petitions, the charges can be higher.
If the judge determines that the fees charged are excessive, the onus is on the lawyer to prove otherwise, failing which the lawyer has to lower his fees.
So if you are contemplating filing for bankruptcy but are hesitant to do so because of affordability issues, it’s time to put aside such concerns. Call us at (813) 200 4133 for a free consultation on how bankruptcy can give you a new lease of life financially by eliminating your debts.
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Filed under Chapter 7 (Tampa) by on Jan 30th, 2012. Comment.
Filing for any type of bankruptcy is a major decision that will have repercussions in your life for many years. That is why it is important not just to hire any lawyer but to hire a competent and qualified bankruptcy lawyer. A competent bankruptcy lawyer can be a great strength and asset to have on your side in your fight to fend off creditors and pay off your debts. A good bankruptcy attorney can not only guide you through the bankruptcy process but also help protect your assets and advise you about what to do with unreasonable and difficult creditors.
When choosing a bankruptcy attorney, you should do a few things starting off with asking friends or family members who have filed for bankruptcy before for advice. Someone who has gone down the road you are taking will not only be able to empathize with you but also recommend a good lawyer to you (or tell you which ones to avoid).
If you do not know anyone who has filed for bankruptcy personally, you can do an online search for a bankruptcy attorney. Get all the preliminary information about a lawyer from his or her website. Go to lawyers’ rating agencies like AVVO (www.avvo.com) and read the independent ratings and comments of the lawyers you think are good bankruptcy lawyers. Also read past clients’ comments on these lawyers. After doing your due diligence online, shortlist all the good lawyers and call the ones you think can potentially represent you and request for a consultation.
You should not limit yourself to choosing an attorney that is only within your city. These days, it is easy to communicate with anyone even from another state. We have had clients from outside Florida who we have successfully represented as bankruptcy attorneys. So from your shortlisted list of lawyers, call each of them for a consultation. If an attorney will not see you or if you have to jump through too many hoops to get a consultation with an attorney, then you should strike that attorney off your list. Most good bankruptcy attorneys will see you once you have made an appointment and most will grant you a free consultation. If not, simply move on to the next bankruptcy lawyer.
When discussing your case with the bankruptcy attorney, be sure you ask about the fees. Then compare fees among lawyers. You do not necessarily have to go for the lowest fee, but it is a valid factor to bear in mind when making your final choice of bankruptcy lawyer.
If you are looking for a bankruptcy attorney to represent you, call us at (813) 200 4133 for a free consultation.
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Filed under Chapter 7 (Tampa) by on Jan 16th, 2012. 1 Comment.
Since the bankruptcy filing of MF Global on October 30, the brokerage firm’s creditors have started to take action to recover their losses. These include suing the company’s advisers, searching for assets overseas and seeking information from a probe into the mingling of customer accounts. MF Global’s liabilities amount to $39.7 billion and its assets are valued at $41 billion. The firm has said it has about $26 million in cash. But about $593 million of MF customer funds cannot be unaccounted for.
At this point, the trustee overseeing the liquidation of MF Global’s operating unit, James Giddens has started an investigation into possible fraud or misconduct, as has the FBI. Giddens was allowed by the bankruptcy court to investigate the company’s directors and officers, lenders and other investors. The investigation will be centered primarily on customer recoveries. Besides the FBI, other government agencies investigating are the Commodity Futures Trading Commission and the Securities and Exchange Commission. MF Global requested an extension to the usual 14-day period to provide its list of assets and debts and was granted an extension till January 30 to do so.
The trustee is facilitating the formation of a creditors’ committee to look after their interests. The majority of these creditors are unsecured bondholders. But creditors and bankruptcy lawyers may hesitate to get involved in the case because of fears that it may have insufficient funds to pay the committee’s legal fees.
Another group taking action are members of exchanges who provided liquidity for MF Global to trade. Among them are members of the New York Mercantile Exchange, COMAX and Intercontinental Exchange.
MF Global’s financial problems began escalating when the firm issued two tranches of $325 million in repo-to-maturity debt and made bets amounting to $6.3 billion on financially-strapped European countries like Portugal, Italy and Spain, among others. US regulators had questioned MF Global’s use of so-called repo-to-maturity transactions as early as March.
MF Global tried to sell itself before filing for bankruptcy but there were no buyers. The firm subsequently filed for bankruptcy. Usually, such a company would seek loans to fund their operations in bankruptcy from a lender who wants to protect its prior investment, or a potential buyer. In MF Global’s case, the financier is likely JPMorgan Chase & Co. JPMorgan Chase & Co., agent to a $1.2 billion unsecured loan, also provided a $300 million secured loan to MF Global’s brokerage. JP Morgan has asked for all of MF Global’s remaining collateral.
MF Global’s bankruptcy could end up as complex as that of Lehman Brothers, where disputes arose over whether parties holding collateral for one transaction have a right to hold it because they have an unrelated claim against MF Global.
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Filed under Chapter 7 (Tampa) by on Nov 8th, 2011. Comment.
Bankruptcy is the term replied when individuals or businesses get rid of all their debt with the help of the federal court system. Those who file this type of bankruptcy give up any property that they own and it is sold in order to pay off their debts. This is called a liquidation of assets. However, in Florida there are some exemptions in the bankruptcy process which prevent debtors from being able to seize certain items. These laws are very important for anyone who is thinking about filing bankruptcy. There are federal and state laws that provide bankruptcy candidates with helpful exemptions.
These exemptions clearly spell out those things that are protected from bankruptcy by the law. One of the first questions that people ask is what is going to happen to my family and me and my home is taken. The Florida Homestead Exemption makes sure that your home is protected from creditors. You should be aware of the stipulations that exist for this exemption.
All property that is located in the city and it exempted cannot be larger than 1/2 acre. Property owners that live in the country or a rural area cannot have property larger than 160 acres. Once the conditions are met you can automatically claim your home under the Homestead Exemption and make sure it is protected during bankruptcy. This is how even people who file bankruptcy are able to save their homes. Regardless of the amount of equity in your home or the amount you owe, you get to keep your home. You should also know that when you file bankruptcy in Florida your pension is protected.
For those people who receive a disability check or contribute to a retirement account their funds are protected from seizure. Creditors cannot liquidate your pensions because they are exempt from your bankruptcy. Payments such as child support, workers compensation and alimony are also exempted from bankruptcy and cannot be used as payment to creditors. Parents should know that if they have any Prepaid College Funds for their kids that these are exempt from bankruptcy. Special funds such as this that have been set aside for your children's college cannot be seized by your creditors. Florida exemption laws make sure that your Medical Savings Accounts are safe from your creditors. It is also important to note that when filing bankruptcy, any Medical Savings Account that you have are safe from your creditors. Anyone who is filing bankruptcy in Florida should understand their options.
For those who are trying to get started they may want to seek help from a lawyer or research an online bankruptcy website. Each of the exemptions were created to try and help Florida citizens and every eligible citizen needs to take advantage of them. Tampa Bankruptcy Attorney, Darrin T. Mish has been helping debtors with debt problems for over a decade. At the Tampa Bay Bankruptcy Center we really care! To get more information on your bankruptcy options visit his website at: http://tampabankruptcy.pro.
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Filed under Uncategorized by on Aug 26th, 2011. Comment.
