When filing for bankruptcy in Chicago, the lawyer you choose has a big impact on the success of your case. If you select a lawyer that is not familiar with the local codes- by possibly filing Chapter 13 bankruptcy when Chapter 7 was less risky- the process becomes more difficult and your assets are put at risk. When choosing a bankruptcy attorney, Chicago residents must select carefully.
Bankruptcy filings in Chicago have increased 139% from 2006 to 2010. Not all attorneys specialize in these types of financial cases, but that might not stop them from taking your money, so choose carefully. The wrong lawyer may overlook potential pitfalls with the case. As a result, your case gets dismissed, you are forced to attend additional hearings, and your property and assets are at risk.
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Although there are federal rules that apply to these cases, every district court has its own local rules to follow. In Chicago, Chapter 7 applicants must attend credit counseling and debtor education courses, for example. A lawyer familiar with Chicago's bankruptcy laws will help you avoid stumbling blocks and move your case forward with fewer problems.
Lawyers are paid according to the complexity of the case and the chapter of the code being applying under. With Chapter 13, Chicago district courts often set guidelines as to the maximum allowable charges, although they can still be expensive as they are the more complex of the two filings. Get several quotes for legal fees before you proceed.
Chapter 13 bankruptcy filings for self-employed debtors are usually more complex than a Chapter 7 filings for unemployed debtors with no assets. In Chicago, minorities are filing 10 times as many Chapter 13 cases as whites. Without good legal representation, they may be putting much more at risk. Take the time to question your lawyer at length regarding why you would choose one filing type over the other.
In Chicago, if the debtor experiences further financial setbacks then a Chapter 13 plan can be amended or converted to Chapter 7 bankruptcy filing. Find a lawyer who will complete the necessary paperwork for you.
When hiring a bankruptcy attorney, Chicago residents will want to choose a person that is attentive to their needs and understands the ins and outs of Chicago's local systems and codes. The lawyer should have sufficient experience to work in your best interest, which means they must be familiar with rules that can affect the outcome of the case. Ensure the best results and protect your assets!
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