Tax Law Term “Bankruptcy Attorney“
An attorney who specializes in handling bankruptcy cases. Persons considering bankruptcy should seek the services of an attorney who is experienced and has developed expertise in handling bankruptcy cases. Bankruptcy is a Federal statutory procedure by which a person is relieved of most debts. Tax aspects of bankruptcy are very important to taxpayers who file for bankruptcy. The automatic stay of bankruptcy may stay a wage garnishment or bank account levy.
Your bankruptcy attorney will serve as your advocate and guide through what is a sometimes confusing process. Taking the time to contact a few lawyers and knowing what to look for can set you on the path toward successfully filing for bankruptcy.
When hiring an attorney to help you file your Chapter 7 or Chapter 13 bankruptcy case, look for expertise, a fair price and a communication style you’re comfortable with. NerdWallet
A bankruptcy attorney can advise the consumer on when the best time to file is, whether they qualify for a chapter 7 or need to file a chapter 13, ensure that all requirements are fulfilled so that the bankruptcy will go smoothly, and whether the debtor’s assets will be safe if they file. With expanded requirements of the BAPCPA bankruptcy act of 2005, filing a personal chapter 7 bankruptcy is complicated. Many attorneys that used to practice bankruptcy in addition to their other fields, have stopped doing so due to the additional requirements, liability and work involved. After the petition is filed, the attorney can provide other services. Wikipedia