Bankruptcy – not a smart idea for every person.
There are two types of Bankruptcy Attorneys: Great Ones, and Horrible Ones. Getting a great bankruptcy attorney is 1000 times more important than most people realize
Sometimes bankruptcy is the smart option. And sometimes a bankruptcy attorney can burn you very badly. There are things a Bankruptcy Trustee can seize from you that a bad attorney might not tell you about because then you might decide not to file. And then they would lose your business.
While a Bankruptcy is based on Federal Law, all State and Federal laws must be checked, because just about everything is fair game for potential seizure. Could you lose your State License (CPA, CFP, Attorney, Insurance, Real Estate Broker, Construction, etc) if you have a Bankruptcy? Could the Trustee place a lien on your pending Personal Injury Lawsuit from a Car Crash? Did you know that inheritance monies and a Life Insurance Policy can still be legally grabbed away from you if you receive it within 6 months after a chapter 7 Bankruptcy is discharged? Many people have been the victim of the extremely massive mistake of filing bankruptcy before your divorce is finalized. There is much, much more that can be in play, as well.
(Required Disclaimer: Nothing on this website shall be relied upon, nor construed as legal advice or tax advice).
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