Bankruptcy Attorney To Help You Navigate The Complicated World Of Bankruptcy

Ascent Law LLC

In a bankruptcy case, a lawyer will represent debtors and creditors in negotiations. The goal is to get the debtor a higher rate or enhanced compensation than would be possible in a non-bankruptcy engagement. Furthermore, a bankruptcy attorney will not be taxed on the debt that is discharged in bankruptcy.

Bankruptcy lawyers negotiate with creditors

If you are facing financial distress, you should consider the help of a bankruptcy attorney to help you navigate the complicated world of bankruptcy.

An attorney can negotiate with your creditors on your behalf and help you renegotiate your debt in order to pay off your outstanding balances. Moreover, they can help you come up with payment plans and find new ways to pay your creditors.

Bankruptcy attorneys are experienced negotiators with creditors and can offer you several viable options. These options may include lowering the principle balance of your debts, reducing your payments, and reducing your interest rates. However, before you engage in any of these strategies, it is imperative that you have the assistance of a lawyer and understand federal and state laws. This way, you can make the right decision for your particular situation.

They represent creditors and debtors

Bankruptcy attorneys are skilled negotiators who represent creditors and debtors in various legal proceedings. They focus on reaching a consensus and achieving a corporate restructuring that satisfies all parties. They also have considerable experience litigating contested matters and adversary proceedings.

They seek higher rate or enhanced compensation than comparable non-bankruptcy engagements

The negotiation process is largely secretive and closed-door. Lawyers representing bankruptcy clients usually seek a higher rate or enhanced compensation than their non-bankruptcy counterparts. They may be compensated by the hour or by the case. The bargaining process often involves a bargaining committee composed of union members. The committee is tasked with communicating updates to members and organizing coordinated action around the negotiation.

While a bankruptcy lawyer seeks a higher rate or enhanced compensation than a non-bankruptcy counterpart, they may still provide advice or assistance when an emergency occurs. However, the lawyer must be very careful about the nature of the emergency, as any ill-considered action may jeopardize the interests of the client. If a client does not have adequate representation, a lawyer may agree to act as counsel for the unrepresented party.

If you need an Personal Bankruptcy Lawyer, please call this law firm for a free consultation.

Ascent Law LLC
8833 S Redwood Road Suite C
West Jordan UT 84088
(801) 676–5506
https://www.ascentlawfirm.com

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