Author Box
Articles Categories
All Categories
Articles Resources

What A Corporate Bankruptcy Attorney Can and Cannot Do For You?

February 12, 2012 | Comments: 0 | Views: 143

Bankruptcy' is a very broad term. There are different kinds of bankruptcies. It is a very complicated and wide area of the law. There are many federal and local rules and regulations governing bankruptcy as a result. For example, an individual can file for personal bankruptcy on their own. Businesses and corporations must have the representation of corporate bankruptcy attorneys when they file as stipulated by federal laws. As a result of the different types of bankruptcies and the differing laws that they all have, there are different kinds of bankruptcy attorneys. Bankruptcy attorneys are specialized in this field. A corporation cannot hire a normal lawyer to represent them during their corporate bankruptcy filing. When a corporation employs the services of corporate bankruptcy attorneys they must be aware of the capabilities and limitations of these attorneys as stipulated by law.

For example, bankruptcy fraud is a crime. Bankruptcy fraud includes things like falsification of documents, omissions, lies etc. Any corporation that hires the services of a corporate bankruptcy attorney must be completely honest with that attorney and must provide him or her with all or any of the documents and information that the attorney request. Note that there are random audits performed by the government on bankruptcy cases. And because the attorneys and judges are experts in this field, they will be able to tell if there are any inconsistencies or cover ups. Similarly, a corporation cannot request that their lawyer be dishonest on their behalf while representing them in their file for bankruptcy. Though they work under and for the law, they are not beneath the law and they too can fall under the hammer. Be wary of any lawyer that suggests anything that is unethical or illegal.

Corporate bankruptcy attorneys are not allowed to represent individuals who are filing on behalf of the corporation. They are representing the interests of the corporation as their name clearly indicates and not the owners themselves. This is because owners cannot file for bankruptcy in their personal capacity on behalf of their companies. Corporate bankruptcy attorneys are permitted to assist companies even when there is no need to file for bankruptcy. For example, you can hire a corporate bankruptcy attorney on a retainer basis for your company. The attorney will be able to advise you on a regular basis as to how you can avoid having to file for bankruptcy in the future.

Similarly, if you do find that your company may need to file for bankruptcy, a corporate bankruptcy attorney will be able to look at your case and make the necessary recommendations. Remember, their role is to assist you through every step of the process and not just when it is time to file for bankruptcy. Before they begin the process of filing on behalf of your company, they should be able to advise you whether there are any other viable solutions available to you. Deciding to file for bankruptcy is not a decision that should be taken lightly. As a result, a good lawyer will first try to find ways in which they can assist you without filing. Filing for bankruptcy should be a last resort.

The corporate bankruptcy attorney will be able to protect the company from the harassment or repossession of creditors during the process of filing for bankruptcy. Debtors enjoy certain rights under the law, and while the bankruptcy proceedings are happening (which is not done overnight), the bankruptcy attorney will be able to take steps to protect the debtors from the creditors until the proceedings are complete.

About the Author: The Bankruptcy Attorney will definitely help those people if they have filed for bankruptcy so that, the common people do not get over burdened with the debt which will be impossible for them to pay back. Click here for Bankruptcy lawyer

Source: EzineArticles
Was this Helpful ?

 
0
 
0
 
Rate this Article
 vote(s)
Feedback
Print
Re-Publish

Article Tags:

San Diego Bankruptcy Attorney

,

Bankruptcy Attorney San Diego

,

San Diego Bankruptcy Lawyer

The 3 Month Payday Loans is most suitable options for the people who do not possess assets. There are a variety of loan options for the people who are willing to pledge assets against the cash

By: Cameron white l Finance > Personal Finance l July 09, 2013 lViews: 561

For many people, bankruptcy can make their world fall apart. The apparent loss of reputation coupled with the inability to take financial decisions can deter anyone from thinking clearly. But all is

By: noragwilt l Finance > Bankruptcy Lawyers l November 18, 2012 lViews: 304

If you are availing payday loans with monthly payments, it is easy for you to obtain quick money from online lending companies.By getting the best deals of loan, you can save money in terms of

By: Malen Cheks l Finance > Loans l November 16, 2012 lViews: 289

Loans online have become the popular source of income and people can make smart decision of taking it.Now, don’t go anywhere and sit in your home silently. Such deals would bring you money without

By: Marsh Jone l Finance > Loans l November 13, 2012 lViews: 288

Loans for the unemployed would let you feel comfortable with your unstable conditions due to jobless period.If you compare the rates of a few lenders, you would definitely get the suitable lender to

By: kelse roy l Finance > Loans l November 13, 2012 lViews: 467

By taking cash advance for bad credit, it is easy for you to improve your credit status. This loan is useful to relieve financial stress. This loan is totally free from credit verification and

By: Honard Nork l Finance > Loans l November 09, 2012 lViews: 301

For many people, bankruptcy can make their world fall apart. The apparent loss of reputation coupled with the inability to take financial decisions can deter anyone from thinking clearly. But all is

By: noragwiltl Finance > Bankruptcy Lawyersl November 18, 2012 lViews: 304

Some business men want to take the easy way out and make as much savings as they can. It's only natural that they would want to do so. The economy is not in the best shape and every business has to

By: Ram N Kumarl Finance > Bankruptcy Lawyersl April 20, 2012 lViews: 175

Now that April 15 has come and gone, just about every American should have filed their taxes. People who are employed will usually get a refund. For those that are buried under a mountain of credit

By: Bob P Jonesl Finance > Bankruptcy Lawyersl April 20, 2012 lViews: 178

Financial crises are taking the world by storm. Many businesses have had to declare themselves bankrupt and shut down operations, because they found themselves in an acute liquidity crisis. This

By: Ramya A Krishnal Finance > Bankruptcy Lawyersl April 19, 2012 lViews: 159

Capital concerns are at their peak in today's time. Most businesses have taken precautionary measures for themselves and have hired a bankruptcy lawyer to handle their finances and legal matters

By: Ramya A Krishnal Finance > Bankruptcy Lawyersl April 19, 2012 lViews: 167

Bankruptcy can basically be defined as, when a person or entity cannot pay owed creditors. Once a person / entity reach such a financial position, it has to file for bankruptcy. Obviously, the first

By: Ramya A Krishnal Finance > Bankruptcy Lawyersl April 19, 2012 lViews: 186

For businesses facing imminent closure due to heavy debt, it is well worth their time to consult a business bankruptcy attorney. It is a well known fact that more than half of new businesses fail

By: Rahul N Bajajl Finance > Bankruptcy Lawyersl February 12, 2012 lViews: 121

The recent economic recession has forced many people to turn to bankruptcy lawyers to find ways of keeping afloat. Spikes in interest rates coupled with rising consumer prices, and the resulting

By: Rahul N Bajajl Finance > Bankruptcy Lawyersl February 12, 2012 lViews: 117

If you are facing bankruptcy you are probably experiencing severe financial problems. The last thing you want is to incur more expenses. You may be thinking that you would not even need a bankruptcy

By: Rahul N Bajajl Finance > Bankruptcy Lawyersl February 12, 2012 lViews: 120

Individuals who have to file for bankruptcy can do so without the services of a bankruptcy attorney. However, federal law stipulates that businesses cannot file for bankruptcy without the services of

By: Rahul N Bajajl Finance > Bankruptcy Lawyersl February 12, 2012 lViews: 100