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An Attorney’s Guide to Filing Bankruptcy

An Attorney’s Guide to Filing Bankruptcy

: Richard West Law Office

termsThere seems to be a common misconception that bankruptcy is a legal process reserved for people without careers or families who are desperate for cash. This negative approach is the product of misunderstanding. When debt is an unavoidable part of life, bankruptcy can be an excellent choice for people from all different walks of life. One demographic that faces an unusual set of questions when considering bankruptcy is attorneys.

Attorneys Can File Bankruptcy

Fortunately, attorneys have the same right to file bankruptcy as everyone else. Debt can be acquired quickly especially when people work in an industry that produces flexible income. Attorneys may wonder if it will be considered unethical if they file bankruptcy. This is not the case. There are no records that indicate any attorneys ever being disbarred for declaring bankruptcy. You should be able to carry on your law practices without issues.

Be Prepared

If you are an attorney preparing to file Chapter 7 bankruptcy, trustees will be skeptical about your assets and will likely poke around for any non-exempt assets. Also, due to the substantial income that many attorneys earn, the trustee will be on a mission to confirm you are filing for bankruptcy honestly and not for the sake of earning a large sum at the end.

Hire a Bankruptcy Attorney

Don’t represent yourself. If bankruptcy isn’t your concentration, hire someone who is an expert. You want to know there is someone representing you who can understand all the codes and rules on a national and local level. Hiring a Dayton bankruptcy attorney will simplify the process and alleviate stress.

No one should be scared of filing for bankruptcy. Debt is stressful for anyone, and bankruptcy is a great choice for those seeking a fresh start.