There is nothing as bad as filing for bankruptcy. Bankruptcy is a very delicate issue that has the capacity to destroy the lives of many individuals and render them totally helpless. It is imperative at this point to define bankruptcy and what it means. Bankruptcy which is also referred to as insolvency is a state of inability to repay ones debt owed creditors.
Bankruptcy applies to both organizations and individuals. When it happens in an organization, most creditors will usually file for a bankruptcy petition in a bid to recoup part of the money which the organization or company owes them. The organization responds by seeking the services of a lawyer learned in bankruptcy cases. A bankruptcy lawyer is one who is familiar with bankruptcy law and can defend you against any petition filed by your creditors. Bankruptcy lawyer Toronto are quite expensive and you must prove to them that you can afford their services before hiring them.
The rise in bankruptcy petitions has resulted in an increasing demand for lawyers skilled in bankruptcy. This gave rise to an increase in the number of lawyers who are seeking to make fast money at the expense of debtors who are not knowledgeable, at the same time offering them poor legal services in exchange. It is imperative to make sure that the bankruptcy lawyer which you choose is up an doing and can give you the needed professional help which you need all through the who process.
A few tips which you can use to identify qualified bankruptcy lawyers include the following:
The Law Courts:
A good place to source for bankruptcy lawyers is the bankruptcy court. Take some time off your busy schedule and visit a bankruptcy court to observe and to have a firsthand experience of bankruptcy case proceedings. This will give you an idea of how a seasoned lawyer should conduct a trial when defending his client.
A panel of lawyers:
Visiting a bankruptcy lawyers’ panel is the best way to learn about the most respected and best lawyers. The reputations of the lawyers is paramount to them and you will most likely find seasoned lawyers who deal solely with bankruptcy issues and has lots of experience in it. Paying a visit to the office of lawyers such as Cooper & Co. Ltd might give you some insight to the reputation of the lawyers.
Word of Mouth:
A seasoned bankruptcy lawyer must be well known mostly in the corporate world, hence it is imperative that you ask around and gather intelligence about organizations that have filed for bankruptcy in the past and which lawyer represented them. It is very necessary that you know the outcome such cases. You will definitely get helpful information. Your main focus in your search for a good lawyer that can represent you should be hisadequate wealth of experience.
Most people tend to panic when they are declared bankrupt and will go for the first bankruptcy lawyer that they meet. This is not a wise decision to make because you have to conduct a proper investigation. Such investigation should include doing a thorough background check of the lawyer and should be carried out before making a claim of bankruptcy. This will also give more time to your lawyer to prepare adequately for the case.
Cooper & Co. Ltd.
1120 Finch Avenue West
Toronto, ON M3J 3H7
Tel: (416) 665-3383
Fax: (416) 665-0897