Bankruptcy is a crucial turning point in the lifespan of individuals and businesses. You can save up on a few overhead costs and minimize 100% negative impact on your business if you hire a bankruptcy lawyer. India is a country where debtors going through bankruptcy land up hiring lawyers that provide inferior legal services – due to already having a severe hole in their pockets.

Hiring a bankruptcy law lawyer can equip you with an understanding of what is to come your way. Even better, these lawyers come with the guarantee of a successful filing. You won’t be having your bankruptcy petition dismissed due to mistakes and improper filing for motion. Over and above all, you will have a representative to attend all meetings with creditors and the overall pressure of such situations can be curbed.

Here are 5 wise tips that can help you find the best bankruptcy lawyer in India :

Brainstorm and ask plenty of questions

This could be a subtle test you perform on your prospective lawyer to check how adept are they in bankruptcy law practices. The ones who answer firmly and in detail are clearly well-versed, whereas the ones who react in an evasive tone are the lawyers you must steer clear of. Consider this as an indication of their level of expertise in bankruptcy law.

A few questions you could ask are:

- If I do not have to be in touch with you directly, then who is responsible for managing my queries?
- What are the assured losses of mine that you can minimize?
- How many types of bankruptcy cases have you managed?
- What kind of data will you need access to during filing?
- What are your certifications and how are they related to this domain of law?

Never hire a lawyer with the lowest fee

Bankruptcy is a complex affair. Lawyers with substantial expertise and knowledge can help reduce the severity of such issues. Most businesses filing for bankruptcy go for the lowest charging lawyer due to their wrecked financial state. This can have its own repercussions. Faults in filing papers and thus unnecessary extension of court dates and wastage of time and filing money can easily occur.

Hire a lawyer who has an intricate knowledge of the system and who can give you more than what the average lawyer can. The price may be a little high, but we can assure you it is worth it.

Analyze your local bankruptcy court panels

You should be looking for experience, whether in the past or ongoing, correct? What better place to find this attribute than amongst your local bankruptcy court panels? Those lawyers are usually active and have plenty of projects coming their way. Head over to your local court panel and get some names of court debtors or creditor committees. The lawyers in these committees have created funnels that bring clients eventually to their doorstep for project opportunities.

Thus, you will find someone who is looking for more work and also has no option but to perform all their legal tasks with aplomb.

Procrastinating will only worsen your financial and mental condition

If coming to a conclusion is taking you time then stop procrastinating and take advice from other legal professionals. The pressure can mount over too quickly and you will start to notice several imbalances in life. Even worse, if you prolong to the very end, you may be left with little time that forces you to choose a lawyer in haste.

The whole thought of hiring a bankruptcy lawyer is devastating enough and even professionals shakeup at the thought of such tasks. Sooner the better – this is highly significant in the legal domain.

Use the internet for research and read reviews

Word of the mouth is never enough. Always use the internet to double-check and verify a bankruptcy lawyer’s skills. In case you have a bunch of shortlisted lawyers, make sure you use Google’s search engine to narrow down your choices. The keywords you use will display relevant law firms. Thus if the distance is a factor or fees is a factor, you can include “Nearby” or “Low Fees” in your searches respectively.

One can always access online directories such as Yelp. Yelp helps you filter lawyers on the basis of distance. But don’t solely rely on a lawyer in close proximity. Instead double-check their legitimacy and experience as your top priority.

Once you have come down to a list of 3 or 5 lawyers, perform a final round of thorough research. Access the lawyer’s website and scan their digital presence. You will come across a bunch of reviews from other clients and lawyers. Client testimonials are a good indication of how will you be treated at the law firm. Also, please never be unimpressed by a couple of negative reviews. It is practically impossible to keep everyone happy. You must have experienced this while trying to combat bankruptcy, didn’t you?
Once you partner with a lawyer, you need to stay involved and keep in constant touch with your lawyer. You never know what piece of information when revealed can lead to what outcomes. Last but not least, maintain a strong relationship that is based on trust. As the more clarity exists, the easier it is to work.

Author's Bio: 

Hi, I am Amy Johnes, a legal expert at Ahlawat & Associates - Top mergers and acquisitions firms in India .