Bankruptcy may seem a personal and minor unsettling issue for a person dealing with an average firm or individual. But the same problem in the larger picture can be the ugliest of the situation to be dealt with. Several bankruptcy law lawyers have claimed that every person or commercially active legal entity at one point or another themselves in insolvency and bankruptcy court case. The most shocking revelation came forward when the data showed the involvement of legal aids in the form of bankruptcy law firms and lawyers were at the lowest scale.
Insolvency and Bankruptcy law in India has launched a code which clearly states the involvement of professional insolvent or to resolve the time-bound case. Although, people are given the liberty to make choices on their own regarding the selection of bankruptcy lawyers. Perhaps, the main reason behind this is the selection of apt lawyers as finding a competent lawyer these days have become a trial in itself.
In order to be represented in a better fashion and maintain a right eye over your case, it is crucial to seek the right lawyer in matters involving bankruptcy law and legalities. Apart from the better representation, the bankruptcy law lawyer could provide you with the apparent loopholes in the case and could ultimately relief you out of your tough situation.
But, again, the question stands “How to find a suitable bankruptcy law lawyer?”
Well, we cannot give a precise answer to that as the answer varies subjectively. The nature, scope and severity of the case along with the financial condition of the person concerned determines the lawyer best serving his needs. But to cure you out of your dilemma, here are few insights over choosing the best bankruptcy lawyer in India:
CONSULT YOUR LOCAL BAR ASSOCIATION
The local bar association may not provide a lawyer fitting with your choice, but the mouth-to-mouth reference for a fellow lawyer could go a long way. They would offer you with the mobile number or other contact details of the firm or agency of the best bankruptcy law lawyer fit enough for the case of yours. The association would provide you with an expert in the field of bankruptcy law lawyer with equally valuable experience in this field. As bankruptcy is a specialised area and not everyone is well-versed with the insolvency and bankruptcy law, seeking professional help directly from the bar association could further strengthen your case.
PERSONAL REFERRALS
Seek the help of those friends and acquaintances who have tackled the same situation as yours. Ask them for the contact details of the attorneys they have consulted holding the knowledge of insolvency and bankruptcy law in India. Referrals play an essential role in these cases as the person you are taking to not only shares a personal connection but also know the financial adversities you are dealing with right now.
WEB SEARCH PORTALS
There are several surveys and websites over the internet which could provide you with legal help. Such sites also as a list of functioning firms, agencies and individual lawyers sharing expertise in the laws involving bankruptcy law in india under the preferred budget of yours. You can go to these websites and find the aptest legal aid you wish to have. There are several advertisements and surveys by several reputed companies helping your cause. You can make a list of all the bankruptcy law aids they have mentioned and decide your move ahead.
YOUR BUDGET
The fees charged by these bankruptcy law lawyers is generally high as the lawyer holds expertise in this domain. Therefore, knowing that you already are in a tight spot involving the acute shortage of money, you must try your best not to override your budget. The most important thing during the hours of going bankrupt is to keep the remaining bucks in your pocket hence, tally all your needs, demands of the lawyer and your personal expenses and then take the decision judiciously.
COMPARE AND CONTRAST YOUR OPTIONS
After finding a rich and vivid list of all the firms, agencies and individuals, you must make a list of all the probable candidates for assisting you in the battle involving insolvency and bankruptcy law. By doing so, you would get a general idea of what your case needs and then it would be rather easy to make a decision. The choice of your selection is the critical factor separating you and your assets from being demolished.
THE CONNECTION
One of the most important things to keep in mind while choosing the assistance for your case is the connection between the lawyer and you. The only way by which you could make him understand the severity of your condition is by making him aware of all your personal woes. People usually find it challenging to discuss their financial woes in front of a completely random stranger. But in reality, making, the lawyer aware of your condition could further help in making a good start for your case. Therefore, find a lawyer with whom you can establish two-way communication and not being intimidated by their involvement.
Amy Jones is an expert legal advisor working at Ahlawat & Associates, a well-known law firm in India. She is one of the top lawyers in India who loves to help people in all aspects of the practice.