Bankruptcy Lawyers in Dubai : Best Bankruptcy Law Firm in Dubai : Legal Firms in Dubai : Top Lawyers in Dubai, Advocates & Legal Consultants in Dubai UAE. Bankruptcy laws are extremely complicated and nearly impossible for the average person to understand.
With the new bankruptcy laws that have been recently put into action, the laws have become even more complicated. This is why it is important to hire a bankruptcy lawyer if you are considering filing bankruptcy. He or she can help you choose the right chapter of bankruptcy for you.
A bankruptcy lawyer specializes in the laws as they pertain to filing bankruptcy. However, not every lawyer is versed in the laws of your particular state. That is why it is very important to go with a local lawyer in Dubai who is familiar with the bankruptcy laws of your state. The laws can be considerably different from one state to another. So make sure that the lawyer you choose not only has experience working in Dubai, but is licensed to work with cases in Dubai as well.
When choosing a bankruptcy lawyer Dubai it is important that you feel comfortable working with him or her. Filing bankruptcy is a very emotional and life changing experience. Therefore, you will want a lawyer that understands what you are going through. An experienced bankruptcy lawyer will know exactly how to handle any of your concerns or fears.
One of the best ways to get a feel for your lawyer is to interview him or her. Be sure to ask plenty of questions so that you have a complete understanding where he or she stands on certain matters. Also, be sure to ask what their success rate is and if he or she has handled cases similar to yours before.
When filing bankruptcy, your budget will be a key element. Therefore, you will want to make sure you have a full understanding of any and all fees your lawyer will be charging. Generally speaking, a bankruptcy lawyer Dubai charges a sizable fee for his or her services. You will be responsible for paying for the actual bankruptcy, which varies depending on what type you file for.
Chapter 7 bankruptcy runs around $300. Then, your lawyer in Dubai will charge approximately $1000 to $2000. If the fee is too high, you will want to consider another lawyer. But keep in mind that legal services are going to cost something, and it may be to your advantage to pay a bit more for an excellent lawyer, rather than paying much less for a bankruptcy lawyer with far less experience.
Picking a reputable bankruptcy lawyer in Dubai is crucial to the outcome of your case. Therefore, you do not want to choose a lawyer at random. Picking a lawyer blindly out of the phone book could have a negative impact on the overall outcome. When choosing a lawyer, ask family and friends for recommendations. Although they may not have personally filed bankruptcy, they may have another friend who can recommend someone. So be sure to ask around.
If you cannot find a personal recommendation, you can check with the Better Business Bureau to see if they have had any negative feedback on a lawyer you are considering. Do not pick out a bankruptcy lawyer at the last minute. Be sure to do some advance planning and research. Otherwise, if you pick a lawyer at the last minute you could end up with a lawyer who is not experienced in the area you need or whom you do not feel comfortable working with.
No one likes to admit that they need help. However, when filing bankruptcy it is essential that you work with a lawyer who specializes in the field of bankruptcy. He or she can help make the overall process a lot smoother and easier. With the laws that are in place today, it is vital that you have an experienced lawyer who has a full understanding of the laws and can help you through the bankruptcy process.
Bankruptcy Lawyers Dubai
Bankruptcy Lawyers in Dubai : Best Bankruptcy Law Firm in Dubai : Legal Firms in Dubai : Top Lawyers in Dubai, Advocates & Legal Consultants in Dubai UAE. Bankruptcy is quite a serious matter and there is nothing worse for an individual or a corporation than having to file for bankruptcy. It can affect many people and ruin their careers and lives and render them completely helpless.
The very word bankruptcy means a legal state of being unable to repay debts that one owes to the creditors. It is also sometimes referred to as insolvency. It can happen to both individual and organizations. Creditors will normally file a bankruptcy petition in an endeavor to recover a part of the money payable to them by the company or organization when bankruptcy happens to an organization.
When it happens to an individual then they get buried in so much debt that they find it impossible to recover from it, and have no other option but to file for bankruptcy.
Therefore, whether it happens to an individual or an organization, it is absolutely necessary to seek the services of a bankruptcy lawyer in Dubai who is well acquainted with bankruptcy law and will be able to shield you against the petition filed by the creditors. The bankruptcy lawyers in Dubai are quite expensive and they will only render their services once you convince them that it is possible for you to bear their fees, and pay them on time.
But since they are expensive and since your entire financial future depends on their expertise you should be careful as to whom you hire and follow some guidelines while looking for a good bankruptcy lawyer in Dubai UAE.
The first step in hiring a bankruptcy lawyer is to look for an experienced lawyer who has the necessary expertise to handle any kind of bankruptcy. Remember that your future is in the hands of this individual who will represent you in the court of law. It is their knowledge and expertise which will determine how your case unfolds in the court and what is your chance of winning the case.
It will be prudent to do some background research before you hire an expensive bankruptcy lawyer. Ask your colleagues, friends, neighbors, or any of your acquaintances who have gone through the same ordeal or knows someone who have required the services of a bankruptcy lawyer. Internet search can also throw back results about the lawyers in your location and their specialties.
Yellow pages can also be a good source from where you can get hold of a lawyer. Any bankruptcy lawyer that is working in your area should be listed there and hence as per your requirements you can get the contact details of such a lawyer. Just look into the bankruptcy section and you will immediately give a list of all bankruptcy lawyers in Dubai area.
Once you have listed the lawyers in your area, it is time for some background checks on the list and then pick one from the list. Through the internet, it is easy to get information on the lawyers and their case histories, their success rate, and client feedbacks. You can also ask for a review on the lawyer you are interested in, by calling up the court and asking them for a review.
You will also be able to check which bankruptcy lawyer Dubai has the majority number of winning cases. Also important is to find out which bankruptcy lawyer has the maximum experience of working in your area and the local court, because that will mean that the particular lawyer will have good rapport with the court officials.
Hiring lawyer in Dubai who has a winning streak but belongs to another state is a bad idea, because laws change from one state to another and a lawyer who is working in another state may not be successful in your state, as he won’t have enough information to fight your case.
A consultation session is a must once you have shortlisted two or three lawyers. You can always cal up and request them to meet you for a consultation session. These sessions are usually free of the lawyers’ billing time. If a lawyer demands money for this session, it will be best to avoid that lawyer.
This session will be the deal maker, and will certainly help you make that final decision regarding which lawyer is best suited to fight your case. The current world is dominated by credit card users, and people fall into debts because it is difficult to keep a check on the spending for most people who enjoy the good life.
But the result can be huge debts which have led to the increase in bankruptcy petitions which in turn has resulted in an increase in demand for bankruptcy lawyers in Dubai UAE. The above tips can be used as a guideline for finding the right lawyer as there are risks for a lay person without any knowledge of legal matters to bump into a money grabbing legal monster who is only interested in making a few extra bucks while offering poor legal services in return.
What Does a Bankruptcy Attorney Do?
There are two different types of bankruptcy attorneys: commercial bankruptcy attorneys who will help you file for bankruptcy for your business, and consumer bankruptcy attorneys who will help you file for bankruptcy for yourself or with your spouse.
Commercial bankruptcy lawyers protect your business from creditors when you are going through a bankruptcy filing. They can also help you clear loans and request time to restructure your business. They include Chapter 7 and Chapter 11 bankruptcy attorneys (more information in the next section).
Consumer bankruptcy lawyers protect you and your partner when going through bankruptcy filing by dealing with creditors, clearing debt, and setting up payment plans. They include Chapter 7 and Chapter 13 bankruptcy attorneys (more information in the next section).
How Do I Know If I Need a Bankruptcy Attorney?
The signs that you may need to consult with a consumer or commercial bankruptcy lawyer are mainly the same:
- Unable to pay your bills
- Constant calls from creditors and debt collectors
- Unsure how to approach debt piling up
- Bounced checks
- No cash flow
- Need representation in court
If your business is struggling, you may want a Chapter 11 bankruptcy lawyer. Your lawyer can help get you time to restructure your business and reorganize your debts to be paid later. However, if you know that you have to close your business, you may need a Chapter 7 bankruptcy lawyer, who will essentially hand over your business to the creditor in return for a cleared debt.
If you personally are filing bankruptcy, you may also use a Chapter 7 bankruptcy attorney if you cannot repay your debt over time. You will be given a financial fresh start in return for some of your personal assets. If you are trying to repay your debt but you just need more time, a Chapter 13 bankruptcy attorney can help reorganize your debts and negotiate a payment plan with creditors.
Do I Need a Lawyer to File Bankruptcy?
Individuals aren’t required to have a lawyer to file for bankruptcy (corporations and partnerships do). Given the complicated procedures surrounding bankruptcy filings, you’re probably better off with a bankruptcy lawyer who can protect your rights as a debtor.
How Much Do Bankruptcy Attorneys Charge?
Typically bankruptcy attorneys will charge by the hour, and will ask for a retainer. A retainer is a fee paid upfront which will then be put toward what you owe the lawyer. Your rates will vary depending on where you live and the category of bankruptcy you decide to file. Be sure to ask up front how much your lawyer will charge.
Some agencies claim to reduce or consolidate debt, but end up costing you much more than you originally owed in the long run. A bankruptcy lawyer will try to consolidate or reduce debt without throwing you even farther into the hole.
What Should I Expect When Working with a Bankruptcy Attorney?
Depending on the type of bankruptcy you file, your debt will either be lowered, erased, or reorganized so that you pay when you’re able to. Creditors would rather get a lower amount of money than none, so they are willing to discount the amount you owe them. If you’re filing for consumer bankruptcy, you may lose some assets and if you’re filing for commercial bankruptcy, you may lose your business. A bankruptcy lawyer will be the best suited to evaluate your situation and recommend the type of bankruptcy you should file, as well as be there to help you through the process.