Let Your Bankruptcy Attorney Help, They’ve Seen It All
The sad story of the Titanic ocean liner has been in the news recently with the 100 year anniversary of its demise at sea and those that perished with her. How can the sad tale of this ship provide instruction for us today when planning for and filing bankruptcy?
The planning, design and construction of the largest ship of its time took over 3 years.
Even with all that time to prepare, plan and design, even the simplest of details: the lack of an adequate number of lifeboats, was overlooked. Whether this was done against the advice of the designer or done because it was thought that lifeboats would only be needed to ferry passengers back and forth to a rescue ship, depends on what you read. Some think that the over confidence of the ship owners played a part in this defect.
Nevertheless, a lack of adequate thought went into this small detail.
When an attorney is hired to consider filing bankruptcy, always provide all of the information they request. You may think that this or that item is really not necessary, or you may say, “Why in the world would my attorney need that?” Remember, your attorney has likely been practicing bankruptcy law for several years and is using all of that experience, both in and out of the courtroom, to help you deal with your debt situation and provide you the desired result and obtain and discharge of your debt. Your attorney can only do that through proper planning of the case and review of all the requested items. Your attorney will recommend to you when and if you should file bankruptcy.
See also: Preparing for Bankruptcy by Mark Emmett.
Don’t be like the owners of the Titanic and push your attorney to file the bankruptcy too quickly just because you are anxious to file. Listen to your attorney… there may be very valid reasons that it makes practical or legal sense to wait to file bankruptcy. There may be additional documents that are needed so that your attorney can adequately advice you of what will happen to you when you do file bankruptcy.
Bankruptcy can be your lifeboat… but only when done after thought and deliberation by you and your attorney.
Image credit: Jovens Gileade