Tasks of a Chapter 7 attorney Indianapolis

Who is a chapter 7 attorney? Talking about attorneys and lawyer, there are many fields in which they are present in. There is the crime filed, family field and this Chapter 7 attorney Indianapolis is into the field of business. While there are many types of legal proceedings to the business field, this is a bankruptcy claim which is made by a bankrupt person. A Chapter 7 attorney Indianapolis represents the bankrupt person in the court of law.

What does the attorney do? While a person hires him, there are a few tasks which he performs. This article will explain how the chapter 7 attorney will be of use to them. The first task of the attorney is to evaluate all the assets and the liabilities of the concerned person. This is a step performed to check if the claim is true and also to find out how much of the assets are left. The attorney mainly aims to prevent the assets from being auctioned. This is a form of financial support that the court gives to a bankrupt person. While a lay man is unaware of all the legal guidelines, the attorney will know about all this. He will ensure to make the right claims according to the assets which are present with the business. Another aspect which the attorneys as well as the concerned person talk about is the alternate business plan. This is a plan to survive and make the person financially independent. This is required to convince the court of law that the bankrupt person will find alternate means of earning and repaying back the liabilities on his name.

How does the court make its decision? While the business plan is ready and submitted to the court, the court will make a feasibility report of the same before looking into the matter. On the other hand, the chapter 7 attorney Indianapolis will represent the client and explain the business plan on his behalf if the court requires it. Apart from having a good business plan in hand, the attorney should also be experienced in handling the case. This is more important if there are case hearings and the creditors have made claims as well. This is when the case becomes more complicated as there is another party fighting against the bankruptcy claim. Thus, one should select the lawyers and attorneys very carefully from an experienced lot.

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