WHY DO I NEED AN ATTORNEY TO FILE BANKRUPTCY?

Bankruptcy is both a very complex area of law, and very broad area of law. One of the reasons we enjoy practicing bankruptcy law (and why we’ve been in business for so long) is that bankruptcy touches on virtually all other areas of law – real estate, estate planning, contract, ERISA, worker’s compensation, personal injury, property, civil procedure, criminal law, family law, and many others. None of our clients presents a simple, textbook bankruptcy case. Every one of our clients is unique, and that means each case is unique. If you own real estate, have or may inherit property, have a retirement account, have ever been injured, have a car or property securing a loan, or are married or divorced, your bankruptcy has the potential to impact all those things.  

Bankruptcy is also in many cases irreversible – once your bankruptcy petition is filed, there may be no way to back out. It can be the proverbial bell that can’t be unrung. What this means is that you need the proper advice and counsel before you file.  

Bankruptcy has its own set of Federal and State laws to understand. Bankruptcy also has its own set of court rules and procedures. In addition, bankruptcy has its own forms and documents, and uses terms that have meanings that are specific to bankruptcy. What this means is that you need the proper advice and guidance throughout your bankruptcy case.  

Bankruptcy is adversarial in nature. When you file bankruptcy, your creditors have rights under the bankruptcy laws and procedures. And more importantly, when you file bankruptcy, the Court will appoint a Trustee to administer your case. This Trustee is an attorney with decades of experience and expertise in bankruptcy law. One of the Trustee’s main duties is to try to find assets – your assets or the assets of others that you’ve had interactions with – that the Trustee can take to use to pay your creditors. Without an experienced bankruptcy attorney at your side, you will be at the mercy of the Trustee who knows the bankruptcy laws inside and out.  

Most importantly, being in debt is stressful, and you want it done right so you can stop being stressed, stop worrying, and move on with your life. In working with Prescott, Pearson & Tande, PA, you can be assured that we will advise you about your case and any issues before you file, that we will stand with you throughout your case, and that we will zealously work for your best interest. We know the laws, rules, forms and procedures. Trustees know us and know the quality representation we have provided our clients and know that our clients’ petitions will be accurate and honest. Prescott Pearson & Tande, PA, has earned the reputation that our clients depend on through more than 40 years of bankruptcy law practice in the Twin Cities. This is all we do, and we do it well.

WHAT ABOUT CHEAPER ALTERNATIVES?

Non-attorneys and companies that sell forms often advertise to help people file bankruptcy cheaply by using free legal forms or online help. If you or a bankruptcy “helper” makes a serious mistake that causes you to lose property or have your bankruptcy petition dismissed, who will pay the price? Will they appear in court on your behalf or advise you on fixing your issues? We regularly get telephone calls from panicked people who tried to do it on their own or got forms online, and need help because their forms weren’t filed correctly or the Trustee is trying to take some action against them. We sometimes are able to help them. Sadly, sometimes there is nothing we can do to help them because the damage is already done – what they thought was a cheap bankruptcy turned out to be a very expensive bankruptcy. At Prescott, Pearson & Tande, PA, we know from experience that it is very foolish indeed for individuals to attempt to file bankruptcy without qualified legal representation throughout the entire process.