Tampa Bay area based bankruptcy lawyer O. Reginald Osenton warns about what can happen if a lawyer inexperienced in the nuances of bankruptcy is hired to handle your case.
Online PR News – 21-September-2010 – – The idea of a bankruptcy occurring is unsettling enough, but what if you hire a Tampa bankruptcy lawyer who is inexperienced?
According to Tampa Bay Ara / Brandon bankruptcy lawyer O. Reginald Osenton of Osenton Law Office, PA, a debtor’s troubles may only be just beginning.
A potential issue that could complicate a bankruptcy involves bad faith filing. “A debtor can file a bankruptcy but have the bankruptcy court deny the discharge of the debts because the debtor failed to disclose all of his assets or otherwise misled or defrauded the court,” Osenton said.
Bankruptcy filings, if sufficiently botched, can even enter the realm of the criminal. “This is really serious,” Osenton said. “Perpetrating a fraud upon the bankruptcy court can result in loss of discharge and banning from access to the court. In these cases, the debtor is left with no genuine recourse pending resolution.”
“Another common problem that debtors should consider before filing for bankruptcy protection is the effect on co-debtors,” Osenton said. “A co-debtor is anyone that signed with the debtor on a loan. Sometimes a lawyer inexperienced in these matters may neglect to take co-debtors into account.”
Another facet that may not be taken into account involves a poor credit rating – prior to the filing for bankruptcy protection. “The filing of a bankruptcy will definitely be a negative mark on the debtor’s credit report and will remain for up to 10 years. But what if the debtor already has such a poor credit rating that the negative hit of the bankruptcy becomes irrelevant? In such instances, the debtor may actually improve his personal situation by filing bankruptcy, however, an inexperienced lawyer may not realize this,” Osenton said.