Handling Adversary Proceedings In A Bankruptcy

The following article covers:

• The importance of hiring an attorney with specific experience in adversary proceedings.
• Implications of living situations on bankruptcy cases, specifically when separated but still living together.
• The legal implications and nuances of Tenancy in the Entirety as a form of ownership in Illinois.

Can Any Bankruptcy Attorney Help Me With My Adversary Proceedings And Why Does It Take An Attorney With Specific Experience In Adversary Proceedings To Handle Mine?

According to the Supreme Court of Illinois, all attorneys in the state of Illinois should be competent to help you with your case. However, it is important to note that competency does not necessarily equate to experience. When it comes to adversary proceedings, it is crucial to hire an attorney who knows what they’re doing. This is because adversary proceedings are legal disputes that arise during a bankruptcy case, and they require specialized knowledge and experience to navigate effectively.

In an adversary proceeding, the process is no different than having a lawsuit in district court. Therefore, if you hire an attorney who knows bankruptcy law but has never defended a case, they might do something wrong procedurally that could cost you the case. It is essential to hire an attorney who knows how to handle a case from start to end, what to do with discovery, what’s okay, and what’s not okay. They should know when to be aggressive and when not to be aggressive, as well as what deadlines are and what happens when you miss them. In bankruptcy court, missing a deadline could mean the end of your case, as the court is not lenient on missed deadlines.

When interviewing potential attorneys to represent you in your adversary proceedings, it is important to ask specific questions to ensure that they have the experience and knowledge necessary to handle your case. You should ask about their experience in adversary proceedings, their success rate, and their approach to handling cases. It is crucial to hire an attorney who gives you hope and who can provide you with a clear understanding of how they plan to handle your case.

What If You Are Separated, But Still Living Together?

If you are separated from your spouse but still living together and are considering bankruptcy, it is important to understand the implications of your living situation on your bankruptcy case. In the state of Illinois, if you are legally married and your house was titled in Tenancy in the Entirety, then every dollar of equity or value is owned equally by both of you.

It is essential to note that joint tenancy, which is a common form of ownership in many states, where the ownership of the property is divided equally, cannot be applied to Tenancy in the Entirety. In Tenancy in the Entirety, the property must have been purchased or transferred when you were not hiding it from creditors.

While this form of ownership offers protection against creditors, it is important to remember that it only applies to joint debts. If you have individual debts, the creditor may still be able to go after the property. Therefore, it is crucial to consult with an experienced bankruptcy attorney to understand your rights and how to protect your assets.

For more information on Handling Adversary Proceedings In A Bankruptcy, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (847) 440-5998 today.