Seeking a Second Opinion if You Are Considering Bankruptcy

Just like patients sometimes seek second medical opinions, seeking a second opinion when dealing with a legal matter can be a wise decision. Legal matters can significantly impact people’s lives. A second legal opinion can make a difference and help prevent negative consequences. As bankruptcy attorneys, it is not rare to receive inquiries from people who have been told that bankruptcy is a good option for them or people who have been told it is not a good option for them and need a second opinion. In this article, we discuss the meaning of a second legal opinion, why you might need a second opinion if you are considering bankruptcy, how to get a second opinion, and the possible outcomes of a second opinion.

Understanding the Meaning of “Second Legal Opinion”

After receiving legal advice from a bankruptcy lawyer, you may seek advice from another lawyer. The advice you will get from the second bankruptcy lawyer is called a second legal opinion. The second lawyer will analyze your situation independently and then provide their view. Usually, people seek a second legal opinion to gain a new perspective on the legal issue, explore other legal strategies, and confirm the advice received from the first lawyer.

Bankruptcy is a highly factual intensive area of the law, that requires a detailed review of your particular assets, household income and expenses.  It should also review whether it is in your best interests to elect federal law or state law exemptions to protect your assets.  Whether you have non-exempt assets may impact your decision whether to even file bankruptcy, or whether a Chapter 13 bankruptcy would protect your non-exempt assets from being liquidated in a Chapter 7 case.

The attorney should review any potential challenges to you filing bankruptcy, such as your eligibility for a Chapter 7 under the Means Test as to whether you are an under median debtor.  If you are an over median debtor (meaning your annual income exceeds the median household income for your state/region), what possible deductions you could make in the Means Test in order to qualify for a Chapter 7 case.   Your attorney should review any of your risks of filing bankruptcy, including whether you could be subject to any Bankruptcy Court Litigation by any creditors.

When Should You Consider Seeking a Second Legal Opinion?

Are you considering bankruptcy and have been told that bankruptcy is or is not the right option for you? Are you feeling uncertain about this legal advice? If this is your case, it may be a good idea to seek a second opinion. If you are concerned with the legal advice your initial attorney gave you, it may be a good idea to have another attorney analyze your situation and give you their opinion. If you are concerned that you may be eligible or not eligible for bankruptcy, yet you have been told otherwise by an attorney, you should consider seeking a second legal opinion. Or did an attorney tell you that you are eligible for Chapter 7/13 bankruptcy, yet you believe you do not qualify for this type of bankruptcy? Another lawyer’s second opinion may prove beneficial.

How Do You Get a Second Legal Opinion in a Bankruptcy Case?

If you are considering bankruptcy and need a second legal opinion, the first thing you need to do is find an experienced bankruptcy attorney. To find the right attorney, you can seek recommendations from friends and family members, research online, or check bar association websites. Once you find the right lawyer, provide them with all the necessary details about your situation. The attorney will then evaluate your situation and offer you their professional advice.

Potential Outcomes of a Second Legal Opinion

Firstly, the second attorney may confirm that the first attorney’s advice is appropriate. For example, they may confirm that you are not eligible for bankruptcy or bankruptcy is not a good option for you. Secondly, the second attorney may offer you a contrasting opinion. For instance, if the first attorney told you that you are not eligible for bankruptcy, the second attorney may find you qualify for bankruptcy. In a situation where the second attorney offers a different perspective, you want to be cautious about how you proceed. If need be, you can consider seeking a third legal opinion.

Contact a Lehighton & Carbon County Bankruptcy Attorney

Are you considering bankruptcy and need a second or third legal opinion from a qualified bankruptcy attorney? Contact our Lehighton & Carbon County bankruptcy attorney at Adam R. Weaver, Esq.