There are few things as terrifying as facing the prospect of bankruptcy. People don’t even want to think about it because they know that while they always have access to bankruptcy court, they would instead not use it if they don’t have to. However, you can look at the list of active bankruptcies out there and see that bankruptcy lawyers are getting quite a bit of business almost all the time.
It is not fair to say that all types of bankruptcies are harmful. There are advantages and disadvantages of filing bankruptcy when you nail it down. You see, some people genuinely need access to the bankruptcy courts because they need to get their business taken care of in a manner that gets debtors off their backs. Perhaps they have racked up too much debt over the years, which is a problem, but we shouldn’t look at these people with scorn. Instead, we should try to do what we can to help them out.
Take everything into account and remember that we are all just a few steps away from potential financial ruin if we are not careful. It is easy to see how many people could ultimately end up having to deal with bankruptcy or other financial stress. It is just a good thing that bankruptcy lawyers are available to help as the need arises.
Cases of bankruptcy are all too common here in the United States. As a matter of fact, there are even bankruptcy lawyers who specialize in matters of bankruptcy and bankruptcy alone. And there are many different types of bankruptcy as well, from chapter seven bankruptcy to chapter 11 bankruptcy. If you yourself find that you or your business must file for bankruptcy, the world of bankruptcy can certainly look daunting and even intimidating. It can be difficult to know how to proceed.
Fortunately, there are many legal professionals who can provide a helping hand. Lawyers who specialize in bankruptcy can be found all throughout the country, providing aid to those who are in need of it, often people and businesses who have no experience whatsoever with the process of filing for bankruptcy. These lawyers, for instance, can first of all provide instruction as to what type of bankruptcy should be filed for. Filing for the right type of bankruptcy, after all, will be hugely critical indeed when it comes to the overall outcome of one’s case. Fortunately, there are many different types of bankruptcy, one of which you will likely fit the profile.
Consider, as an example, chapter 11 bankruptcy. Up to 90% of all who file for this type of bankruptcy will fit a very similar profile and there will be easy comparisons that can be drawn between those who file for bankruptcy. These people who file for bankruptcy, this type of bankruptcy, are not bringing in more than $10 million in yearly assets or revenues for themselves or for their businesses. And they also do not have more than $10 million in liabilities. Most businesses – up to 90% of them, as is mentioned above – that file for a chapter 11 bankruptcy also do not have very high numbers of overall employees, keeping the overall employee total to no more than 50 people – and sometimes even far less than this, as a matter of fact.
And important as bankruptcy is, there are many other important legal cases seen throughout the United States. Environmental law, for instance, is certainly one such category. After all, more and more people are growing concerned about the state of our environment, with up to 40% of all people here in the United States alone expressing concern over a variety of issues including radon exposure, volatile organic compounds, indoor and outdoor air quality, as well as issues like carbon and methane emissions, particulate matter, and tropospheric ozone. Other matters of environmental concern are also becoming more commonplace. As another example, more than one third of all counties found in the continental United States are facing the risk of a water shortage within the next few decades alone, a very short span of time in the grand scheme of things indeed.
Fortunately, measures taken by environmental law and pollution liability can make real change here in the United States. For one thing, shutting down even just one single industrial plant is something that can make a big difference in the lives of the people living around it. In fact, such an action is actually likely save as many as 5,000 lives over the course of just one single year – reducing overall cases of cardiac and pulmonary disease as well, something that also cannot be discounted when it comes to the efficacy of measures taken by environmental law professionals.
And still, aside from cases of bankruptcy and environmental law, there are many important legal cases seen throughout the United States. For instance, patent disputes are quite hugely common, as too are cases of personal injury litigation, which can encompass everything from product liability to medical malpractice and car accident cases. Cases of lender liability and consumer credit and even maritime litigation are also more commonplace than you might think. And cases of commercial litigation and antitrust law and cases of intellectual property are also considerable, all handled by professionals trained in these specialties. Ultimately, our legal world is nothing if not incredibly vast and complex, something that can certainly have a huge benefit in the lives of many people.