When a person is declared insolvent, it is one of the worst things that can ever happen to him/her and one of the outcomes of this can even be bankruptcy which is not pretty and can strip a person of all his/her possessions. When an individual is insolvent, the first thing that he/she should do is to visit a licensed insolvency practitioner in order to get help.
Many people make the mistake and go to people who claim that they would be able to help them out in their insolvency matter but the fact is that these people just claim to be experts and insolvency specialists when the reality is that they have no license, practice or knowledge about the whole matter. If you want to avoid the moment of ‘I hid bills under my bed’ then it is better to a proper insolvency practitioner because only he/she would be able to help you out of this messy situation and make it as better for you as possible so let us look at the steps that you can take to hire the professional practitioner.
Face Your Troubles
The first thing that you need to do is to recognize and own that you are in trouble because you cannot just keep hiding the bills under your mattress, it would lead to your destruction only so you need to face the problems troubling you.
Find a Practitioner
Next step would be to hunt down a practitioner but not just any, find the expert in the field and appoint him/her. Obviously you cannot hire someone who is out of your budget but do not go for a cheap one just because you should save money because only an expert would be able to help you.
As much as we would like to believe that the court has the solutions to all our problems. The laws that the court follows are a lot more complicated than that. The court has to look at every angle of the picture before determining what kind of punishment they should give to defendant. These punishments might not seem all that fair every time. In this case you need a lawyer to help you get the court to look at things from your point of view.
A lot of times the court gives the decision of a punitive damages. This brings the question of what exactly are punitive damages. Let’s take an example to better explain this, if someone were to crash in to your car and ruin it; then that person has to pay you for the damages but in some cases the court files for an additional charge to the damages that the defendant has to pay. This additional charge is used as an example for the others that there are higher consequences to a crime. This additional punishment or damage fund is called punitive damage.
Many a times the court gives the hearing of punitive damages very casually. This is why the defendant has to build a case to overrule this hearing and give the court a side of their story. Punitive damages are often too easily ruled to people who might not have earned them in these cases having a good case can help you rule them out. This way you don’t have to pay the extra sum and just pay the amount you need to compensate for the damages that might have been caused. Having a good lawyer helps with that because they know how to build a case against it.