The 7 mistakes people make when they hire an insolvency lawyer

If you’re not sure whether you need to hire an insolvency lawyer or not…it probably means you do. And if you decide you need to hire an insolvency lawyer it’s essential you give yourself the best chance of success. 

Here are the 7 most common mistakes people make when they hire an insolvency lawyer.

1.They don’t choose an expert

Think about it, you wouldn’t ask your dermatologist to perform brain surgery or your dentist to deliver your baby.

And yes, your family lawyer or conveyancer can provide you with expert, up-to-date and invaluable advice…

…if you need advice on family law and conveyancing.

When you are potentially facing insolvency or bankruptcy the stakes are higher and you don’t want to risk losing your business or your family home just because you went to the wrong type of lawyer.

2. They leave it too late

2. They leave it too late

When your world feels like it is collapsing all around you and you can’t see your way out, burying your head in the sand and hoping it will go away is a common reaction.

Well, guess what?

The problems don’t go away…they will only get worse the longer they do nothing about it.

Sadly, we’ve seen cases where by the time clients approach us their legal proceedings have already come and gone… cases where we could have defended the matter or even secured a deal.

3. They don’t disclose all the relevant information

Often people hold back information because they’re ashamed or worried about being judged. Unfortunately, without all the relevant information your lawyer can’t provide the right advice. And in the hidden information always comes out in the end.

In order for JHK Legal to best defend your interests we need to know about all aspects of your financial situation.

4. They don’t contact us immediately

4. They don’t contact us immediately

Do you realise you only have 21 days to respond to a Statutory Demand before a ‘Wind Up Notice’ is issued?

And once your company has received a winding up notice you will have very few options left.

A liquidator will close your company, call-in all director’s debts and personal guarantees. And your company file becomes public information.

Sometimes clients risk it all because you didn’t come to us sooner. At JHK Legal we can help buy you time, increase your options and potentially help save your business, your future and your house.

5. They shop around for advice

Lots of people shop around until they hear the advice they want to hear. They are trying to find an easy solution to their financial situation – a short-term solution that avoids any pain.

Unfortunately, these short-term solutions are actually anything but pain free because they never provide a workable long-term solution for problems and experience shows they usually end up magnifying the seriousness of the financial situation.

Our highly experienced insolvency lawyers at JHK Legal won’t necessarily tell you what you WANT to hear but we will tell you what you NEED to hear to achieve the best possible long-term solutions for your situation.

6. They try to save money on legal advice

When you are struggling to pay your bills it might seem like the logical option is to save money wherever you can.

But trying to save money by not getting experienced legal advice is actually counterintuitive, and can end up putting you in a far more serious financial situation… which ends up being a very expensive mistake to make.

7. They skip legal advice altogether

People think they can deal this with this situation on your own, without any professional help. But if they are not aware of all your options how can they possibly make the best decision?

And if there’s one thing even worse than skipping legal advice altogether… it’s thinking Google is a good alternative to a qualified, experienced lawyer. Because unfortunately, Google is no more a lawyer than Google is a doctor, a vet or a plumber.

Learn from Other’s Mistakes

Learn from Other’s Mistakes

Our highly experienced team at JHK Legal team know the right questions to ask you, and we also know to find the best solutions for your situation.

We’ve seen the mistakes other clients have made before coming to us and now you too can benefit from the hindsight of their experience.

If think you might need to hire an insolvency lawyer… Learn about how we work with you or contact us for a free initial consultation