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A Guide to Picking the Right South Auckland Lawyers

 

There are many reasons that people need to hire one of the South Auckland lawyers. This can range from a property transaction, writing a will, setting up a business, family issues, and debt recovery. In the current economic climate, debt recovery is a big issue. If your business is being chased by creditors, and you cannot see a way out of your debts and obligations, let us focus on insolvency as one of the main reasons people look for South Auckland lawyers.

 

What Is Insolvency and Why You Might Need a Lawyer?

Insolvency is when an individual or an enterprise cannot pay its debts. This is not the same as not being profitable. If the organisation does not have cash on hand, or sufficient cashflow to pay its debts, then it is insolvent. Continuing to trade in this situation is illegal and the directors can get into serious trouble.

 

Signs You Need an Insolvency Lawyer

Many companies have short-term cashflow issues such as a big unpaid invoice, or a tax bill they had not budgeted for. If these are surmountable, they can often negotiate a payment plan with their creditors while they work though the problem.

 

However, if they or better still, their accountant, cannot foresee a way out of the cash and debt problem, insolvency may be the option.

 

In this case, an insolvency lawyer can help you through the next steps.

 

Key Qualities to Look for in a South Auckland Insolvency Lawyer

The same qualities apply for any form of lawyer, not just insolvency.

 

You want a lawyer who has a proven track record in the type of work that you want. Look for Google reviews to see what other clients think of their skills and service.

 

You also want a lawyer who you can understand. If they cannot translate or explain the legal documents into plain English, you will not fully understand what you are expected to do, or possible outcomes of any action.

 

How South Auckland Lawyers Can Help Your Business

Continuing the example of insolvency, what can you expect from one of the lawyers in the south Auckland area?

 

They might suggest you look at restructuring your business. To many people, this means redundancies but there are other options. For example, debt restructuring and negotiating more favourable terms are two approaches. A good lawyer will also be able to carry out these actions for you.

 

If the financial situation has not gone too far, the lawyer can suggest tactics to protect your personal assets such as your home. These may come under threat during insolvency negotiations. However, it can be a tricky legal area if you take actions to protect assets when it is clear that your business and your obligations there, are in dire straits.

 

Legal Fees and Other Costs

Your legal fees can quickly mount up and when you are already in financial difficulties, you want to be able to manage your obligations in this regard.

 

As the lawyer how they charge, and what they estimate the total cost might be.

 

There might be other costs associated with your situation so get them to explain those too.

 

Taking the First Step Towards Solving Your Legal Problems

There are numerous lawyers in the south Auckland vicinity so picking the right one for you is important. If you follow the guidelines above, you will be able to find a lawyer just right for you. This selection process applies not only for insolvency but any other form of legal help you want.

 

McVeagh Fleming in Manukau city is one of the south Auckland lawyers to consider.