Bankruptcy attorney Michael Hines says that you should not file a lawsuit against a bank.
Hines, who is not a lawyer but works with his clients in the bankruptcy and bankruptcy-related areas, says it is important to remember that when a bank is filing for bankruptcy, it is only a filing for a court order to stay the proceedings.
If a bank has already lost money, it does not need to go to court to stop the bankruptcy process, Hines said.
Hires, not lawyers, are the primary people that you want to speak with if you are looking to sue a bank, said Hines.
Hins says if you have a bank that is in bankruptcy, you should contact the bank directly to make sure they are complying with the bankruptcy law.
The bank can provide you with a letter of support, but Hines cautions that you can also file a civil action against the bank.
If the bank fails to respond, the only thing that will make you feel good about filing a lawsuit is that you are getting help, Hins said.
Read more about bankruptcy and lawsuits in Bankruptcies.
The bankruptcy law is not very clear on how you file a complaint, so Hines advises you to make a list of names and contact information for each bank you think you may be able to contact to get in touch with the bank’s general counsel.
Once you have that list, contact that bank’s representative to see if you may have a chance of getting a hearing in your case, Hine said.
He said if you do not have a good case against a specific bank, Hains recommends filing a class action lawsuit in your state or federal court.
Hymes said there is a very strong case to file a class-action lawsuit against one of the big banks in your home state, but he also recommends filing it in a federal court where the law is more favorable.
Hains said you can ask your bank to settle or agree to a settlement with you, and if the settlement is good, he will recommend it to the bank for a decision, Hymes added.
“A settlement is just a legal document that says that the bank has paid a certain amount of money and they have agreed to settle the matter,” Hines added.
If you do file a claim against a particular bank, you can do so by filling out a form.
The filing fee is $150 and you should have your case filed by March 31, 2018.
Bankruptor Mike Hines of the Bankrupt Claims Department says you should file a bankruptcy case against any bank that you think may be insolvent.
Hine is the author of the book, The Bankrupts Way: How to Get Out of Debt, Make Your Life Better, and Save Your Family Money.
You can read more about Bankrupt.gov, the bankruptcy site, on National Geographic’s website.
You may also want to watch a short video about the bankruptcy filing process below.
