What To Ask Lawyer When Thinking Of Filing Bankruptcy

When it comes to bankruptcy filing, the process is complex. The bankruptcy laws passed in 2005 makes it harder for debtors to file bankruptcy. More restrictions, a tighter timeline and even requirements for specific testing are all new changes that make it best to hire an attorney to handle your filing. Nevertheless, many people are intimidated by the first meeting with an attorney. One of the key requirements you should have when hiring an attorney to help you through this process is for the attorney to be someone you feel comfortable talking to.

Asking Key Questions

An initial meeting with an attorney is an opportunity for you to learn as much as you can about bankruptcy, even if you are not confident you will be filing. This is also a time to learn as much as you can about the attorney. The following are some questions to ask attorneys about bankruptcy filing.

• What types of bankruptcy can I file? Here, the attorney should explain the options including Chapter 7, total discharge of debt, and Chapter 13, reorganization of debt.
• What property can I keep? The attorney should explain bankruptcy exemptions and talk with you about any excessive property you may own that you could lose.
• How much does bankruptcy filing cost? This should be a discussion about not only the filing fee, but also the fees associated with using the attorney. Some attorneys will set up payment plans.
• Why should I hire an attorney rather than filing bankruptcy on my own? The attorney should explain the intricate process of bankruptcy as well as the stipulations such as the means test and credit counseling requirements to you.
• What will happen to my credit score? Attorneys can give you a good look at what you should expect, depending on the type of bankruptcy you file.
• What will happen after I file bankruptcy? Will everyone know? This question can help to ease your mind. The attorney will explain how to rebuild your credit and go on living a financially secure future, without everyone knowing you filed.
• How long will it take? The attorney should explain the process of bankruptcy filing, including providing an estimate of how long it will take you to work through the process.

Hire an Attorney

There are many questions you may wish to ask an attorney. These are just a few of them. However, hiring an attorney to handle your bankruptcy filing may be one of the best things you do for yourself because it makes the process smoother and reduces the potential problems you could otherwise face without experience.