Bankruptcy Attorney –Crucial Questions To Ask Before Filing

No one needs an attorney to tell them that bankruptcy is a complicated process. Filing for this by your self can be extremely stressful. So, it is best to have someone who is both knowledgeable and comforting to work with to help you through this difficult time. After finding the best bankruptcy attorney for your situation, here are some questions to ask that will be helpful.

How much will this cost to file? This will depend on what state you live in, but make sure to confirm the amount with your lawyer. If unable to pay the full cost to the court right away, he or she may be able to help set up an installment payment plan. Make a mental note that the fees associated with filing will not include your attorney’s fees.

What number of bankruptcies do you handle per month/year? Knowing how many cases an individual works on regularly will give a clear picture on how experienced and knowledgeable they are. You will want the best help available, so find out how helpful this legal representative is. Also, it is a good idea to ask if your bankruptcy attorney practices in business or consumer bankruptcy, so as to know if they will best suit your needs.

What does this process involve? You will have 180 days to communicate with an approved credit-counseling agency. A lawyer can provide you with information on how to contact these places. This agency will help you come up with a budget and counseling services. They will cooperate with you to work out all of the options available. Upon deciding to file, provide your attorney with a certificate of completion from the agency so he or she can start the filing procedures.

What property will I be able to keep? When filing for chapter bankruptcy, filers are allowed to keep any property that is exempt by creditors under the law. These exemptions will vary depending on state residence. Some states allow for you to choose between their exemptions or those of the federal government. So long as the equity is exempt, you will have the option of holding on to your home and/or car.

Is filing going to take care of my debts? Most debts will be taken care of in this situation, with some exceptions. These can include any penalties owed to the federal government, tax debt, child support, alimony, student loans, and any others that are not included on the bankruptcy petition.

Finding the right attorney to guide you through this financial conflict is crucial, so just know how to best utilize their skills. Make sure this person is someone you will be able to work with comfortably, as additional stress is the last thing anyone will want in this situation. Use this list of questions as a guideline for which topics need to be addressed and clarified. Your bankruptcy attorney will give you the best legal advice, so long as you know how to, ask for it.