10 Questions to Ask Your Potential Bankruptcy Lawyer
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Feb 27, 2020 · 10 Questions to Ask Your Potential Bankruptcy Lawyer 1. Do I Have Other Options? Why Not? Most people tend to go consult a bankruptcy lawyer after they have exhausted most... 2. How Long Have You Been a Bankruptcy Lawyer? The next thing you should do after gauging whether this is someone who is... ...
Jun 19, 2019 · It is important that you ask your prospective bankruptcy attorney how many years of experience they have and how many cases they have represented. You may even want to ask how successful they have been with their past bankruptcy cases.
8 Questions To Ask A Bankruptcy Attorney At Your Consultation 1. Is filing for bankruptcy a good idea for me? A skilled attorney should be able to recommend one or more specific... 2. What are the pros and cons of filing for bankruptcy? You should …
Ten critical questions to ask your bankruptcy attorney before you hire him or her Do I have any non-exempt assets? Each state has created a list of assets considered to be protected or "exempt" from... If I have non-exempt assets, what options do I have? Your attorney must advise you that these ...
Filing bankruptcy is a serious step, and a difficult one for most folks. In addition to being a step most people are very reluctant to take, it is a totally unfamiliar process, too. It can be confusing and stressful.
For example, a Chapter 7 may discharge most or all of your debt, and stop collection activity. A Chapter 13 may allow you to catch up mortgage payments, or restructure other debt.
Some law firms offer a little additional support after the bankruptcy process is completed to help ensure that their former clients are ready to get back on their feet, retain (or regain) stability, and help them with some of the basics like budgeting and building a better credit score.
Like many other branches of the law, bankruptcy mills exist. Other law firms have many clients to work with. And they may farm some of their smaller ones out to be mostly handled by paralegals and assistants. If you want to make sure you’re going to be in the right hands, you will have to be upfront with it.
We know that whilst cases may appear similar, each person’s situation is unique, and so we’ll listen to everything you’ve got to say, and then give you our honest opinion and recommendation as to whether you should file for bankruptcy.
As previously mentioned, many cases are similar, and since 1977 we have helped over 40,000 families become free from debt.
Chapter 7 Bankruptcy typically takes around 3 months, whilst Chapter 13 Bankruptcy usually lasts for 3-5 years as it is a debt repayment plan.
We’ll let you know the process, what to expect, and what you need to do next.
Whilst we try and remain competitive, because we know that many people want to utilize our skills and experience in successfully filing for bankruptcy.
Yes. We fully understand that you’re struggling to pay your bills, and so spreading our costs makes sense to us as well as you.
Now you know what questions to ask a bankruptcy attorney before you choose them, you’ll feel confident that you’re getting the help and advice you need for your financial situation.
A good attorney will put you at ease during a consultation and help you feel comfortable communicating openly and directly. Armed with the right questions, you shouldn’t have trouble finding an attorney who will treat you with respect and put their expertise to work for you in and out of bankruptcy court.
While attorney fees can vary dramatically depending on where you live and how experienced your lawyer is, the attorney fee should generally should include the cost of filing your case in court. Keep in mind that paying less in attorney fees does not mean you will be paying less overall; if you decide to save a few bucks by hiring an inexperienced attorney, you risk having your case delayed or rejected, and you may end up owing more to your creditors.#N#Your attorney should tell you how much you’ll be paying in attorney’s fees and how much in federal filing fees, as well as describe any additional costs you’ll be responsible for. You should know exactly what’s covered by your attorney’s fees, how your attorney will handle it if unforeseen expenses arise, and whether your attorney is open to working out payment arrangements with you if needed.
Some attorneys communicate with clients primarily by email, while others prefer to use the phone. Some like to be accessible after hours, in case a last-minute issue comes up, while others feel more equipped to help clients during regular business hours.
Attorneys are often willing to provide a free initial consultation to help you determine whether the services they offer are a good fit for your needs. Take advantage of these opportunities by asking the right questions. To get the most out of a consultation, prepare ahead of time by identifying what you need to know in order to decide whether an ...
Do I have any non-exempt assets?#N#Each state has created a list of assets considered to be protected or "exempt" from creditor attachment or seizure, and thus, from your trustee in bankruptcy.
If I have non-exempt assets, what options do I have?#N#Your attorney must advise you that these items are non-exempt and guide you through the five possible strategies for handling the non-exempt asset, such as making an offer to the Chapter 7 trustee or liquidating the asset under legally permissible conditions prior to filing.
Do I have any preferential payment issues?#N#A preferential payment is a payment to one creditor at the expense of or in absence of payments to other creditors.
Are any of my transfers in the past two years possible fraudulent transfers?#N#You probably have tried to avoid bankruptcy and in doing so may have had some yard sales or sold assets to raise money to pay bills or even to get by.
Do I pass the means test? In other words, do I qualify for chapter 7?#N#Your attorney should review your income and review your paystubs at the Initial Consultation to determine whether you qualify for Chapter 7 bankruptcy. If your circumstances may change prior to filing, then timing could be an issue to be considered.
How many 707b objections have you handled? What were the circumstances and who prevailed?#N#Most lawyers will encounter an objection to a Chapter 7 case over the course of representing clients in bankruptcy.
If a chapter 13 is recommended, what is the estimated monthly Plan payment?#N#I am astounded that some attorneys fail to provide an estimated Chapter 13 payment at the Initial Consultation.
This is the single most important question you should ask a bankruptcy attorney. If the attorney automatically says yes without asking for specific details about your situation, you are better off continuing your search. A qualified bankruptcy attorney can explain what bankruptcy is and how it can alleviate your specific financial woes.
Benefits of bankruptcy vary from person to person. A lawyer should provide specific benefits of bankruptcy that relate to your situation and should also review the negative aspects of the process. Bankruptcy might be the right choice for you, but there could still be a downside.
Filing for bankruptcy takes time. The process can be confusing, but if you work with an experienced attorney, things go much smoother. Ask your lawyer what steps you need to take to begin the bankruptcy process and ask for a breakdown of the process from beginning to end.
In addition to the cost of filing for bankruptcy, you must also have a clear understanding of your attorney’s rates. Ask for a complete listing of rates and what the initial retainer covers. In most cases, it will not cover certain proceedings that may arise, such as an adversary proceeding filed by an objecting creditor.
Make sure you understand your attorney’s communication method and be sure this method makes you feel comfortable. Also ensure your attorney will be available at the most important times in the bankruptcy process. If you are the type of person who prefers to communicate via phone, but your lawyer prefers email, things can get dicey.