what should i ask the lawyer about bankruptcy

What questions should I ask about bankruptcy?

5 Important Bankruptcy Questions (and Answers!)Can Anyone File Bankruptcy?What Kind of Personal Bankruptcy Should I File?How Much Does It Cost to File Bankruptcy?Will I Lose My Property If I File Bankruptcy?Does Filing Bankruptcy Eliminate All Debts?Nov 30, 2020

Why is it a good idea to seek advice from an attorney before filing for bankruptcy?

In some cases, it is best to follow a plan that involves paying down your debt over time. A bankruptcy attorney can help you explore your options and determine if filing for bankruptcy relief is the right choice. For this reason, it is important that you seek out legal advice before filing for bankruptcy relief.Oct 16, 2021

What does a trustee look for in bankruptcy?

Most trustees will compare the information provided in the bankruptcy petition and schedules (the paperwork you file with the court) to other financial documents you turn over, such as paycheck stubs, tax returns, and bank statements.

What happens if you lie when filing bankruptcy?

If you lie, you will get caught. Every bankruptcy case is scrutinized so thoroughly that it's virtually impossible to cheat the system with a lie. And when you get caught, your case might get dismissed, and you could face fines and even jail time.May 7, 2015

Can creditors come after you after bankruptcy?

Debt collectors cannot try to collect on debts that were discharged in bankruptcy. Also, if you file for bankruptcy, debt collectors are not allowed to continue collection activities while the bankruptcy case is pending in court.Oct 25, 2017

What is the downside of filing for bankruptcy?

Disadvantages of Bankruptcy: A bankruptcy may impede your chances of getting a mortgage or car loan for some time. Not all debt will be discharged. Examples of debt that cannot be discharged include child support, alimony, some student loans, divorce settlements and some income taxes.

Can creditors ask for bank statement?

Before you go to court, you'll need to prepare a full financial statement. This is so that your creditor can see whether you can afford to pay back the debt and how much. The financial statement shows in detail: how much money you have coming in.

What happens to your bank account when you file Chapter 7?

In most Chapter 7 bankruptcy cases, nothing happens to the filer's bank account. As long as the money in your account is protected by an exemption, your bankruptcy filing won't affect it.Mar 21, 2022

Does a bankruptcy trustee monitor your bank account?

Your Chapter 7 bankruptcy trustee will likely check your bank accounts at least once during the process of overseeing your filing. They have a right to perform a full audit of your accounts or check them any time it is necessary.

How does a bankruptcy trustee find hidden assets?

The bankruptcy trustees go about finding hidden assets by taking a close look at your debts, as well as doing public record searches, online analysis, tax returns, review reports from former spouses or friends, as well as payroll slips that may show deposits into banks or accounts that you have not listed in your ...Jan 29, 2020

How many times can you file bankruptcy?

Legally speaking, a person can file for bankruptcies as many times as they want. However, the process becomes more restrictive. With a second bankruptcy, you will not qualify for an automatic bankruptcy discharge in nine months.

1. Should I be filing for bankruptcy?

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.

3. Is there anything worrying you about my case?

As previously mentioned, many cases are similar, and since 1977 we have helped over 40,000 families become free from debt.

5. How long will the process take?

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.

7. How will you keep me updated?

We’ll let you know the process, what to expect, and what you need to do next.

8. What are your fees?

Whilst we try and remain competitive, because we know that many people want to utilize our skills and experience in successfully filing for bankruptcy.

10. Do you offer payment plans?

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.

Conclusion

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.

What to do if you are filing for bankruptcy?

If you’re filing for bankruptcy, the right bankruptcy attorney can make all the difference. 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.

What should a bankruptcy attorney do?

A skilled attorney should be able to recommend one or more specific courses of action to you, based on your particular situation, as well as clearly explain bankruptcy procedures in general. They should talk to you about Chapter 7 and Chapter 13 bankruptcy and thoroughly describe the differences between these two paths, as well as the implications for you of choosing one over another. They should also be able to provide a convincing, understandable rationale for any recommendations they offer.

Why do you need an attorney for bankruptcy?

When you have to go to court, it’s likely you’ll want your attorney, as opposed to a paralegal or associate, to accompany you, since your attorney will be more familiar with you and your case.# N#Ask prospective attorneys if they plan to be present for any court appearances you make and what will happen if they can’t attend a particular hearing. Some firms send a different attorney to court when there’s a scheduling issue. If so, get reassurance that you’ll be notified in advance and that the substitute attorney will be well-briefed on your case and able to represent your interests well.

What should an attorney be able to describe?

An attorney should also be able to describe the positive and negative consequences of filing for bankruptcy versus choosing not to file for someone in your particular situation. 3.

What does a good attorney do?

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.

How to communicate with bankruptcy attorney?

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, ...

Do you have to have an oral agreement with a bankruptcy lawyer?

Do not rely on oral agreements when hiring a bankruptcy lawyer. The financial and practical consequences of doing so could be severe. To protect both of you, any attorney you hire should prepare a formal agreement that specifies how much you will be paying and what services are – and are not – covered by this amount.

1. When Should I File Bankruptcy?

Your lawyer can advise you when the best time to file for bankruptcy is. It’s often a good way to enjoy a fresh start and deal with financial troubles. But this is only when it’s done right.

2. What are the Costs involved in Bankruptcy?

Filing for bankruptcy will cost money. You’ll also have fees to pay your lawyer. Be sure to ask these details I’m advance so you can budget sensibly.

3. How Long Will My Case Take?

Everybody wants bankruptcy to be over and done with as quickly as possible. While a lawyer won’t be able to give you a definitive time period, they’ll be able to give you a rough idea how long your case will take. This can let you prepare for the process.

4. Should I Choose Chapter 7 or Chapter 13 Bankruptcy?

If you’re in a position where you want to keep property, perhaps Chapter 13 bankruptcy is the best option for you. With Chapter 7 bankruptcy, you’ll have to give up property to wipe your debt. To find out the best road to go down, discuss this with a lawyer.

5. Is Bankruptcy the right Option for me?

There are often other ways you can deal with your financial difficulties, such as negotiating with creditors. A bankruptcy lawyer can let you know what the best choice is for you.

What Should I Look for in a Bankruptcy Lawyer?

The best way to find a good bankruptcy lawyer is to enquire about their experience. You can ask about their track record when it comes to similar cases. You also want to choose somebody you feel comfortable talking to about your finances.

How do I qualify for Chapter 7 bankruptcy?

In order to qualify for chapter 7, you will need to pass a means test, which is how courts determine whether or not you will be able to pay your debts. The main factor that plays into the results of your means test is the amount of disposable income you earn per month. (To calculate your disposable income, subtract your specific, monthly expenses from your total income per month.) Even if you earn a significant monthly income, you may still be eligible to file chapter 7 bankruptcy if you have a large number of monthly expenses. Your attorney can help you review your paystubs and expenses during your initial consultation.

How long do you have to pay off your debts before filing bankruptcy?

You might remember when tackling the first few questions to ask before filing bankruptcy that filing for chapter 13 means that, instead of liquidating your assets, you are allowed the opportunity to work with a judge to establish a payment plan over three to five years. During that time period, your creditors will not be allowed to continue their collection efforts. If all of your payments are made successfully throughout the amount of time determined by you and the judge, the remainder of your debts will be discharged. While this is an excellent option for individuals who have a mortgaged car or home or other assets that they don’t want to lose to chapter 7 liquidation, planning ahead is essential. You will want to ensure that you fully understand the number of months in your payment plan, as well as the amount you must pay each month.

What happens if you file Chapter 7 bankruptcy?

An asset that is exempt in one state may not be exempt in another, but any asset that you own which is not exempt from seizure will be liquidated if you choose to file chapter 7 bankruptcy. If you are filing for chapter 13 bankruptcy, ownership of non-exempt assets may result in a higher monthly payment plan. Knowing which assets you are eligible to keep in your possession and which ones you may lose in bankruptcy will be informative as you decide on your next steps.

Can I file for bankruptcy if I have credit card debt?

Filing bankruptcy is an undertaking that none of us ever wish to pursue . However, in many cases, it can useful as a last resort for those who find themselves drowning in credit card debts or medical bills. If you are always paying your bills late, or if you notice other signs that it may be time for you to file bankruptcy, ask yourself the following essential questions, first.

How to file for bankruptcy?

First, you can expect your attorney to tell you whether filing for bankruptcy would be in your best interest. If it is, you should also learn: 1 whether Chapter 7, Chapter 13, or another type will help you achieve your financial goals 2 what you can expect during the bankruptcy process, and 3 whether your case involves any particular difficulties or risks.

What to expect during bankruptcy?

Most importantly, if you have any questions, you can expect your attorney to respond to your calls or emails promptly.

What do bankruptcy attorneys do?

Almost all bankruptcy attorneys have specialized software that prepares and files your required bankruptcy paperwork with the court. You'll provide your attorney with all of your financial information, such as income, expense, asset, and debt information.

What type of hearings can an attorney represent you at?

Some common types of hearings you can expect your attorney to represent you at: Chapter 13 confirmation hearings. Chapter 7 reaffirmation hearings, and. any other motion or objection hearings filed by you, your creditors, or the trustee.

What is the mandatory hearing for bankruptcy?

After filing for bankruptcy, all debtors must attend a mandatory hearing called the 341 meeting of creditors. But, depending on your case, you (or your attorney) might need to go to additional hearings. Some common types of hearings you can expect your attorney to represent you at: Chapter 13 confirmation hearings.

Is bankruptcy easy to handle?

Expect Competence From Your Bankruptcy Lawyer. Not all bankruptcy cases are complicated, but they aren't all easy, either. Either way, your bankruptcy lawyer should have the skill level necessary to handle your case. In general, the difficulty of your bankruptcy will depend on: the involvement of bankruptcy litigation.

Can an attorney text you?

Attorneys have the option, but are not required, to send text messages to you. You will receive up to 2 messages per week from Martindale-Nolo. Frequency from attorney may vary. Message and data rates may apply. Your number will be held in accordance with our Privacy Policy.