what to bring to initial consultation with bankruptcy lawyer

by Prof. Orion Stark DVM Published 3 years ago Updated 2 years ago 6 min read

Initial Bankruptcy Consultation – What to Bring

IDENTIFICATION. Bankruptcy law requires that you provide proof that you are who you say you are. Please bring with...
PROOF OF INCOME. Bankruptcy law requires that you provide proof of your average monthly gross income from all sources...
BANKING RECORDS. Please provide monthly statements from your bank, credit...

The most important, mandatory documents to bring to your initial bankruptcy consultation are a list of your outstanding debts and a list of your assets, focusing on major assets, such as houses, cars, boats, trailers, timeshares and the like.Oct 22, 2021

Full Answer

What should I bring to my first bankruptcy consultation?

What Should I Bring To An Initial Consultation With My Bankruptcy Attorney? Your attorney needs to have a basic knowledge of your financial situation, such as the types of debts, the approximate amounts, your annual income, and the assets that you have. If you wish to get started that day, it’s a good idea to bring a retainer.

What documents do I need to file a bankruptcy claim?

Listed below is a more expansive list of documents that you should bring during the first meetings with a bankruptcy lawyer: All financial documents, including bank account statements, receipts for major purchases, wage statements, and tax returns;

What is a bankruptcy consultation?

Initial Bankruptcy Consultation – What to Bring 1. IDENTIFICATION. Bankruptcy law requires that you provide proof that you are who you say you are. Please bring with... 2. PROOF OF INCOME. Bankruptcy law requires that you provide proof of your average monthly gross income from all …

Where can I get a free bankruptcy consultation?

Feb 28, 2018 · The most important, mandatory documents to bring to your initial bankruptcy consultation are a list of your outstanding debts and a list of your assets, focusing on major assets, such as houses, cars, boats, trailers, timeshares and the like.

What questions do they ask for bankruptcy?

Common Bankruptcy Trustee Questions

Did you review your bankruptcy petition and schedules before you filed them with the court?
Is all of the information contained in your bankruptcy papers true and correct to the best of your knowledge?
Did you disclose all of your assets?

What should you not do before filing bankruptcy?

Here are common mistakes you should avoid before filing for bankruptcy.

Lying about Your Assets. ...
Not Consulting an Attorney. ...
Giving Assets (Or Payments) To Family Members. ...
Running Up Credit Card Debt. ...
Taking on New Debt. ...
Raiding The 401(k) ...
Transferring Property to Family or Friends. ...
Not Doing Your Research.

How do I prepare myself for bankruptcy?

The first step to prepare for bankruptcy is to gather proof of your income. Copies of your tax returns and copies of proof of income for the past six months are required when you file a Chapter 7 case. To prepare for bankruptcy under Chapter 7, you must complete the Chapter 7 Means Test.Sep 3, 2020

What does a bankruptcy consultant do?

Representing All Parties in Bankruptcy Disputes

Bankruptcy Trial Lawyers for Interested Parties in Bankruptcy and Adversary Proceedings, including co-owners of property, ex-spouses of a debtor, family members of a debtor, business partners of a debtor and others who may become involved in a bankruptcy.

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

Can I declare bankruptcy and keep my car?

If you file for Chapter 7 bankruptcy and local bankruptcy laws allow you to exempt all of the equity you have in your car, you can keep the vehicle—as long as you're current on your loan payments. And if the market value of a vehicle you own outright is less than the exemption amount, you're in the clear.Aug 27, 2020

Can I spend money after filing Chapter 7?

Spending money willy-nilly after you file for bankruptcy could appear like fraud and upend your court ruling. Courts view spending large sums of money within 90 days of filing for bankruptcy as acting in bad faith or potential fraud, says Matthew L.Jun 4, 2021

What are the 3 types of bankruptcies?

With that in mind, below are details about three main bankruptcy types.

Chapter 7 Bankruptcy. Chapter 7 is also referred to as a liquidation bankruptcy because it calls for most of the debtor's assets to be sold to pay creditors. ...
Chapter 13 Bankruptcy. ...
Chapter 11 Bankruptcy.

Feb 17, 2022

Is filing Chapter 7 worth it?

Chapter 7 bankruptcy is a powerful legal tool in the United States that allows you to totally erase many debts, including credit card debt, medical debt, car loans, and payday loans. Experts estimate that over 39 million Americans have filed for bankruptcy. It's more common than most people think.Apr 1, 2022

How much does a lawyer charge for Chapter 7?

How much does it cost to file for bankruptcy?

	Chapter 7	Chapter 13
Filing fees	$338	$313
Attorney fees*	$500 - $3,500	$1,500 - $6,000
Total	$838 - $3,838	$1,813 - $6,313

What are the differences between Chapter 7 and Chapter 13 bankruptcy?

With Chapter 7, those types of debts are wiped out with your filing's court approval, which can take a few months. Under Chapter 13, you need to continue making payments on those balances throughout your court-instructed repayment plan; afterwards, the unsecured debts may be discharged.Apr 7, 2021

Why is it important to have a bankruptcy attorney?

Because filing for bankruptcy is a complex legal claim, finding the right bank ruptcy attorney is important. A bankruptcy attorney will help you decide whether or not to file for bankruptcy, and what type of bankruptcy you should file. Additionally, if you decide to file, an attorney can help ensure that your property is protected, ...

What happens when you file for bankruptcy?

That way, when you complete your bankruptcy, you will be on the right path to financial recovery.

Why do people declare bankruptcy?

Declaring bankruptcy gives individuals or businesses that are unable to pay their debts a better way to solve their financial problems. It can also help them start rebuilding their credit and lives in a more positive and financially stable way.

What is the difference between Chapter 7 and Chapter 13 bankruptcy?

A Chapter 7 bankruptcy eliminates all of your debt without a repayment plan necessary. While a Chapter 13 bankruptcy takes more time because it requires a structured repayment plan. In order to ensure a quick and efficient bankruptcy you should make sure all the necessary paperwork is filed.

How long does it take to file for bankruptcy?

In total, most bankruptcies take around 4 to 6 months.

Can you rebuild your credit after bankruptcy?

Although there may be an initial lowering of the credit score the debtor will have an opportunity to slowly rebuild it after the bankruptcy is filed. A bankruptcy is public information- A common issue with filing for bankruptcy is that everything filed with the court is public and can be accessed by anyone.

What is a credit report?

A list of your creditors that you owe money, and their contact information, account numbers, and how much money you owe each one; Documents relating to any outstanding loans that you may have, including mortgages,student loans, car loans, or any other loans you might have;

Bankruptcy Consultation Documents: What to Bring to Your First Meeting with Your Lawyer

The most important, mandatory documents to bring to your initial bankruptcy consultation are a list of your outstanding debts and a list of your assets, focusing on major assets, such as houses, cars, boats, trailers, timeshares and the like.

Contact a Bankruptcy Attorney Today for a Free Consultation

If you are thinking of filing for bankruptcy, you are not alone. Lawyers can help you decided whether or not you even need to file a bankruptcy, but if you do, they’ll let you know which chapter would be most appropriate.

What should you bring to your bankruptcy consultation?

Every lawyer is different, but Walker & Walker Law Offices tries to keep things simple for potential clients.

What should you know before your bankruptcy consultation?

The whole purpose of the bankruptcy consultation is to learn whether or not it would be a good idea for you to to file Chapter 7 Bankruptcy or Chapter 13 Bankruptcy.

What else do you need to know?

We have to ask lots of questions and know lots of information to make a bankruptcy work.

CONCLUSION

If you are in Minnesota and have too much debt, Why not call us at (612) 824-4357 and let us figure out together whether it would be a good idea to file bankruptcy or not.

What documents are needed for bankruptcy?

Your financial records are some of the first documents you should collect. These records will help determine which type of bankruptcy is best suited for you. For example, if your financial documents show you have a regular income, your best fit may be Chapter 13 bankruptcy. This may have significant implications because Chapter 13 will allow you to keep possession of your property and pay your debts over time. Financial records include: 1 Most recent bank statements 2 Most recent bills from every creditor 3 Most recent payment coupons for vehicles (leased or purchased), real estate, and student loans 4 Bills or invoices for purchases in the last year 5 Receipts

What are the first documents you should collect?

Financial Records. Your financial records are some of the first documents you should collect. These records will help determine which type of bankruptcy is best suited for you. For example, if your financial documents show you have a regular income, your best fit may be Chapter 13 bankruptcy.

How does bankruptcy affect your life?

It could also have a major impact on your daily life. Filing for bankruptcy can affect your credit and property.

What is pending litigation?

Any legal history or pending litigation involving you is information you'll want to disclose to your attorney. Previous judgments against you show debts that will factor into determining which bankruptcy is right according to your financial situation. In addition, any pending litigation or current court order will determine how much you can afford to pay your creditors at this time.

Why is it important to organize your assets?

A proper, thorough organization of your assets is extremely important to show you have a set income level. This income determination can be essential in proving you can repay your debts over a period of time or in proving a lack of income. Canceled checks for any expense you cannot otherwise document.