what to expect when you talk to a lawyer about bankruptcy

• Disclose all details related to your debts. What to say to your bankruptcy lawyer right off the bat? ...
• Provide information about your income. Every source of income yourself or your family members have must be disclosed in one of the first meetings with your bankruptcy attorney.
• Prepare a complete list of all assets you own. Do you own any real estate? ...
• Give a complete list of all bank accounts you use. No matter how many bank accounts you have and where they are held, your attorney must be fully aware of ...
• With our help, both your information and your case will be safe and sound. ...

Full Answer

What can I expect from a bankruptcy attorney?

Not only will you receive legal advice, but a bankruptcy attorney will handle the paperwork from start to finish. Below are some of the most common types of services you can expect from your bankruptcy lawyer. (Not sure how much you should pay? Start by reading Average Attorney Fees in Chapter 7 Bankruptcy .)

How do bankruptcy attorneys file bankruptcies?

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.

Why do I need a bankruptcy lawyer?

Filing for bankruptcy is a great way to get out from under burdensome debt, and most people feel a tremendous sense of relief when their bankruptcy case is over. But understanding the process and filling out the bankruptcy forms can be daunting. That's where a bankruptcy lawyer comes in.

Is my bankruptcy case difficult?

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.

What do they look at when you file bankruptcy?

The Trustee Will Review Your Schedules 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 gets forgiven in bankruptcy?

Chapter 7 bankruptcy erases or "discharges" credit card balances, medical bills, past-due rent payments, payday loans, overdue cellphone and utility bills, car loan balances, and even home mortgages in as little as four months. But not all obligations go away in Chapter 7.

Should you seek legal advice when filing for bankruptcy?

However, seeking the advice of a qualified attorney is strongly recommended because bankruptcy has long-term financial and legal outcomes. Filing personal bankruptcy under Chapter 7 or Chapter 13 takes careful preparation and understanding of legal issues.

What happens during a Chapter 7 bankruptcy?

Background. A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code.

What debt Cannot be cleared by bankruptcy?

Other Non-Dischargeable Debts in Bankruptcy 401k loans. Other government debt such as fines and penalties. Restitution for criminal acts. Debt arising from fraud or false pretenses.

Will bankruptcy clear all debt?

Bankruptcy doesn't cover all debts so it's important to make sure you know whether any of your debts won't be covered and put plans in place to deal with them. You might need to: keep paying some debts while you're bankrupt. stop paying some debts, but start paying them again when your bankruptcy ends.

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.

What are the do's and don'ts in bankruptcy?

Don't take any cash advances. Do not make any major cash advances off of credit cards prior to filing for bankruptcy. A creditor can object to the discharge of debts incurred as cash advances before filing.

What are the do's and don'ts of bankruptcy?

Don't run up debts immediately before filing bankruptcy. Incurring debts prior to bankruptcy could result in those debts not being discharged. Worse yet, the court may deny your bankruptcy altogether! Don't use a non-attorney "bankruptcy preparer" unless you have completely researched all relevant legal issues.

What do you lose when you file Chapter 7?

A Chapter 7 bankruptcy will generally discharge your unsecured debts, such as credit card debt, medical bills and unsecured personal loans. The court will discharge these debts at the end of the process, generally about four to six months after you start.

How soon can I purchase a home after filing Chapter 7?

During a Chapter 7 bankruptcy, a court wipes away your qualifying debts. Unfortunately, your credit will also take a major hit. If you've gone through a Chapter 7 bankruptcy, you'll need to wait at least 4 years after a court discharges or dismisses your bankruptcy to qualify for a conventional loan.

How much do you have to be in debt to file Chapter 7?

Again, there's no minimum or maximum amount of unsecured debt required to file Chapter 7 bankruptcy. In fact, your amount of debt doesn't affect your eligibility at all. You can file as long as you pass the means test. One thing that does matter is when you incurred your unsecured debt.

What debts can be forgiven under Chapter 7?

What Debts Are Discharged in Chapter 7 Bankruptcy?Child support.Alimony.Student loans.Some tax debt.Homeowners association fees.Court fees and penalties.Personal injury debts you owe due to an accident while you were intoxicated.Unsecured debts that you intentionally left off your filing.

What is not dischargeable in Chapter 7?

Additional Non-Dischargeable Debts Certain debts for luxury goods or services bought 90 days before filing. Certain cash advances taken within 70 days after filing. Debts from willful and malicious acts. Debts from embezzlement, theft, or breach of fiduciary duty.

What do you lose when you file Chapter 7?

Permanent debt relief in the form of a bankruptcy discharge. Filing Chapter 7 bankruptcy wipes out most types of debt, including credit card debt, medical bills, and personal loans. Your obligation to pay these types of unsecured debt is eliminated when the bankruptcy court grants you a bankruptcy discharge.

Which of the following debts could possibly be forgiven under Chapter 7 bankruptcy?

Most consumer debt is dischargeable in bankruptcy. Chapter 7 bankruptcy wipes out medical bills, personal loans, credit card debt, and most other unsecured debt.

Can I get free help with my bankruptcy case?

Yes, nonprofit legal services offer help to low-income people who either need an attorney to represent them in a bankruptcy case or are handling a...

How long does a bankruptcy stay on your credit report?

A Chapter 7 bankruptcy can stay on your credit report for up to 10 years, while a Chapter 13 bankruptcy may remain on your credit report for up to...

What types of debt can’t be included in a bankruptcy case?

Among the types of debt that can’t be discharged—meaning you’re no longer legally required to pay them—are most student loans, most taxes, child su...

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.

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 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.

Using a Bankruptcy Attorney

It may feel counterintuitive to pay attorney's fees for help with your financial crisis. But professional assistance can mean the difference between a setback and a total loss when you have serious debt issues.

Choosing Your Attorney

You will want to meet with any attorney you consider hiring to see if you and the attorney can work together in general.

Questions Your Lawyer Will Ask About Bankruptcy

To do the best possible job on your behalf, your attorney needs your input and cooperation.

Documents Your Bankruptcy Attorney Needs

Once you hire an attorney to assist with your bankruptcy case, it is important to provide the information they need to best advise and represent you.

What does a bankruptcy attorney ask you?

A bankruptcy attorney will ask you why you're considering filing for bankruptcy and determine whether filing for Chapter 7 or Chapter 13 bankruptcy will help you solve your financial problem.

Why do people show up in bankruptcy lawyers?

Most people show up in an attorney’s office because they need help with one of a small number of problems— and the attorney will be aware of this pattern. For instance, when a bankruptcy attorney asks you what prompted you to call, it’s likely that you’ll say that your debts are piling up and that the stress is becoming unbearable. But you could be facing one of the following situations, too, and if you are, the lawyer will want to know about it because it will require quick attention:

Why do people show up in an attorney's office?

Preparing for the Attorney’s Questions. Most people show up in an attorney’s office because they need help with one of a small number of problems— and the attorney will be aware of this pattern. For instance, when a bankruptcy attorney asks you what prompted you to call, it’s likely that you’ll say that your debts are piling up and ...

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.

Do I need a copy of my Social Security card to file bankruptcy?

a copy of your social security card. Most lawyers will ask you to complete a lengthy bankruptcy questionnaire, as well. If you can, get it before your meeting and bring a completed copy with you.

Your Bankruptcy Consultation

Your initial consultation with an experienced Indiana bankruptcy attorney typically lasts about 40 to 60 minutes. The attorney will ask many questions about your income, assets, and debt. Due to the nature of a bankruptcy filing, these questions are personal but necessary.

Preparing for Your Consult with an Indiana Bankruptcy Lawyer

You’ll get the most out of your consult if you go prepared. The more accurate information you can give your Indiana bankruptcy attorney, the better they will be able to understand and assess your situation. Don’t bring all your bills and financial documents to your meeting.

Schedule a Consultation with an Experienced Indiana Bankruptcy Lawyer Today

Sitting down with a bankruptcy lawyer to discuss your financial and legal circumstances doesn’t necessarily mean you will file bankruptcy. It means you are gathering information to make an informed and educated decision. Whatever issues you face in life, it’s always wise to research and understand all of your options.

Bankruptcy Can Be a Difficult Time for You

Fortunately, bankruptcy lawyers understand what a difficult and emotional time this can be for clients. They know that many bankruptcies are often caused by circumstances beyond your control, like a job loss or downsizing, major medical issues, divorce, or other sudden changes in your financial picture.

What to Expect at a Consultation with a Bankruptcy Attorney

At the Law Office of David A. Bhaerman, we typically set aside 60-90 minutes for the initial consultation with a potential client. We ask you general questions about your debt, your income, and any assets you may have to help build a financial picture of your situation.

How to Prepare for the Initial Bankruptcy Consultation

During the initial consultation, it’s important that you provide as much accurate information as possible, so that we may properly assess your situation.

The Best Way to Contact a Bankruptcy Attorney

An initial consultation with a bankruptcy lawyer doesn’t mean you’ll automatically file bankruptcy. It’s important to communicate your situation with us, with as much detail and completeness as possible so we may help you make the right decision on whether or not to file bankruptcy. The Law Office of David A.

Bankruptcy Attorney Near You

Of course, there are many more reasons to hire a qualified, experienced bankruptcy attorney to help you navigate the murky financial waters of a personal bankruptcy case. These ten reasons are pretty compelling, especially if you’ve never handled anything like this yourself.

What does a bankruptcy attorney do?

You bankruptcy attorney will help you navigate the intricacies of the means test, will determine what exemption scheme is available to you and help you decide how to apply those exemptions. Your bankruptcy attorney will review your situation to identify any potential land mines, and should be there with you when you go to court, ...

Do bankruptcy lawyers charge more?

Well, yes and no. An experienced bankruptcy lawyer might charge you a higher fee than someone who has little or no experience. But he might save you a lot more money if he prevents a mistake, or identifies a potential problem, or a way to make bankruptcy relief more comprehensive. And that really is the bottom line.

Preparing For The Attorney’s Questions

• Most people show up in an attorney’s office because they need help with one of a small number of problems—and the attorney will be aware of this pattern. For instance, when a bankruptcy attorney asks you what prompted you to call, it’s likely that you’ll say that your debts are piling up and that the stress is becoming unbearable. But you could be ...

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Gathering Your Documents

Preparing Your Questions

Questions For Your Attorney