a bankruptcy attorney is visiting my class what should i ask

After determining your primary issue, the lawyer will assess whether you’re qualified to file for Chapter 7 bankruptcy or Chapter 13 bankruptcy, by asking questions about your family size, income and assets, the type of debt you owe, and any recent purchases or property transfers.

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What questions should I Ask my bankruptcy attorney?

Jul 24, 2010 · Expect your attorney to ask if you have any nondischargeable obligations. You can prepare by reviewing a list of debts you can't discharge in bankruptcy here. Question 2: Will I lose property in bankruptcy? Bankruptcy lawyers also want to know if you have property you don't want to lose in bankruptcy. Common examples include homes, cars, boats, sporting equipment, and …

Can a lawyer represent you at a 341 meeting of creditors?

Sep 29, 2020 · But it just isn’t realistic to think a salesperson has enough understanding of the pitfalls and exceptions in bankruptcy law, much less should they be offering legal analysis or advice. Your first consult should be with the actual attorney who asks the right questions and understands the possible outcomes.

What do I need to file bankruptcy?

Feb 02, 2022 · Your lawyer should be able to take a look at your pay stubs and bills during your first consultation. They should also ask you if your income may change during the six months or so it takes to complete bankruptcy. If you make under the median amount of money for the size of your household in the state of New Jersey, you will be exempt from the ...

Why hire an experienced bankruptcy attorney?

The answer should be an attorney, not a paralegal. Some law firms will have one attorney handle all the court cases on a given day, and as long as the attorney is familiar with your case, that should be fine. But, you should meet that attorney before you go. It will increase your comfort level just to know a familiar face.

What do you say to a bankruptcy lawyer?

Bankruptcy confidential: 5 secrets you must tell your bankruptcy attorneyAll of your income and financial assets — including retirement plans, legal judgments and every bank account. ... Property you want to protect. ... All of the debt that you have. ... What you're making payments on — and what you're not.More items...

What questions are asked for bankruptcy?

Common Bankruptcy Trustee QuestionsDid 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 happens at a bankruptcy creditors meeting?

At the creditors' meeting, the trustee checks the debtor's identification and asks a series of questions about the bankruptcy paperwork. Creditors who attend can ask about financial matters, although it's rare for creditors to appear.

What do bankruptcy trustees look for?

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.

Does trustee check your bank account?

Please be aware that your trustee does not have access to your personal account. A separate account is opened to manage your bankrupt estate.

How far back does bankruptcy trustee?

Your bankruptcy trustee can ask for up to two years of bank statements. The trustee will look at your statements to verify your monthly payments to make sure they match the expenses you put on your bankruptcy forms.Dec 6, 2021

Is the 341 meeting scary?

Filing for bankruptcy is a scary experience, but within the entire process from start to finish, the 341 Meeting of Creditors is perhaps the most daunting. The idea of coming face to face with people who are trying to collect on a debt is understandably intimidating.

Can a Chapter 7 be denied?

The rejection or denial of a Chapter 7 bankruptcy case is very unusual, but there are reasons why a Chapter 7 case can be denied. Many denials are due to a lack of attention to detail on the part of the attorney, errors made on petitions or fraud itself.May 10, 2021

Do creditors appear at 341 meeting?

The meeting of creditors is a hearing all debtors must attend in any bankruptcy proceeding. ... It is also referred to as a 341 meeting because it is mandated by Section 341 of the Bankruptcy Code. Creditors are not required to attend these meetings, and do not waive any rights if they do not attend.

Do bankruptcy trustees check bank accounts?

The trustee may conduct periodic reviews of your finances, including your business and personal bank accounts, to ensure you have sufficient cash to continue making payments as normal. The trustee also reviews your bank accounts to make sure you're not hiding assets from the court and your creditors.

Can creditors ask for bank statement?

The financial statement also allows the creditor to find out whether you have any equity in your home. ... Before attending the court you'll also need to collect evidence of your financial situation. You'll need all your financial paperwork, such as: bank statements.

Does a bankruptcy trustee come to your house?

The trustee doesn't usually need to visit your house to verify the information you provide to the bankruptcy court. ... So even though it would be extremely unusual for the bankruptcy trustee (the official responsible for overseeing your case) to come to your house, it could happen.Nov 30, 2018

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 will my payments be under Chapter 13?

If you are filing a chapter 13, you will want to ask your attorney approximately what the total cost of your monthly payments will be. An experienced attorney should be able to give you an estimation.

Will I be able to keep my property?

If you own a home or a car, you will want to ask your attorney if you will be able to keep them. They should be able to figure this out based on what kind of bankruptcy you want to file, what you owe, and the value of your property.

What will the total cost of my case be?

You have probably seen many ads on television offering a free consultation with a bankruptcy attorney. Unfortunately, they are not free if you actually hire them. Make sure to ask exactly how much everything will cost all together including the filing fees and their flat fee for representing you.

Do you think I will pass the means test?

If a bankruptcy lawyer is worth hiring, they will be able to tell you if you should file for bankruptcy in the first place. The means test determines if you can file for bankruptcy. Your lawyer should be able to take a look at your pay stubs and bills during your first consultation.

How long does it take to get discharged from Chapter 7?

A Chapter 7 bankruptcy follows a fairly short timeline – you could potentially receive your discharge in a few months. Because Chapter 13 includes a payment plan, the process could last up to five years.

Can bankruptcy be your only option?

Don’t assume that bankruptcy is your only option. A good attorney will take the time to go over your situation from every angle. If it seems like you have other avenues to explore, such as credit counseling, they should explain them in detail. You can also ask about life after bankruptcy to get an idea of how difficult it may be to buy a house, get a personal loan, or rebuild your credit.

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.

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 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 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.

What is a retainer agreement?

In general, your retainer agreement (the contract you and your attorney sign) will outline the services your bankruptcy attorney will provide . Your attorney's job is also to provide you with competent advice throughout the bankruptcy process.

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.

Is filing for bankruptcy a good idea?

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. Not only will you receive legal advice, ...