questions you should ask a attorney when filing bankruptcy

10 Things To Ask A Bankruptcy Attorney

1. Should I be filing for bankruptcy? We know that whilst cases may appear similar, each person’s situation is unique,...
2. Are there any alternatives to bankruptcy? Depending on your situation, there might be another way. We’ll discuss the...
3. Is there anything worrying you about my case? As previously mentioned, many cases are...

Full Answer

What are good questions to ask an attorney?

Sep 27, 2013 · The following questions are commonly asked by debtors considering bankruptcy. They may help you in forming your own list to present when you’re ready to contact an attorney. What types of debt does bankruptcy eliminate? Unsecured debts such as credit card debt and medical debt can be wiped out or discharged in either bankruptcy chapter. Which chapter is …

Why should you hire a bankruptcy attorney?

Jun 19, 2019 · What Role Will You Play? Ask your prospective attorney what roles they will play during your bankruptcy case. Many attorneys will have other attorneys from their firm go into court for them. If a different attorney will be going into court with you, that attorney should know your case very well and be available to meet with you before your case.

How to find a good bankruptcy lawyer?

Jul 24, 2020 · To better prepare you for the initial meeting with your bankruptcy attorney, this article reviews some critical questions you should ask before filing for bankruptcy. Do You Have Any Non-Exempt Assets? Florida, like every other state, has established a list of assets that are considered exempt from being attacked or seized by creditors. A bankruptcy attorney can help …

How does someone get the best bankruptcy attorney?

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 ...

What should you not do before filing bankruptcy?

How do I prepare myself for bankruptcy?

What are the downside cons of filing for Chapter 7 bankruptcy?

Should you seek legal advice when filing for bankruptcy?

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

What debts are not discharged in bankruptcy?

Is filing Chapter 7 worth it?

What are 2 potential negative outcomes of filing for bankruptcy?

What is a drawback to declaring bankruptcy?

What are the 3 types of bankruptcies?

How much does a lawyer charge for Chapter 7?

What's the difference between Chapter 7 and Chapter 13 bankruptcy?

Is filing for bankruptcy a difficult process?

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.

What are the benefits of filing for bankruptcy?

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.

Do I have any non-exempt assets?

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?

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?

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?

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?

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?

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?

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.

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 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 do attorneys communicate with clients?

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.

What should attorney fees include?

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.

Why do attorneys give free consultations?

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 ...

1. Which type of bankruptcy do you want to file?

The first questions to ask before filing bankruptcy involve thinking through the details which will influence whether or not you should file for chapter 7 or chapter 13 bankruptcy, the two kinds bankruptcy that can be filed on an individual basis.

2. Which of your assets are exempt? Which are not exempt?

Your lawyer will be able to help you answer this question, but it’s an important one to ask nonetheless. 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.

3. Are the benefits of filing bankruptcy worth the consequences?

Think ahead. This is one of the most important questions to ask before filing bankruptcy. It can be easy to feel like there’s no escape and that filing bankruptcy is your only option. However, there are some debts that cannot be dismissed in bankruptcy, such as student loan debts.

4. How much will you have to pay in order to file bankruptcy?

You may be reading this line again and again in disbelief, a sinking feeling in your stomach, but filing for bankruptcy is, counterintuitively, not free. You will want to consider this question and make thorough inquiries about filing fees when you consider how filing bankruptcy will positively or negatively affect your financial future.

5. If you decide to file for chapter 7 bankruptcy, do you pass the means test?

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.

6. If you do not qualify for chapter 7, or if it is recommended that you file for chapter 13 bankruptcy, how many months will it last, and what will be your monthly plan payment?

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.

7. Are there any specific questions that you have for your attorney?

Your bankruptcy lawyer will want to help you, so don’t be afraid of asking personal or complex questions. With an experienced legal team accustomed to working in bankruptcy court, there is no question too small or too complex.