what questions should i ask my 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 items are non-exempt and...
• Do I have any preferential payment issues? A...

Full Answer

What are good questions to ask an 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 …

Why should you hire a bankruptcy attorney?

Jun 19, 2019 · There are many bankruptcy attorneys out there that are licensed today, but not all are created equal. It is important that you ask your prospective bankruptcy attorney how many years of experience they have and how many cases they have represented. You may even want to ask how successful they have been with their past bankruptcy cases.

How to find a good bankruptcy lawyer?

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 ...

How does someone get the best bankruptcy attorney?

Jan 18, 2022 · If you’re just starting your bankruptcy journey, it’s important to work with the right attorney and ask the right questions. Here are 5 key questions to ask your attorney. 1. What information do you need to get started on my case? Your attorney is going to need a complete list of your debts: credit card, student loans, medical, personal, mortgage, car – all debts you owe.

What questions should I ask bankruptcy lawyer?

If you're looking for a bankruptcy attorney, getting answers to these five questions will help you make the right choice.Should I file for Chapter 7 or 13?Will I erase all of my debt?Can I keep all of my property?What does the bankruptcy process involve?How much will filing for bankruptcy cost?

What questions should I ask about bankruptcy?

Here are five questions to ask yourself before you start the bankruptcy process.Chapter 7 or Chapter 13? There are two types of personal bankruptcy: Chapter 7 and Chapter 13. ... Can you afford it? ... Will it actually help? ... Can you qualify for bankruptcy? ... Will you be able to live with the effects for years to come?

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.Sep 30, 2021

What are some good questions to ask an attorney?

In Order to Move Forward With Any Lawyer, First Ask These Ten QuestionsHow Long Have You Practiced Law? ... What Types of Cases Do You Manage? ... Who's Your Typical Client? ... How Many Similar Cases Have You Taken On? ... What Kind of Special Training or Knowledge You Have Outside Your Law Degree? ... What Are Your Fees and Costs?More items...

Is debt relief better than bankruptcy?

Bankruptcy frees you from debt collection, but the headaches can linger for years. Debt settlement without bankruptcy can take more time but — if negotiated properly — can do less damage to your credit. Debt settlement stays on your credit report for seven years, but has less negative impact on your credit score.

What is the means test for Chapter 7?

The bankruptcy means test determines whether you're eligible for Chapter 7 bankruptcy. The bankruptcy means test determines who can file for debt erasure through Chapter 7 bankruptcy. It takes into account your income, expenses and family size to determine whether you have enough disposable income to repay your debts.

Should I close my bank account before filing bankruptcy?

What you'll want to do is open checking and savings accounts at a bank that doesn't service any of your debt and use the new account for banking purposes before filing bankruptcy. Again, you don't need to close other accounts—leave them open and report all accounts when filling out your bankruptcy paperwork.

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.Feb 6, 2021

How far back does a bankruptcy trustee look?

two yearsYour 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

How do I prepare for an attorney interview?

If you are interviewing virtually, all of these tips apply.Do your research. Lawyers are known for being good researchers. ... Be presentable and dress your best. ... Come prepared to ask questions. ... Be personable and show enthusiasm. ... Be genuine. ... Promptly send a thank-you note.Oct 28, 2020

How do you answer a lawyer question?

Listen carefully to the questions you are asked. If you don't understand the question, have it repeated, then give a thoughtful, considered answer. DO NOT GIVE AN ANSWER WITHOUT THINKING. While answers should not be rushed, neither should there be any unnaturally long delay to a simple question if you know the answer.Apr 22, 2015

How do you answer a law question in an interview?

Below are some common legal interview questions—plus suggestions on how to approach them.Tell me a little about yourself. ... What attracted you to our firm/organization? ... Can you describe a challenge or conflict you have faced at work and how you overcame it? ... What is your biggest weakness? ... Do you have any questions for us?Mar 20, 2021

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 lawyer recommend?

A professional lawyer will recommend other options too, different courses of options you can opt according to your cases’ situation. The attorney will tell you about your situation and the consequences you might face during the process. They should be more understandable and rational with the consultation they provide and have to be convincing.

What are the different types of bankruptcy?

There are two types of bankruptcies for individuals, Chapter 7 and Chapter 13. The attorney should be able to tell you the differences between them and suggesting to you which one is most suitable for your case.

What is the importance of filing through an attorney?

A crucial factor is a clarity about the money required to file through an attorney as it depends on the type and complexity of the case. According to your case, the lawyer should tell you what situations might lead to higher fees.

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.