Tips & Advice
Is there followup that clients need to conduct with a bankruptcy attorney?
It is prudent, even after all outcomes have been adjudicated, that clients follow-up with their attorneys to ensure the specifics are known, conditions are met and the client is on the right path toward resolving debts.
What outcomes are possible when working with a bankruptcy attorney?
A common result of bankruptcy filing is a payment plan that is created to eventually discharge the debts that brought you to court in the first place. You should have a conversation with your attorney on exactly what debts you may have discharged, or otherwise reorganized.
Is it mandated to appear in court when working with a bankruptcy attorney?
There are requirements for appearing at different points in the case. For instance, you will need to be present for the meeting with creditors. If the proceeding become litigious, your appearance may be required. However, filers are not often required to appear in court for every step.
What tax, personal, and business documents should I bring to the first meeting with a bankruptcy attorney?
You will need a large amount of documentation, including those that establish your: income, dependents, marital status and work status; previous tax filings; and debts (mortgage, student loans, car loan).
What is the best way to find a bankruptcy attorney?
Searching online for a bankruptcy attorney will often turn up results for attorneys in your area. Also ask attorneys you know if they have any to recommend.
What are the questions to ask when hiring a bankruptcy attorney?
It’s important to ask about the potential outcomes of your bankruptcy case: Whether a debt is canceled entirely or just reorganized. You need to know what assets you might have to forfeit, as well.
In what specific situations is having a bankruptcy attorney helpful?
Bankruptcy attorneys are most helpful when consumers cannot afford consistent and timely payment of bills, when they are called by creditors constantly, or when their debt becomes unmanageable and unsustainable.
What are the advantages of having a bankruptcy attorney?
While bankruptcy filers can choose to represent themselves, the low success rate of such setups stands in stark contrast to that of filings made with professional legal consultation. The intricacies of bankruptcy and its different chapters requires a high and specialized level of knowledge.
How much does a bankruptcy attorney cost?
Generally, geographic area and the complexity of the case will dictate the cost of a bankruptcy attorney, but those seeking such services can expect to pay $1,000 to $1,500 in fees on average.
What does a bankruptcy attorney do?
Bankruptcy attorneys (specifically those who specialize in consumer bankruptcy) will consult with a client to assess financial standing and debt obligations and determine if declaring bankruptcy is in the client’s best interest.