If you’re thinking about filing for bankruptcy, you probably have a million questions. But which are the right ones to ask? And who are the right people to ask? Here are 4 questions to ask a bankruptcy lawyer before deciding.
Fortunately, law firms like ours specialize in helping people understand how bankruptcy works before moving forward. We’ll walk you through what information you need to gather, what will happen when and the way cases normally proceed. You’ll likely still have questions, though, and we have the answers to four of the most common questions to ask a bankruptcy lawyer!
Based on my situation, should I declare bankruptcy?
You have probably been concerned about your situation for some time, and now you can finally get some answers. In the end, the decision will be completely yours, but an experienced bankruptcy attorney will be able to provide advice. Has your debt situation left you no other choice? Is there another way? Your attorney will help you figure it out.
What are the benefits if I declare bankruptcy?
You are considering bankruptcy for a reason—so you can put your creditors on hold and recover from your financial situation. As soon as you file, you’ll have a chance to breathe after all the struggle and, in the end, you’ll have a fresh start. But it’s a good idea to speak with your bankruptcy lawyer about the specifics of your case, and don’t forget to ask:
What is the downside of declaring bankruptcy?
The downside may not be as bad as you think. The bankruptcy will show on your credit report for either 7 or 10 years depending on which type your file. You may not be able to get loans or credit cards. It may also be hard for you to buy a house or a car. A different question to ask is: will I be better off if I declare bankruptcy? Again, your bankruptcy lawyer can help you figure this out based on the facts in your case.
What will the process be, and how involved will your attorney be?
Depending on your situation, bankruptcy can be very complicated. There will be a lot of information you’ll need to gather, and your attorney will help you through this. Answering the most common questions to ask a bankruptcy lawyer is something they have much experience in. They’ll also complete your paperwork, file your paperwork, attend any meetings with you and make sure you take each step required.
Making the final decision to declare bankruptcy can be a big step. But after speaking with a bankruptcy lawyers, you should feel more confident that whatever you choose, you’re making the right decision for you.
If you’re considering declaring bankruptcy and would like a free consultation with our experienced bankruptcy lawyers, contact us here. We’ll be able to answer all of the questions to ask a bankruptcy lawyer in-depth.