If you are considering filing for bankruptcy, you will likely have a lot of questions for your attorney. Factors such as fees, the type of bankruptcy to file, the time frame, etc. should all be explained to you. It is important that you understand the bankruptcy process and that you ask the right questions before selecting your bankruptcy attorney.
Below is a list of important questions you should ask your bankruptcy attorney at your initial consultation:
Should I file for bankruptcy?
Bankruptcy is not for everyone. The first question you should ask your attorney is whether bankruptcy is the best option for you. Your attorney should thoroughly explain to you how filing will affect your current situation, as well as steps to take moving forward.
Which type of bankruptcy should I file?
If bankruptcy is indeed the best option for you, your attorney will need to determine which type of bankruptcy to file. The two most common types are Chapter 7 bankruptcy and Chapter 13 bankruptcy. One of the biggest differences between the two is that Chapter 7 works toward discharging all or most of your debt, while Chapter 13 works toward a manageable re-payment plan. Discussing your options with your attorney will help you better understand which option is right for you.
What will it cost to file for bankruptcy?
It is important to get an estimate as to how much it will cost you to file for bankruptcy. Ask your bankruptcy attorney to provide the cost for your case as a total, including all attorney fees, court fees and additional costs which may be incurred. Many bankruptcy attorneys offer manageable repayment plans for their clients.
How long will the bankruptcy process take?
Ask your attorney what the expected time frame will be for your bankruptcy case. You should find out important information such as when your case will be filed, details of the bankruptcy process, and when you can expect to receive a complete discharge of your debts.
Are there concerns that will affect my bankruptcy case?
Full disclosure with your bankruptcy attorney is crucial to making sure your case is handled properly. If you had instances in the past that may later come up as a “red flag” during your bankruptcy case, ask your attorney about them. These instances can include the possible “gifting” of an asset to a family member, making a large purchase far beyond your means or receiving an inheritance. These can all affect your bankruptcy eligibility and should be discussed with your attorney at your initial consultation.
For more information on how to best prepare for your initial consultation with a bankruptcy attorney, please visit: http://timothykingcade.com/?p=4234.
At Kingcade & Garcia the consultation is FREE and the relief is REAL! If you are in a financial crisis and are considering filing bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.
Source:
http://blogs.findlaw.com/law_and_life/2014/01/5-questions-to-ask-a-bankruptcy-lawyer.html