Bankruptcy may be the best thing for you if you are struggling financially. Many people struggle with this because they don’t understand bankruptcy law. That is why it is important for you to hire an attorney. The following is the two most important things that you will have to do before you meet with a bankruptcy attorney.
Prepare Your Documents
There are many documents that you will have to put together before you meet with your bankruptcy attorney. Your bankruptcy lawyer will be able to best assist you if they have an accurate idea of what your financial situation is like. Your tax returns from the past couple of years, bank statements and paystubs from the past few months, letters from your creditors, proof of income, loan balance statements, credit card statements, repossession letters and foreclosure letters are some of the things that you will have to bring to your consultation.
You should also bring a copy of your driver’s license. Make additional copies of everything that you bring to meet with your attorney.
Prepare for Questions
Your bankruptcy lawyer will ask a series of questions in order to better assist you. There are several questions that your attorney will likely ask you. They will ask you if you are married and have children. This is an important question to ask because marriage and children affect your financial situation. They can also affect your bankruptcy case.
They will also ask you how much money you make per year. If you are married, then you will be asked about your spouse’s income. You will be asked about how much debt you have. Additionally, you will asked about your assets.
You shouldn’t just come prepared to answer questions. You will also need to come prepared to ask questions. The questions that you ask can help you get a better understanding of bankruptcy law.
You should ask if there are alternatives. Your attorney will tell you whether the financial situation that you are in warrants the need for bankruptcy. You may be able to make a few changes in your lifestyle and budget. However, if you have severe financial problems, then there may not be another alternative.
You should also ask about the type you should file for. Chapter 7 and chapter 13 have their pros and cons. Furthermore, you should ask about the cost and the potential effects that going bankrupt will have on your credit score.
If you need a bankruptcy attorney, then you can contact Fair Fee Legal Services at fairfeelegalservices.com.
Fair Fee Legal Services
8665 South Eastern Avenue, Suite 101 Las Vegas, NV 89123