If you are struggling to pay your bills and keep food on the table, you have likely considered filing for bankruptcy as a way to eliminate or reduce the debt you are responsible for paying. The circumstances you are experiencing make a difference in whether this is a wise choice or if you have other options to get bills paid and your creditworthiness back on track. Hiring a bankruptcy law attorney is helpful when going through the process. Here is what you can expect when you meet with your attorney.
Remember That Your Attorney Works For You
When you hire a bankruptcy law attorney, remember that they are working for you and not the court system or businesses that you deal with. This gives you peace of mind that all information about your financial situation can be talked about freely and without restriction. Do not hold back and try hiding any information from your attorney. It is their job to help you find a way to pay bills and get your finances handled so you can continue paying your bills without difficulty.
Your Financial Situation Is Discussed In Detail
During your first meeting with your bankruptcy law attorney, you will go through your finances in detail. Bring along copies of all of your bills and any overdue notices you have accumulated. Depending upon the route you take when you file for bankruptcy, these bills are handled by a debt collection service, and the information upon them is needed to ensure payments are collected without delay.
Options Are Discussed And Recommendations Are Made
There are different types of bankruptcy suits to file for. If you have personal assets and you file for Chapter 7 bankruptcy, you will need to relinquish some of these assets in exchange for paying off the debt you owe. If you file for Chapter 13 bankruptcy, you are entitled to keep your assets, but payments are necessary on a routine basis according to a schedule laid out by the court after you go through proceedings. Each has benefits and disadvantages, however; your bankruptcy attorney will talk through the process of these scenarios with you to help determine the proper course of action for your specific case.
Your Bankruptcy Attorney Is There For The Court Process
When you go through the court procedures necessary to successfully be declared officially bankrupt, your attorney is there to speak on your behalf. You will still need to talk to court officials about the reasons you wish to declare bankruptcy, as well as the background for your inability to pay off debt as needed. Your attorney will prime you for this event so you are prepared and ready to answer any questions necessary to lead toward a favorable outcome.