In these uncertain times, and there are always uncertain times, it is best to be prepared. Anything can happen, and although people plan to sustain, they must also be alerted when necessary so that we are all prepared. One of the things people never wish for is bankruptcy, but that too is something that needs to be planned for so that it can be overcome. But how can someone be prepared for bankruptcy? Knowledge is king in everything, so here are some important questions to ask when hiring a bankruptcy lawyer near me so that you are able to make the best choice out of the bankruptcy lawyers in your area.
If you are considering this big step, then you very likely have some specific questions that are unique to your situation. Keep those questions in mind, write them down and take them with you. Don’t hesitate to ask them in the meeting that you have with any of the bankruptcy lawyers near me that came up in your search.
Is this the right decision?
This is an important question, especially if you do not know the ins and outs of bankruptcy law. Deciding whether or not to file and which type of bankruptcy protection to file is the reason why you are googling ‘bankruptcy lawyers near me.’ It is important to choose the right lawyer to help you make the right decision. Do you and the lawyer agree that this is the best thing to do, and on what the next steps are from here?
Chapter 7 or Chapter 13?
There are two types of bankruptcy. In Chapter 7, the filer loses any property that isn’t exempt under the law. The bankruptcy lawyer can advise as to what those exemptions might be in your area. These are usually home equity, car, clothing, or other necessities that can return you to work. You may lose anything that you own otherwise in return for having the debt wiped. Chapter 13 bankruptcy doesn’t take anything and instead gives you time and a schedule to pay off the debt. Ask the bankruptcy lawyer near me for advice on these options.
What happens next?
After you file for bankruptcy, then what? You will want to have a clear understanding of how long the process will be and what you are going to need to produce to make your situation better right now. The bankruptcy lawyer will work with you to appraise the creditors of your situation and get them to back off. The bankruptcy lawyer near me will help you understand the length of time that this can be expected to continue, and how you will be at the end of the process.
You will also want to know about what may go wrong and what else is needed from you before you proceed. In addition, be sure that you ask about and understand the legal fees that you will incur during this process. When you choose a bankruptcy lawyer near me, you are choosing someone to fight for you and be on your team. Be sure that you and the bankruptcy lawyer can get along and work together to find the solution that is right for you.