Here at Haysom Law we offer a free consultation to clients who are contemplating bankruptcy. We wanted to give you some guidelines on how best to prepare for that consultation, what you should be asking, and what factors might impact your bankruptcy case.
Use this step by step guide to make your meeting as productive as possible, so that you walk out of it ready to tackle your debt once and for all.
Get Your Paperwork Together
In order for your bankruptcy meeting to be productive you will need to have your entire financial situation laid out for your lawyer’s review. Gather up all of your monthly bills and expenses, your bank statements, your tax statements, and your bills. Make sure you can list out every debt that you owe.
Now’s a good time to open any mail you’ve allowed to pile up so you can track down collection agency debt and other debts you may have been ignoring simply because you couldn’t do anything about them anyway. Pull your credit report at freecreditreport.com so you can be sure you’ve found everything.
If you’ve sold or transferred any property within the past year then you’ll need to bring that paperwork as well. Bankruptcy cases can be all about timing. Be ready to tell your lawyer about any big purchases you’ve made. Sometimes certain financial moves can derail your case, and you and your attorney will need to work out a strategy.
Consider Your Goals
What property do you absolutely want to protect? Is it your home? Your car? Your retirement fund? Do you mind moving? Could you make your house payment if all the other debts were taken care of, or is it likely to be too much for you in the future?
Considering your goals can help your attorney help you choose the right bankruptcy chapter. It’s not the only question that will need to be considered, but it is one of the more important ones.
Prepare Your Questions
At a minimum you should ask:
- How to handle your finances throughout the bankruptcy process.
- What property you can expect to see exempted.
- What the structure of your legal fees will look like, and what your options are for paying them.
- Who the direct point of contact will be on your case. The point of this question is you want to make sure your case is being handled by an attorney, not by paralegals.
You’ll also want to ask any other questions that are on your mind, worrying you, or bothering you before taking the final step.
Bankruptcy can be one of the most positive things you do for your financial life, but it’s imperative that you come prepared.
Are you ready for your free consultation? Reach out to Simon Haysom, LLC today.
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