Chapter 7, Chapter 11, Chapter 12 and Chapter 13 Bankruptcies have much in common. Here we discuss the personal bankruptcy options for reorganizations.
At bankruptcy consultation, you must bring:
- List of debts you owe
- Income records: Pay stubs or bank records.
- Tax returns of last 3 years
- List of assets and valuables you own that need to be exempted
- Legal documents, judgments, garnishments, law-suits, etc.
- Home mortgage, property information.
- Car registration information with VIN#, etc.
Question 1: What is a Bankruptcy Consultation?
Answer: A bankruptcy consultation is a meeting with a qualified bankruptcy attorney to discuss your financial situation and explore the various options available to you. During the consultation, the attorney will explain the different types of bankruptcy, the advantages and disadvantages of each, and how the process works. The attorney will also provide advice on how to best manage your debt and financial situation.
Question 2: What Should I Bring to a Bankruptcy Consultation?
Answer: You should bring all relevant financial documents to the consultation, including recent pay stubs, tax returns, and a list of your creditors and the amounts you owe them. You should also bring any documents related to any assets you own, such as a house or car. Having this information will help the attorney provide you with the best advice.
Question 3: How Long Does a Bankruptcy Consultation Last?
Answer: The length of a bankruptcy consultation varies depending on the complexity of your financial situation. Generally, a consultation can last anywhere from 30 minutes to an hour.
Question 4: What Should I Expect During a Bankruptcy Consultation?
Answer: During the consultation, the attorney will ask you questions about your financial situation and discuss the different types of bankruptcy available to you. The attorney will also explain the advantages and disadvantages of each type of bankruptcy and provide advice on how to best manage your debt and financial situation.
Question 5: How Much Does a Bankruptcy Consultation Cost?
Answer: The cost of a bankruptcy consultation varies depending on the attorney and the complexity of your financial situation. Generally, consultations range from $50 to $500.
Question 6: What Happens After the Bankruptcy Consultation?
Answer: After the consultation, the attorney will provide you with a written summary of the advice they provided. If you decide to pursue bankruptcy, the attorney will provide you with the necessary paperwork and guide you through the process.
Question 7: Is a Bankruptcy Consultation Confidential?
Answer: Yes, all conversations between you and your attorney during the bankruptcy consultation are confidential. The attorney is bound by the attorney-client privilege and cannot disclose any information discussed during the consultation.
A bankruptcy consultation can help you understand the process and determine if it is the right option for you. During the consultation, you can expect to discuss your financial situation, the type of bankruptcy that is best for you, and how to proceed with filing. Don’t hesitate to ask questions – a bankruptcy consultation is the first step to a fresh financial start.