4 Questions To Ask Your Bankruptcy Attorney
Before you file bankruptcy documents, you might want to learn as much as you can about the process. After all, filing for bankruptcy is a major event in your life that has consequences and rewards. If this is something you might want to do, here are four good questions you may want to ask your bankruptcy attorney.
1. How Much Will It Cost?
Bankruptcy can help you with the debt load you have, but it is not free. Instead, you must pay fees. The cost of your case may depend on several things, though, including the attorney you choose and the branch you use. When you meet with a lawyer, ask them this question to find out how much your case will cost. Most attorneys require an upfront payment in full before they will file the necessary documents, but you can ask your lawyer to find out for sure.
2. What Benefits Will You Experience From Filing?
The second thing to learn is the benefits of filing. You will need to know how filing will affect your debts, and the answer depends on the branch you use. If you use Chapter 7 for relief, the court will forgive any debts that qualify for forgiveness. Your lawyer can look at your debts to provide the answer to this question. If you use Chapter 13, you will have to repay your debts over time. There are numerous benefits of Chapter 13, though, including the ability to stop a foreclosure on your home.
3. How Long Will The Case Take?
The next question to ask your attorney is how long it takes to work through a bankruptcy case. The answer to this also depends on the branch you use. If you use Chapter 7, for example, you will likely complete your case in less than one year. In fact, you might be done in only six months. On the other hand, you can expect a Chapter 13 case to take up to five years. Chapter 13 cases are always longer, as they require repayment.
4. What Are The Consequences?
Finally, you might want your attorney to describe the consequences of bankruptcy before you file. The main consequence is the effects it has on your credit, but there might be others, too.
If you have questions like these about bankruptcy, talk to a bankrupcty attorney. An attorney can answer your questions and assist you with filing your case.
