The damage may have been done, so to speak, but finding a competent bankruptcy attorney is still crucially important as you bid to get your finances in order once and for all.
This isn’t something that’s just going to affect the here and now; it’s also something that is going to have repercussions for the next decade. Therefore, after you have asked yourself how to find bankruptcy attorneys near me, proceed to list an additional set of questions that you can pose once you’ve found your qualified professional.
We have compiled the three questions that we feel are most essential in this case. Sure, some of you might think that they border on the obvious, but grasp a firm understanding of these answers and your bankruptcy proceedings will feel much smoother. As anyone who may have experienced the turmoil of this situation will testify, this can really make a difference and also help you out in the long-term.
Should you file for bankruptcy?
As you’ve already found your way to this guide, this first question might sound like its bordering on the ridiculous.
However, even though you may feel as though there is no alternative, you might have other options on the table once you start to liaise with your attorney. Some of these options might not just revolve around bankruptcy either, but other refinancing solutions that you might not have considered.
The reason why some attorneys might be reluctant is because bankruptcy is only designed for extreme situations. If you think that your situation might worsen in the future, it might be better reserving the bankruptcy decision until then.
What are the pros and cons of filing for this form of bankruptcy?
In truth, the answer to this question is a follow-up to the previous. It will largely depend on what the attorney has suggested to you, with most options involving either a chapter 7 bankruptcy or a chapter 13.
As such, the pros and cons of each can vary. You need to determine how the decision is going to affect you and your future. Even though it might feel like bankruptcy is rescuing you from a great hole, there are drawbacks and you need to communicate with your attorney to identify these and how your life and future will change as a result.
What is included in the attorney’s fee?
It sounds ridiculous, but so many people approach a bankruptcy attorney without having a clue about what is included in the fees. This is because the whole process is effectively broken into two areas; the work of your attorney, and the fees involved in putting the bankruptcy case through the courts.
Bearing this in mind, you need to make sure that absolutely all costs are covered when work on your case begins. Already your finances are stretched, beyond repair in a lot of cases, so getting all of the fine print smoothed out is essential in ensuring that no hiccups occur in the process.