Bankruptcy is a process that most people aren’t familiar with, which is why you need an attorney to guide you through the process if you must declare Chapter 7, Chapter 11 or Chapter 13. If you’re beginning the process of bankruptcy or are already in the midst of it, here are some essential questions to ask your bankruptcy attorney.
Questions to Ask Our Experienced Bankruptcy Attorneys
What Type of Bankruptcy Should I File?
Personal bankruptcies fall into three categories, which are Chapter 7, Chapter 11 and Chapter 13. Most people declare Chapter 7, but there are instances where the others are preferable. What you should file depends on your assets, income and debts, and your attorney can help you sort through the choices.
After determining that bankruptcy indeed is an appropriate course of action for a client, this is one of the first questions we at Clark & Washington explore. If you’re curious which of these options would be right for your situation, contact us and a bankruptcy attorney at our firm will review the options with you.
What Fees Will Filing Bankruptcy Involve?
Despite being a legal option for those who have limited or no financial resources, declaring bankruptcy isn’t free. There are court fees that must be paid, and sometimes there are also administrative fees. Of course, your bankruptcy attorney will also need to be paid, but many will work with you to find a suitable payment agreement.
Your bankruptcy attorney can outline the costs of filing upfront, and they can also explain what issues might arise that could increase the cost of filing.
How Long Will Filing Bankruptcy Take?
Your bankruptcy attorney will be able to explain both when your case will be initially filed and how long the entire process ought to take. The time frame for filing bankruptcy can vary some, depending on how busy your local court is and how many cases your chosen attorney already has.
Of course, any estimate your attorney provides assumes that you will provide all necessary financial records in a timely fashion.
Learn More About Bankruptcy
There’s a lot to know about bankruptcy, which is why our bankruptcy attorney is there to help you. Ask us these questions, and you’ll have the most essential details about the process.