Two Critical Steps For Preparing For Your Consultation With A Bankruptcy Attorney
As asserted by the Internal Revenue Service (IRS), the bankruptcy laws enacted by Congress serve to, among other functions, give honest debtors who are struggling financially a clean slate. A successful bankruptcy process results in a permanent discharge of the collection of certain debts which means a debtor ends up no longer being personally liable for them. Many people who have been burdened financially make the difficult decision to seek out bankruptcy as a means of finding financial relief. And once courageously deciding to take steps to better the future with pursuing bankruptcy, seeking the help of a bankruptcy attorney can be a natural next step. While it is possible to handle a bankruptcy without the help of an attorney, many filers find it extremely beneficial to have an advocate on their side when navigating through the complicated area of bankruptcy law. This process begins with a free bankruptcy consultation during which you will meet with your bankruptcy lawyer for the first time to discuss your financial situation and what you are hoping to accomplish. You should prepare in advance for your meeting with a bankruptcy attorney in order to get the best advice possible.
Prepare to Be Honest
Understandably, many people are nervous about meeting with a bankruptcy attorney and cringe at the prospect of sharing their financial difficulties with someone they just met. Despite how overwhelming the financial consequences of bankruptcy can be, it is well-documented among financial therapists that the mental burden can also be significant and have wide-reaching effects. However, the purpose of having a bankruptcy consultation with an experienced bankruptcy attorney is to learn whether or not filing for bankruptcy would be a good idea for you. The more forthcoming you are despite any embarrassment you may feel, the more that your lawyer can accurately advise you of how you should proceed.
Gather Important Information
You should also know that it isn’t a good idea to go to your initial consultation empty-handed. Not all attorneys request the same information at the first meeting, but every attorney will need to see some basic evidence of the information you have that documents your current financial picture. At minimum, you will need to gather and double check information in advance to ensure that you have a thorough idea of all your debts, including any outstanding credit card balances, personal loans, and medical bills. You should also have a good idea of every source of income you have and your monthly expenses. In addition, make an effort to gather any specific documents that your attorney asks for.
Contact Us Today for a Complimentary Consultation
Having a successful consultation with the right legal team can put you on a pathway towards financial recovery. If you have found yourself in a situation where your debts are piling up and you don’t see any reasonable way out, you should reach out for legal help as soon as you can. As the Plantation bankruptcy attorneys at Nowack & Olson, PLLC, we work with cases like yours every day and we are here to offer help, not judgement. Reach out to us so that we can begin advocating for you today.
Resource:
irs.gov/publications/p908
