When you feel like you’re drowning in debt you may be vulnerable and looking for a quick way to resolve your financial issues. Enlisting the counsel of an experienced bankruptcy lawyer can help you sort it out. Finding the right attorney for you and your situation is vital to understanding which type of bankruptcy you should file. If you are searching for an attorney or aren’t sure if your current bankruptcy lawyer is looking out for your best interest, there are a few steps you can take to make sure your bankruptcy is handled competently and in a timely manner.
Filing for Bankruptcy
There are several types of bankruptcy, but Chapter 7 and Chapter 13 are the most popular for individuals. Chapter 11 is often an appropriate type for small businesses. Before you jump into determining which type of debt relief will work best for you, make sure you do thorough research on the options that may be available to you.
There are many misconceptions about filing bankruptcy. Some people think it’s difficult to qualify for bankruptcy, that it will destroy their credit, or believe that they may lose everything they own. Do not assume that advice from friends and family or what you read online about filing bankruptcy is accurate. There are state-specific laws and issues surrounding bankruptcy, every case is different, and many issues will be unique to your situation. Consulting with a lawyer who knows the ins and outs of the process is essential.
Is Your Lawyer Looking Out for You?
The quickest path to debt relief is not always the most effective. Unless you are in a dire financial emergency, you likely have time to consider all options to get your finances back on track. A good attorney will present all options to you at the outset, and explain the benefits and pitfalls of each one.
There are a few important things to look for to ensure your lawyer is looking out for your best interest. Does your lawyer:
- Present you with all options available to you?
- Ask about your goals in regard to filing bankruptcy?
- Treat you with respect and listen to your concerns?
- Provide direct, honest answers and solutions that meet your needs?
- Keep you informed about the progress of your case?
While many of the questions your bankruptcy lawyer asks will involve your finances and assets, he or she should ask some personal questions as well, such as:
Are you experiencing any immediate medical issues or needs? If your health is not stable it may be best to wait to file for bankruptcy, but if your financial hardship is due to exorbitant medical bills it may be the best option.
At Carosella & Associates’, our clients’ best interest is a top priority in each and every case. Our knowledgeable bankruptcy lawyers can determine the best option for your situation and help you achieve financial stability again.