Many people across the country are finding themselves out of work and in debt. Companies are cutting positions and lowering people’s pay. Credit card companies are charging excessive rates and fees. Consumer prices are at an all time high. This combination of factors often results in a people owing more money than they have coming into their households. Seeing a bankruptcy lawyer can help a person avoid the pitfalls that often accompany debt including adverse credit, repossessions, garnishment of wages,and harassing phone calls from creditors all hours of the day.
Bankruptcy can give an individual a fresh start in life. The different types of bankruptcy available to you will depend upon your income, property, and assets. The two main types of bankruptcy for individuals are Chapter 7and Chapter 11. Chapter 7 is liquidation and Chapter 11 is reorganization. There are other chapters you may qualify for. Gather needed information and documents to make your visit with a bankruptcy lawyer organized and productive. If you forget any piece of information, you may not quality for a legal status due to not having all the needed details of your financial situation.
During an initial meeting, a lawyer will want to know who you are.
He will want to know where you are located and your place of employment. You may have to fill out a questionnaire before your first visit so the lawyer will have all the details he needs to make a proper assessment of your financial situation. Make sure there are no conflicts of interest so your lawyer will be able to represent you without any problems.
There are certain documents to take to your first visit to a bankruptcy lawyer. For your income and assets, include pay statements, brokerage account statements, and bank account statements. Also include information about your cars and any deeds you have to homes or properties. Taking copies of your last three tax returns is adequate. For debts, take recent statements from creditors.
Don’t forget to include judgments against you and statements of any past due bills you owe.
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