The Advantages of a Bankruptcy Attorney for Guidance

Posted on: 22 April 2021

When it comes to bankruptcy, acting quickly is often in your best interest. Once the decision is made to take a leap and file for chapter 7, your next move should be to make an appointment with a bankruptcy lawyer. Read on to find out why acting fast is so important and what you can do to get your chapter 7 filing off to a quick start.

Don't Let Punitive Creditor Actions Get to You

You may already realize how aggressive and annoying it can be to cope with creditors. Even when they follow the rules, you can be phoned, emailed, texted, and more until you are completely stressed out. Unfortunately, things can get worse if you continue to fall behind on your bills. Creditors can take you to court and then your wages can be garnished if you don't act quickly enough to file bankruptcy.

Don't Be Embarrassed

Bankruptcy law offices are there to help people like you. You will encounter caring and helpful people when you call and make your appointment. Lawyers and their staff understand how difficult it is to make this big move and they understand how to help you unload your financial burden.

Be Ready With Information

Your lawyer can best help you if you bring certain documents with you to the appointment. Don't worry about exact numbers before your meeting. Your lawyer just needs to get an idea of the scope of your financial situation for now. In most cases, try to provide the following information when you appear at your first bankruptcy meeting:

1. A list of debts – That includes the approximate balances on your credit cards, bank loans, auto loans, mortgage, personal loans, medical debts, etc.
2. Legal actions – If you have been sued, are foreclosed, being threatened with vehicle repossession, have garnished wages, or are subject to liens, bring the paperwork with you.
3. Income information – Your income matters a great deal. If you make more than your state's median income, your lawyer may have some work to do to find deductions that will allow you to file. Bring pay stubs, statements, or other proof of income for the last several months. Joint filers should provide information on all income sources.
4. Taxes – Another important aspect of bankruptcy is taxes. Bring your most recent tax year forms with you.

The above will get you started and soon your financial picture will be a lot brighter. Speak to a bankruptcy lawyer to find out more.