Meeting with an attorney can be intimidating for just about any type of case. However, it can be even more so when you need to talk to a bankruptcy attorney, leaving you feeling both intimidated and embarrassed because of your financial situation. If you prepare yourself before you go into the meeting, you can feel more comfortable because you will know what to expect. Knowing what types of information the attorney should provide will ensure you leave the office educated so you can make the best decision for you.
Your Options
Many people feel bankruptcy may be their only option because they have mountains of debt and no real way to pay it off. However, not everyone is qualified for certain types of bankruptcy and sometimes there are other options that are better for you financially. When you meet with an attorney, he will look at the information you provide and talk to you about all your options, including bankruptcy.
The Benefits
As you sit with the bankruptcy attorney to discuss your case, you know the biggest benefit of all is not having to pay off the debts you have incurred. However, there can be other benefits to you as well. He will also discuss the benefits of choosing a Chapter 7 or Chapter 13 bankruptcy so you can make the right decision as to which one will best fit your individual situation. He will also discuss your various options within the bankruptcy and their benefits.
The Negatives
Bankruptcy isn’t something that is all benefits. While you will get the financial relief you need and put an end to harassing collection calls, there are downsides to filing for bankruptcy as well. For instance, it will stay on your credit report for years, impacting your ability to get a new credit card or a loan, unless they are fully secured. Your attorney should talk to you about these downsides as well so you can be best prepared to handle the consequences.
Making the decision to file for bankruptcy isn’t an easy one and shouldn’t be made alone. When you meet with a qualified bankruptcy attorney, he will guide you through the process and present you with all your options so you can find the one that best suits you. In addition, he will go over the benefits and downsides of each of your options, helping you make a more informed decision about your finances.
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