A bankruptcy attorney can help you size up your financial circumstances, including how much you owe and what assets you own. Based on this information, they can advise you about whether to pursue a Chapter 7 bankruptcy or a Chapter 13 bankruptcy.
Bankruptcy involves a lot of paperwork, and incorrectly filling out paperwork or turning it in late could jeopardize your case. Look for an attorney who specializes in bankruptcy law or has connections with local lawyers who do so.
Filing for Bankruptcy
The decision to file for bankruptcy is a major life choice, so you want a competent attorney by your side. You can find attorneys who specialize in bankruptcy by looking at your state bar’s directory, which lists members and their areas of expertise. Then, conduct interviews with several candidates to determine who best fits your needs. Ask about their experience and what kinds of professional successes they are most proud of. You can also research the attorney’s credentials, including whether they are a certified bankruptcy specialist or have published articles in legal journals.
A good bankruptcy attorney will take the time to listen to your story and help you understand whether bankruptcy or other debt relief options are appropriate for your situation. Your attorney can also assist you with preparing and filing the required court paperwork. This includes assembling the necessary documents, such as pay stubs and bills. Your lawyer can also help you decide which assets to keep and how to handle collateral or mortgaged property.
Preparing for the Meeting of Creditors
Some meetings can be in person, some meetings of creditors are now held by phone. Please call the number listed on your notice at least ten minutes before your scheduled meeting time.
Meetings of Creditors are not officially a court hearing, but are a formal part of the bankruptcy process where you will meet with your trustee and may have a brief opportunity to speak directly with creditors that wish to do so. Your trustee will ask you questions, under oath, about your assets and why you filed for bankruptcy.
The trustee will also review your financial information and ask you to verify your identity. It is very important to be honest with the trustee and any creditors who attend your 341 Meeting. Lying under oath can have very serious consequences.
Your attorney will prepare you ahead of time to answer any questions that you might be asked at the meeting. This will help you avoid embarrassing mistakes.
Meeting with the Bankruptcy Trustee
Your attorney will help you prepare for the meeting with the trustee. During this
hearing the trustee or a representative of the United States Trustee will review your bankruptcy petition and schedules with you. Creditors and other interested parties may also ask questions. This can include disgruntled business partners and ex spouses looking for information on assets disposed of or misused marital funds. Your lawyer will help you to avoid unnecessary questions by ensuring that the schedules are complete and accurate.
A good attorney will make sure that you bring the necessary documentation to the meeting including an image copy of your driver’s license and social security card as well as any other documents that reflect a financial change since filing your bankruptcy. Plan on arriving about fifteen minutes early to allow for parking and traffic delays. The trustee often has multiple meetings at the same time so it is important that you attend the correct meeting.
Meeting with the Court
Bankruptcy attorneys in Harrisburg PA can ensure that you don’t make any mistakes that could affect the outcome of your case. Even simple errors, like listing incorrect creditors or not properly filling out certain forms, can reduce the number of debts the court discharges.
In Chapter 7 bankruptcy, the trustee holds a meeting of creditors (known as a 341 hearing) about a month after your case is filed. The trustee will question you about the information in your bankruptcy forms and your financial situation.
The meeting of creditors can be stressful, but it’s normally pretty short. It’s important that your attorney prepare you for this meeting so you feel confident and comfortable. A good lawyer will also help you stop wage garnishment, foreclosure and collection attempts from creditors, and they might be able to negotiate a settlement with the creditor. This can save you thousands of dollars. If you’re looking for a good bankruptcy attorney, ask for references and do online research.
