When You Contact a Chapter 13 Bankruptcy Attorney, Ask These 5 Questions:

1. Do I Qualify to File for Bankruptcy?

Naturally, before deciding what course of action to take during a personal financial crisis, you must become aware of your options.  Contacting local Chapter 13 bankruptcy attorneys is a good start toward becoming informed.  Ask a legal professional to evaluate your situation to see if it meets the legal requirements for filing.

You may feel “stuck” or “doomed,” but it should help to recognize that there are many, many people in your same circumstances, especially in these challenged economic times.  There is no shame in considering your options, and there are good reasons why some people end up deciding to do seek court protection through a Chapter 13 bankruptcy attorney.

 2. What are the Disadvantages and Advantages of Filing for Bankruptcy?

Filing for bankruptcy introduces certain advantages – the most apparent advantage naturally being the relief from unbearable debt and financial stress — but it is by no means a total “free pass” from responsibility.  There are disadvantages, too, such as an impact on your credit score.  However, this disadvantage may pale in comparison to the damage you are doing by simply doing nothing about a seemingly irreparable level of debt.

Obligations will apply and must be fulfilled in order to attain and retain government protection.  A qualified Chapter 13 bankruptcy attorney can explain all of the pros and cons to you and relate them to your particular situation.  This way you will have a real-world grasp on how the process will affect you and your family.  One advantage, though, is the ability to gain a fresh start on the road to reviving financial stability and working to restore a good credit score.

3. What Alternatives to Bankruptcy Should I Consider?

Filing for bankruptcy protection is not always the preferred option.  To avoid the disadvantages of this option, Chapter 13 bankruptcy attorneys will often check to see if you have already tried the preliminary steps that could avoid the need to file.  In certain cases, however, these options will have been exhausted prior to your consultation with a Chapter 13 bankruptcy attorney, or the other alternatives may just not be a match with the condition of your income and debt.

4. How Much Does It Cost to File for Bankruptcy?

Many of the parameters surrounding Chapter 13 bankruptcy protection filing vary by state, and the court fees associated with this process are an example.  This is another question that is good to ask your local Chapter 13 bankruptcy attorney.

Bear in mind that, while there is usually a fee to file, it is worth it in the long run to do anything and everything within your power to come up with the money to pay that fee.  If your Chapter 13 bankruptcy attorney deems filing to be applicable and prudent for you, it will be because the advantages outweigh the disadvantages.  These costs of filing will thus be quite worthwhile both in the short term and long term.

5. What Forms Will I Need To Fill Out to File for Bankruptcy?

The forms needed in order to file also vary by state.  This is another great question to ask local Chapter 13 bankruptcy attorneys when you contact them.  They will know exactly what forms and other documentation you will need for your filing and can even help you understand them as you fill them out.