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How to Maximize Your Bankruptcy Consultation

How to Maximize Your Bankruptcy Consultation

August 31, 2018
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By: Jamie Harris

If you are considering filing for bankruptcy relief, the first step is to set up a consultation with an attorney.  For most people, meeting with an attorney to discuss financial issues can be an intimidating process.  To ensure you get the most out of your consultation, you need to be adequately prepared to discuss your finances.  You should sit down and prepare a monthly budget and bring that to the consultation.  Also bring a copy of your most recent tax return with you.  You should also compile a list of all your creditors so the attorney can complete a conflict check if you would like to retain them.  It is very helpful to provide a list of assets and to bring copies of any lawsuits or judgments with you to the consultation.  If you have any unique assets or are expecting an inheritance, you should disclose that at the consultation.

As mentioned before, this process can be overwhelming and nerve wracking, so having a prepared list of questions with you for the attorney can help ensure you get all your questions and concerns addressed. Specifically, you will want to ask questions about what type of bankruptcy you may be eligible for and what exemptions are available to allow you to retain property. Another good question is about the length of the bankruptcy process and what documents are needed in order for the bankruptcy to be filed. You should also inquire if the attorney charges a flat fee or an hourly rate for services and what services are included or excluded in a flat fee rate.  You should always have your engagement agreement in writing if you want to retain a bankruptcy attorney. You should also keep your contact information up to date and provide the preferred contact method. Bankruptcy can be an overwhelming process but finding legal counsel that best suits your needs and addresses your concerns can make your case go more smoothly.

About DelCotto Law Group

DelCotto Law Group is Kentucky’s asset protection law firm known for its commitment to the lifetime success of its clients. With offices located in Lexington, Louisville and Danville, DLG serves Kentuckians with complicated financial matters, especially in the areas of bankruptcy, complex litigation, and estate planning. For more information about filing bankruptcy or DelCotto Law Group, please call (859) 231-5800 or email info@dlgfirm.com.