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Don't Be In The Dark About Our Legal System

Hello, I'm Karla Mitchell. Going through a legal case can be very expensive and challenging. I won't go into details, but I recently underwent my own legal battle that lasted several years. It is finally over and I successfully received a settlement, but I had to spend so much time studying law in order to play my role in my own court case. While I found a great attorney at one point, I felt completely lost initially and I don't want anyone else to experience the same thing. So I decided to create this blog for those who would like to know more about law.


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Don't Be In The Dark About Our Legal System

What Should I Bring When I Meet With A Bankruptcy Attorney?

by Andrew Martin

If you're considering filing bankruptcy, it's a great idea to sit down with a bankruptcy attorney to discuss your various options. The bankruptcy process can be a little intimidating, but it will be less so if you go into your initial meeting prepared and organized. Being organized upfront can also save you money on lawyer fees, since your attorney will need to spend less time hunting down specific financial information.

Here are five things you should get together before your meeting with your new bankruptcy attorney, in order to help that first meeting go as smoothly and efficiently as possible:

Detailed List of Debts

As your bankruptcy will be focused on eliminating as many of your debts as possible, it's critical that your attorney have a clear and accurate picture of all of your debts. List out each debt in a document or spreadsheet that can be updated here and there as needed.

Be sure to include debt amounts, how many payments you've missed and the month and year for those missed payments, and the legal name, address, and phone numbers for each creditor. You should also include loan amounts or credit limits, as well as interest rate information.

List of Assets

While your debt situation is very important to your potential bankruptcy case, so are any assets you have. These include cars and homes that are owned outright, as well as expensive personal belongings such as jewelry, home furnishings, or electronics.

Inventory your belongings and make as detailed and accurate a list of the items as possible, including how much you paid for them (you can estimate if needed) and when they were purchased. If you happen to have receipts for any of your assets, it's a good idea to include those as well.

Recent Pay Stubs

Your bankruptcy attorney will need to know how much money you earn on a monthly, as well as an annual, basis. Bring along at least your most recent pay stub, which will also provide your attorney with the employer information they will need should you go forward with the bankruptcy process.

If you do in fact decide to proceed with the bankruptcy process, you will most likely need six months of back pay stubs. While you don't technically need these for your initial meeting, if you are fairly certain you are going to proceed with bankruptcy you may decide it's worth the extra effort to track those down now to save yourself and your attorney time later.

Any Letters from Creditors

Bring copies of any letters or other recent documentation you've received from creditors. These may include settlement offers, attempts to collect the debt in full, and letters threatening to pursue legal action.

This correspondence will help give your bankruptcy attorney an accurate view of where your debts currently stand, which will help them provide accurate guidance regarding whether bankruptcy is your best option or not.

Real Estate Information

Generally speaking, real estate is protected from bankruptcy if you file Chapter 13, but vulnerable to loss if you file Chapter 7. Your attorney will be able to explain this to you in detail. If you own any properties, either fully or as part owner, you will need to bring documentation.

At a minimum, bring a list of properties, mortgage information, date of purchase, and amount owed. You will need copies of the actual mortgage agreement and deed should you decide to proceed with bankruptcy.

Ideally, you will organize this documentation in file folders or a notebook to make it easy for your attorney to quickly look through the items. By bringing these items with you to your meeting with your bankruptcy attorney, you can help ensure a successful and productive meeting.

Visit http://wfactorlaw.com to learn more.