Questions to Ask Your Bankruptcy Attorney

If you are considering Bankruptcy Attorney Oshkosh, you are not alone. Each year, thousands of Americans are filing for bankruptcy, as they can no longer keep up with their debt on dwindling incomes or unexpected bouts of unemployment. While bankruptcy is difficult to face, it is certainly not the end of the world. If you contact a knowledgeable, qualified bankruptcy attorney, you can get through even the most devastating financial situation without any major hiccups in the process. If you are considering bankruptcy as an option for your family, there are several important things you need to think about first. Start with these questions to open a dialogue with your attorney and learn whether this is the best choice for your situation.

First, ask your bankruptcy attorney about the benefits of choosing to file bankruptcy. Your attorney can explain to you how this will impact your current financial situation and paint a clear picture of what to expect. In turn, you will also need to ask about the consequences of this decision. Beyond hurting your credit rating and making it difficult to get a loan anytime in the near future, how will this impact you? Will you still be responsible for some of your debts? These are things you need to know before you make a final decision.

Second, ask your Bankruptcy Attorney Oshkosh about the differences between Chapter 7 and Chapter 13. There are two different ways you can file and they make a huge impact on your future financial obligations. Ask your attorney to explain this in detail as it pertains to your situation.

Third, ask the bankruptcy attorney if this is truly the best option for you. If you have not yet exhausted all other options from settlements to credit resolution services or even debt consolidation, you might want to slow down and try some of these steps first. Bankruptcy is a huge decision and it will take a great deal of time and money. With this in mind, you will have to carefully weigh the pros and cons to determine if it is right for you.

Finally, ask the bankruptcy attorney about what legal fees you will incur during the process. Beyond the standard filing fees, you will have to pay the attorney fee. You need to discuss this upfront to determine how you will pay for it and whether you will pay the fees all at once or in small installments throughout the process. Keep in mind that bankruptcy is a way out for many Americans, but it is not a permanent solution if you have poor financial habits. Ask your attorney to recommend a financial consultant that can help you set a budget and learn to manage your money so you avoid this situation from ever happening again in the future.

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