Questions to Ask About Bankruptcy
I meet with many clients before they file bankruptcy. After I explain the basics of bankruptcy and discuss what would be best for them based on their situation, I ask if they have any questions. I often get the same response of “I don’t even know what to ask.” This is a common feeling and should not make a Debtor feel stupid. Bankruptcy, regardless if you are filing a Chapter 7 or a Chapter 13 can be very overwhelming. Most Debtors never thought they would be in the situation where they had to file Bankruptcy, therefore; just don’t know what to ask.
During the bankruptcyhome.com/eval.htm”>Initial Consultation, the Bankruptcy Attorney should go over the basics of filing, the differences between Chapter 7 and a Chapter 13 Bankruptcy, and what is the best option for the individual Debtor. However, there can be some little things that a Debtor doesn’t even know to ask about because they never think about it.
One thing any Debtor who gets a tax refund each year needs to ask is “What will happen to my tax refund?” Depending on the Chapter that is filed, the time of year, and the amount of the refund the answer will vary greatly. Also, some Trustee’s treat refunds differently than others. The Attorney or Financial Advisor will know how the Trustee in the area the Debtor is filing will handle the refund.
In each case, different issues will arise that a Debtor won’t know what to do. Debtors should not be afraid to ask their Attorney for advice or guidance. Just because an Attorney might deal with the same situation on a daily basis, most Debtors will only deal with the same situation once in their entire life and won’t know what to do.
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