The chapter 7 bankruptcy stays on your credit report for seven to ten years. And during that time, you can certainly improve your credit score.
When Someone Is Struggling With A Lot Of Debt And Bankruptcy Is On A Horizon, What Are The Benefits To Meeting With Or Possibly Hiring An Attorney Now Or Shouldn’t I Just Wait Until I’m In Over My Head?
You should try to meet with a bankruptcy attorney before lawsuits are filed, judgments are entered against you, and wage garnishments pending. You want to meet with a bankruptcy attorney when your debt is starting to build up, and you are starting to see you cannot make the minimum payments on a monthly basis. If you suffered a job loss, you should meet with a bankruptcy attorney sooner than later. Once creditors start to file lawsuits against you and seek bank or wage garnishments, you could have no funds to pay for food the following week.
How Do I Find A Qualified Chapter 7 Bankruptcy Attorney? What Questions Should I Be Asking?
You should ask a bankruptcy lawyer the following questions.
- How long have you been practicing bankruptcy?
- Have you filed both chapter 7 and chapter 13 bankruptcy cases?
- Is bankruptcy a major part of your practice or is it just a small part of the practice?
- Do you focus on bankruptcy in your practice?
- How many cases have you filed? In how many years?
- Have you worked with people with both high and low incomes?
- What other expertise do you have within the bankruptcy area?
- Have you ever been a chapter 7 trustee? Are you familiar with the trustees in this district?
What Would You Say Sets Your Firm Apart In Handling Chapter 7 Bankruptcies?
What sets our firm apart from other attorneys is a couple of things. My passion for helping my clients through financial difficulty, my ability to talk to my clients about their financial hardships, the length of time that I’ve been practicing law, and my chapter 7 experience as a trustee all set me apart from the others. I have been able to see how chapter 7 trustees practice and the issues that arise in cases from the trustee’s side of the practice. In addition, I really listen to my clients. By listening to their stories and learning about their backgrounds, we form a trusting attorney-client relationship.
It is important to me that I am there for you to call if you’re unable to, for example, find your bankruptcy documents; I will provide them to you months down the road. I will be here to answer your questions about any of the bankruptcy issues that might arise. My clients can reach me after the bankruptcy process is over.
Is There Anything Else That Someone Heading Into Bankruptcy Should Know About You Or Your Firm Or Even The Bankruptcy Process Before They Start Down This Road?
My attitude toward my clients and the bankruptcy process is that it is a comprehensive analysis of their situation. I am not going to urge them into bankruptcy if it is not right for them, or if I think they need some time to make that decision. In addition, I talk to clients about pre-bankruptcy planning. For example, if a potential client has sold something in the last two years or repaid a debt to a family member during the last year, we can plan to file bankruptcy in the year after the date of a transfer or payment to a family member so that the Trustee cannot undo that transfer or claim the payment from the family member as a preferential transfer. If these circumstances arise, then I counsel my clients to wait to file. Other circumstances may exist if the potential client has not filed tax returns for several years. I may advise them to get all the tax returns filed prior to filing bankruptcy so that the required documents are available to the Trustee. All these issues are taken into consideration before the bankruptcy filing.
For more information on Bankruptcy Law In Maryland, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (240) 539-9393 today.
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Former Chapter 7 Trustee