Calling a bankruptcy attorney can feel like a major step.
For many people, however, the first consultation provides something they haven’t had in months: a clear understanding of their options.
A bankruptcy consultation does not obligate you to file bankruptcy.
Its purpose is to determine what your financial problems are and what solutions may be available. We like to call it a “strategy session”.
What Will We Talk About?
A bankruptcy attorney or paralegal will generally want to understand four major areas:
Your income. How much money is coming into your household?
Your debts. Who do you owe and approximately how much?
Your property. Do you own a home, vehicles, retirement accounts, business interests or other significant assets?
Your immediate problems. Are you facing garnishment, foreclosure, repossession, lawsuits or another urgent collection action?
From there, the attorney can begin evaluating your options.
Do I Need Perfect Records Before Calling?
No.
Don’t postpone an initial consultation for weeks because you haven’t assembled every document.
You should provide accurate information, but you can begin the conversation with reasonable estimates and available records.
If additional documents are needed before a final recommendation or filing, the attorney can tell you what to obtain.
Will You Tell Me Whether I Need Chapter 7 or Chapter 13?
That should be one of the principal objectives.
A bankruptcy consultation should help answer:
- Do I need bankruptcy?
- Do I qualify for Chapter 7?
- Would Chapter 13 be better?
- What happens to my house?
- What happens to my car?
- Which debts can be eliminated?
- What debts might survive bankruptcy?
- What will bankruptcy cost?
- What should I do next?
What If Bankruptcy Isn’t Right for Me?
Then you should know that too.
The purpose of a bankruptcy consultation should not be to force every financial problem into bankruptcy.
Sometimes the amount or nature of the debt means another solution makes more sense.
Should I Be Embarrassed?
No.
Bankruptcy lawyers deal with financial problems every day.
People seek bankruptcy advice because of job loss, business problems, medical expenses, divorce, credit-card debt, lawsuits, tax problems, reduced income and countless other circumstances.
The consultation is about solving the financial problem—not judging how you got there.
What Should I Have Available?
If readily available, it can help to know or bring information concerning:
- Monthly household income
- Mortgage balance and payment
- Vehicle loans
- Credit cards
- Medical bills
- Personal loans
- Tax debts
- Lawsuits
- Garnishments
- Major assets
- Recent tax returns
Don’t delay an urgent consultation merely because you don’t have everything.
Frequently Asked Questions
Is the bankruptcy consultation really free?
Brown Law Firm offers a free initial bankruptcy consultation.
Do I have to file bankruptcy after the consultation?
No. The consultation helps you understand your options before deciding what to do.
Can I ask about both Chapter 7 and Chapter 13?
Absolutely. Comparing the chapters is often an important part of the consultation.
What if I have a garnishment or foreclosure right now?
Tell the office immediately. Time-sensitive collection problems should be identified when scheduling your consultation.
Schedule Your Free Tulsa Bankruptcy Consultation
If debt has reached the point where you are searching the internet for answers, spending a little time finding out what your actual options are may be more useful than continuing to guess.
Contact Brown Law Firm for a free bankruptcy consultation. We can review your situation, explain your Chapter 7 and Chapter 13 options, and help you understand what bankruptcy would—and would not—accomplish before you decide whether to file.
