One of the main things that all persons considering chapter 7 bankruptcy should remember is that most law firms offer a free initial consultation. That means that a person needs to make a short list of the available and recommended chapter 7 bankruptcy lawyers in the Waldorf, MD area. Once a short list has been made a person then needs to schedule their free consultation with each of the potential candidates.
The interviews that a person has with any lawyer for chapter 7 bankruptcy Waldorf, MD should be treated like an interview. That means that a person should come into the interview fully prepared with a list of their entire financial situation as well as a list of any question that they might have regarding the bankruptcy process and how it relates to him or her.
Questions to Ask a Chapter 7 Bankruptcy Lawyer
The first question that a person needs to ask is whether or not chapter 7 bankruptcy is a viable option for him or her. There are some limitations to this type of bankruptcy as well as some requirements for qualifications. After looking at a person’s financial snapshot, a bankruptcy lawyer can then make a recommendation of how to proceed.
Another important question to ask has to do with assets that are exempt from chapter 7 bankruptcy. In chapter 7 bankruptcy, most of a person’s assets are liquidated in order to pay off as much debt as possible to all of the creditors. There are, however, some assets which are exempt such as a person’s home, furniture, and car. There may be some other assets which are exempt as well, which a bankruptcy lawyer can help to identify.
A third question that should be asked is related to the number of bankruptcy cases that the lawyer normally handles at a time. Often times a low cost bankruptcy lawyer is able to offer a low cost because they take on a larger volume of clients. The downside to that is there is less focus on each person’s unique situation. It is always a good idea to ask so that a person can get a good idea of the lawyer’s current work load.
A chapter 7 bankruptcy in Waldorf, MD requires a lawyer that can really provide a lot of help that may not be realized initially. Many people try to go through the process of filing for chapter 7 bankruptcy on their own in order to save costs. What they sometimes do not understand is that while a chapter 7 bankruptcy lawyer may cost money, they may also be able to save a person more money at the same time. They may be able to protect more of a person’s assets. Click here to know more.