If you have tried every way imaginable to avoid bankruptcy but find that you have no other way out of the situation, the first step you should take before filing is to consult with a Staten Island bankruptcy attorney. A Staten Island bankruptcy attorney can be hired by you.If you decide to select your own attorney, make sure to select someone with previous experience in bankruptcy law, preferably someone who works specifically with bankruptcy.
Many attorneys say they practice bankruptcy law but some specifically only do that type of law. It is better to go with someone who knows the field and has a lot of experience. Many of these attorneys will be able to better prepare you for the questions that will be asked in court.
No matter which bankruptcy attorney you select, you should always be prepared to ask the attorney questions regarding your own case. Here is a list of questions you should always ask your attorney to make yourself more aware of your bankruptcy proceedings:
What Type of Bankruptcy is Right for Me?
Keep in mind that the Federal court system in the United States has eight different types of bankruptcy filing available. Of course the two most popular for indiduals are Chapter 13 and Chapter 7, but there are a variety of different details and rules that apply to each type of filing. A good bankruptcy attorney will be able to sift through your financial difficulties and recommend the best type of bankruptcy for you.Usually, a chapter 7 bankruptcy will be recommended when you have assets with little to no equity and your household income is minimal. A chapter 13 on the other hand will be recommended when you have asset with equity or are over the median household income.
How do I file for bankruptcy?
Filing for bankruptcy will need to be done in the state where you currently live. If you plan to remain represented by a bankruptcy attorney, their legal staff can help to prepare all of the paperwork that is necessary to present to the court system. A good bankruptcy attorney will have you read over the bankruptcy information sheet that will explain the different types of bankruptcy. They will also give you a list of documents that they will need from you so they can create the petition and send documents to the trustee. In addition, they will be able to file the petition and all of the bankruptcy schedules for you and go over in detail what that means.
What type of fees will I owe?
This is important to ask in regards to your bankruptcy attorney as well as the court system. Most bankruptcy attorneys will give a free consultation but any remaining time on the proceeding or in court will cost a fee. Some attorneys charge by the hour while others charge a flat fee for bankruptcy services. Some also will allow payment plans. It is important to also understand that there is usually an additional filing fee. In New York the filing fee is $335. This, it is important to ask whether the filing fee is included in the price or not. Additionally, you will have to take two credit counseling courses. One before you file the bankruptcy and one after. It is important to find out how much these courses charge. Moreover, some attorneys charge to pull credit reports and have extra fees for certain things. Many retainers say that the fee only includes up to the first meeting of creditors. It is important to read over your retainer so that you know what fees you are being charged.
What happens at court?
A good Staten Island Bankruptcy Attorney will be able to prepare you for court. They will also ensure that all of your documents are timely sent to the trustee. It is important to ask what will happen when your at court. Although, no one can predict the future they will be able to explain the process so that you feel comfortable and more prepared.
What Happens After Filing for Bankruptcy?
Immediately after filing for bankruptcy, the court system will send out notification to creditors of the pending bankruptcy case. From this point on, creditors are considered to have a “restraining order” by the debtor and are not allowed to contact the debtor requesting payment. Depending on the type of bankruptcy, a hearing will be scheduled and deadlines will be set for creditors to file a claim and attend the hearing. Of course, all of the proceedings from here are dependent on the type of bankruptcy filed, so it is important to be in contact with your bankruptcy attorney who can more readily answer these questions.
What Happens When the Court Date is Over?
If you are in a chapter 7 and the case is closed then you will probably get your discharge within 3-4 months. If the trustee has requested more documents or wants to check out something on his or her own then your case may be held open for a longer period of time. If however you filed a chapter 13 then you will probably have a confirmation hearing you will have to attend. A good Staten Island bankruptcy attorney will be able to tell you what your next steps are.