We generally need to know if the person has filed bankruptcy before, and if so, when they filed. We ask them about the different sources of income they have, the number of people in their household, their assets, their debts, and any transfers of assets that they’ve done in the past few years. We need to get a sense of what led to them being in this situation and how that has either changed or is getting worse at the moment. Once we understand every aspect of their financial world, we can best adjust the situation.
What Are Some Non-Bankruptcy Options That Should Be Considered Prior to Filing a Bankruptcy?
We don’t really look at bankruptcy as being a last-resort option. As an attorney, I try to get my clients the best possible deal by considering all options available to them, whether we handle them as a firm or not. I look at everything from the standpoint of what I would do if it were me.
Some alternatives to bankruptcy include debt settlement, loan modification, short sale, credit counseling, debt consolidation, forbearance, and foreclosure defense. Then, of course, there’s different bankruptcy options as well: Chapter 7, Chapter 13, Chapter 11, and more.
For more information on Questions for Potential Bankruptcy Clients, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (443) 492-9003 today.
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