Bankruptcy Lawyer Dundee IL – ASM Law
If you’re struggling with debts, filing for bankruptcy may be an option for you. Bankruptcy offers certain protections and may enable you to keep your assets. At ASM Law, we specialize in providing legal help to people facing bankruptcy. Call our firm today for a free consultation with an experienced Bankruptcy Lawyer Dundee IL. On this post, we’ll list some of the things you can do to prepare for meeting with your lawyer.
A bankruptcy lawyer will typically start by asking why you’re considering a bankruptcy filing. This helps the lawyer recommend whether you should file for Chapter 7 or Chapter 13 bankruptcy. The information you provide informs whether bankruptcy is actually the solution to your debt problems.
Preparing for the Bankruptcy Lawyer Dundee IL Questions
In many cases, people arrive at a law firm seeking assistance with one of many problems. For example, clients will report that their debts are increasing and their concerns are overwhelming. However, there could be other factors driving your financial stress such as:
- -An individual serves you with a lawsuit.
- -Your employer receives an order to garnish your wages.
- -You fall behind on your mortgage and now face foreclosure or eviction.
- -Creditors seize funds from your bank accounts or you are behind on car payments and risk vehicle repossession.
Talk to a Lawyer Today if You’re Struggling with Debt
After determining the main issue you face, your lawyer can assess if you qualify for filing either Chapter 7 or 13 bankruptcy. This entails questions regarding your income, assets, household and the kind of debts you owe. Also, inform the lawyer of recent property transfers or purchases. Examples of questions you may expect:
- -What is your marital status?
- -What is your income and assets, what is your spouse’s income?
- -How much was your income over the previous six months?
- -Which type of debts do you currently owe?
- -Do your debts include overdue taxes, child support or alimony obligations?
- -Do creditors have judgments against you?
- -What’s the value of your assets?
- -These questions will all relate to the key question of what you wish to accomplish with a bankruptcy filing.
Collecting Your Paperwork
Naturally, a bankruptcy petition requires certain documentation. Consequently, it’s a smart idea to organize your documents and bring them with you to your consultation. Particularly if you hope to complete your bankruptcy soon. Some of the papers you’ll want to bring include:
- -A few months of paycheck stubs and bank statements.
- -Two years of your tax returns.
- -For those who are self-employed, bring your last two years of profit/loss statements.
- -Up-to-date copies of your car loans and mortgage statements.
- -If you’re facing foreclosure, bring any paperwork that relates to that action.
- -Recent copies of your life insurance policy.
- -Retirement and investment statements.
- -A valuation of your vehicles. For example, a valuation from the Kelley Blue Book.
- -In the event you’re divorced, bring along a copy of your settlement agreements.
- -A copy of your social security cards and drivers’ license.
Bankruptcy Lawyer – ASM Law
Facing overwhelming debts can seem like a hopeless situation. However, at ASM Law, we specialize in helping people just like you who are facing similar challenges. We apply our expertise in bankruptcy law to protect your best interests. Bankruptcy filings offer protections that can enable you to set up a repayment plan. It is very possible to recover and get back on your financial feet. In some cases, bankruptcy may not be the solution to resolving your debts. It may be possible to obtain loan modifications or other repayment options that will satisfy your creditors. Regardless, the guidance of a Bankruptcy Lawyer Dundee IL is very helpful for anyone facing debt problems.