What Is A Bankruptcy Initial Consultation?

When anyone is considering using bankruptcy as a tool to become debt free, he or she is free to meet with a bankruptcy attorney for more information. This visit is often called an initial consultation, and many lawyers offer these visits for free. If you are in the position where you might want to use bankruptcy, you should schedule an initial consultation visit, and here are some of the things that will take place during this visit.

The Visit Gives You a Free Analysis

One of the key purposes of an initial consultation bankruptcy appointment is to give you the chance to learn more about bankruptcy and whether or not you qualify. In order for this to happen, though, you should come to the appointment prepared. The best type of preparation is to create a list of every debt you currently have, even if the debts are old or brand new. Secondly, you should bring paystubs to show the lawyer how much money you earn. From this information, the lawyer you meet with will be able to analyze your situation to help you determine which branch of bankruptcy you qualify for and which branch is best for you.

It Helps You Learn the Pros and Cons

Through the analysis of your debts and income, the lawyer you meet with will be able to help you understand the pros and cons of bankruptcy, and there are always good points and bad. It is just important to make sure that the good points outweigh the bad. For example, you will be able to find out whether Chapter 7 is the right option or Chapter 13. For each branch, there are significant benefits that you can receive, and it is vital that you fully understand both the pros and cons with both branches.

It Does Not Obligate You to File

The other thing to know about an initial consultation is that you can likely do this for free and will not be under any type of obligation to file for bankruptcy or to hire this particular lawyer to file. You can find out the costs of filing while you are there, though, and this is also a helpful step when considering bankruptcy.

If you are at all interested in learning more about bankruptcy, this is the type of legal visit you should schedule and complete. You will learn a lot about the process of bankruptcy while you are there and will find out if bankruptcy might be the right option for you. To schedule an initial consultation visit, call any bankruptcy lawyer in your area.