The financial stability of a person matters more than anything in life and hence when you get closer to bankruptcy, meeting with the best bankruptcy attorneys in Tucson becomes important. It may so happen that you are overstressed and burdened with financial stability. Hence, you can commit some mistakes in which not sharing your problems is one of the major mistakes seen among people.
The rising stress for financial stability can lead to bankruptcy and you will not know when this will happen. A person needs to be proactive in this case and consult with a good chapter 7 bankruptcy lawyer in Tucson and get detailed information for future use. Sometimes you may feel yourself that the situation is going to happen and hence it becomes more vital that you understand the legalities involved.
At times while consulting with a lawyer most of the people don’t know what questions to be asked with an attorney. There can be several of the bankruptcy attorneys in Tucson but how do you judge that this one is right for you? You need to understand the various factors involved. Here are the five questions that you
should ask the bankruptcy attorney before hiring them.
1 What is the exact time that a bankruptcy case will require the presence in court?
Generally, the present in the court is found to be very low in most of the cases for bankruptcy while there are chances that a judge may call you for the present in the court. But you should not take bankruptcy cases very lightly as there are chances that your case can turn into a litigation case very quickly and you may not even know the cause.
And hence a bankruptcy lawyer in Tucson is a great help when you don’t understand the legalities. The lawyer can advise you of the future outcomes of each possibility that the case may take and complete all the procedures very smoothly so that your case may not even push towards the extreme situations.
2 Are your assets protected from the bankruptcy case?
Most of the individuals did not file bankruptcy cases just because they feel that their assets will be seized but that’s not the case. Some legal rules apply to allocate your assets which can be not in use for the bankruptcy case.
At the time of filing the case, you will be required to disclose each asset that you own. But you need not worry because not all the assets will be required to pay off your bankruptcy loan.
According to the government rules for a bankruptcy case, you will be given a certain allocation of the assets that will be your assets which will not be used in the bankruptcy payment. These assets will be safely secured with yourself.
3 What happens to the major assets that are my home?
We have already discussed the major disclosure of the assets and allocation of assets aside from bankruptcy payment. But there is one thing that comes to every bankruptcy case filing individual: what will happen to my home? will it be in the custody of the creditor or not?
While on the detailed legalities for this question you may need to seek out the help of good bankruptcy lawyers in Tucson but the major advice is given to file for chapter 13 which will help you to get partial disclosure of assets. But adopting this method is important and at the same time dangerous if you don’t understand the legalities.
4 until what time a creditor needs to be paid or how long a creditor will be required to be paid?
It may so happen that you will need to pay and the payments could be done in installments according to the instruction of the court. But the question arises that for how long you will be required to pay the creditor. At the time of case proceedings, you will be needed to stretch the time for as long as possible.
Now why you need to stretch the time is because the longer the time the shorter the payments while you will also get more time for arranging the funds. But if you are applying through chapter 13 of the bankruptcy case then the longest time that you can get is five years.
5 do I need to have a lawyer while attending the proceedings?
While there are lower proceedings at the time of bankruptcy cases, the major task is to attend the meeting of creditors. The meeting of creditors involves various legalities and these legalities if mistaken by 1% then you can expect severe consequences. Hence it is not recommended to attend meetings without a lawyer.
A bankruptcy attorneys Tucson is the right person to help you out at the time of meeting with creditors so that you don’t indulge in distracting conversations or case tactics that will weaken your case in the future. I wish you all the luck that prevails!