What To Expect From Your First Consultation With A Bankruptcy Attorney In Monmouth County, New Jersey

In this article, you can discover…

• The documentation you’ll need to begin filing for bankruptcy.
• What kind of questions your attorney will ask you during consultation. 
• The next steps after your first meeting, and how your attorney will guide you. 

What Documentation Should I Bring To The First Consultation?

Be sure to bring your tax return from the previous year and three current pay stubs. Also, bring a list of any assets that you have. Bring your mortgage statement if you have a home with a mortgage on it. If you have a car with a lease or a loan against it, bring those statements, too.

Finally, you should bring with you a list of your creditors and a budget of your monthly expenses, including rent, mortgage, food, utility bills, transportation, car insurance, life insurance, and health insurance. 

How Long Does The First Bankruptcy Consultation Usually Take?

Your first bankruptcy consultation should take 20 minutes to one hour. Your lawyer will go over the paperwork you’ve brought along and ask you questions to help them better understand what type of bankruptcy would work best for you.

Attorney Paul Mirabelli is an experienced, knowledgeable bankruptcy law attorney serving Monmouth County, New Jersey. For nearly 40 years, he’s helped clients just like you understand what to expect at every stage of the bankruptcy journey and move beyond debt with greater peace of mind.

Have questions, or in need of qualified legal help? Reach out to the Paul N. Mirabelli, Esq.at (732) 733-2830 for an initial consultation today.

What Kind Of Questions Should I Expect My Bankruptcy Attorney To Ask Me During The Initial Consultation?

Your lawyer will ask detailed questions about your assets, bank accounts, and property. He’ll ask you the types of questions a trustee might ask you, such as whether you own a home, car, bank accounts, or retirement funds. He’ll also ask you if you plan to inherit anything from an estate in the next six months, as this could be pulled into bankruptcy, as well.

Your lawyer will also ask you about your debts. There are secured debts, such as car loans and mortgages and unsecured debts, such as credit card debt. If much of your debt is in unsecured credit card debt, you’ll be asked when you last used your credit card. You’ll also be asked how much you’ve charged on it in the last 90 days to determine whether or not that debt can be discharged. 

At that first meeting the attorney will do a financial analysis to determine which bankruptcy is the best fit. The Initial consultation is free.

What Are The Different Types Of Bankruptcy Filings, And Which Type Is Best For Me?

The first type of bankruptcy to examine is Chapter 7. You and your attorney will review your assets and determine if any of these assets are non-exempt. Your lawyer will also review your income; if your income is above a certain level, you may not be able to file for Chapter 7. 

Next, you’ll take a “means test” to determine if you have disposable income. If you do have disposable income, non-exempt assets, or if your income exceeds a certain level, you may have to shift to Chapter 13, which involves repaying debts over a 3-5 year period. 

What Happens After The Initial Consultation?

After your initial consultation, a bankruptcy petition will be drafted. If any additional documents are needed, they’ll be requested. The bankruptcy petition will then be sent to you for review. You’ll make sure that your assets and debts are all listed, and then you’ll sign the petition. 

Once you sign the petition, your attorney will file it. Next, a notice from the bankruptcy court will go out to each creditor you’ve listed on your petition. If you’ve filed for Chapter 7 bankruptcy, a date will be set to meet a trustee to review your petition. If you’ve filed for Chapter 13, a date will be set with the chapter 13 trustee so they can review your income and assets and determine if your proposed repayment plan is feasible. 

Still Have Questions? Ready To Get Started?

For more information on Working With A Bankruptcy Attorney In Monmouth County, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (732) 733-2830 today.