Choosing to file for bankruptcy is a decision that most people don’t take lightly. Taking the first step and meeting with a bankruptcy attorney can be intimidating and even a little bit frightening. Knowing what to expect and being prepared for your first visit can help to make you feel a little more comfortable and ensure that you get the most out of your initial visit. Here are some things you can do to prepare for your appointment:
Be prepared to be honest. Lets face it, sitting down and sharing your entire financial life with someone you’ve just met can be uncomfortable, at best. Trying to minimize the issues or withholding information will make the entire process more difficult. Take a deep breath, steel yourself, and get ready to answer questions completely and honestly. Remember that you are meeting with a professional who is there to assess your situation. Chances are they have seen people in similar, and in most cases worse, circumstances. The attorney is there to help, not to judge you personally.
Make a list of your questions. In the days and weeks leading up to your appointment, keep a list of questions you would like to ask. Most attorneys will welcome the opportunity to answer your questions and address your concerns. Keeping a list will help you to stay organized, on task, and will help you to remember everything you wanted to ask.
Compile necessary information. Some attorneys will give you a list of information they want before the first meeting. If this is the case, make sure that you have all of the information and supporting documents sent over before the requested by date. The requested information will most likely be related to your income, assets, debts, and expenses. The information the attorney needs at this first meeting may include the following:
- A list of all bills on which you owe
- Your two most recent pay stubs
- Information about real estate and vehicles on which you are listed as an owner
- Bank statements
- An idea of what your personal possessions are worth
- Statements of securities and cash-value life insurance policies
- A copy of any lawsuit in which you are involved
Your attorney may require more or less information than this for your initial meeting. Just be sure to ask what they would like you to bring and have it all ready and organized.
Be ready to listen. During your first meeting, your attorney will go over your particular financial situation and spend a fair amount of time educating you about bankruptcy laws and advising you on the course of action that will be in your best interest. Asking clarifying questions will help you understand what’s being presented, and taking notes will help you later on as you evaluate their information at home and discuss it in your family.