QUESTIONS TO ASK YOURSELF AND YOUR ATTORNEY BEFORE FILING FOR BANKRUPTCY IN COLUMBUS If you Decide to File at the Present Time, You Should Know What the Future Holds and then Do Whatever You Can to Improve your Finances Across the Board. SCOTT R. NEEDLEMAN COLUMBUS BANKRUPTCY AND FORECLOSURE DEFENSE ATTORNEY
Filing for bankruptcy is not something you do on a whim. It is a calculated financial decision that will change your life in many ways. Before you decide for or against this, there are questions that you need to answer based on your personal financial situation. At the same time, there are questions you need to ask a bankruptcy attorney as this type of legal professional can provide you with the advice and knowledge you require. Even though your bankruptcy attorney can help in many ways, the final decision is yours to make. This is why you need to consider the pros and cons of filing, including what this means to you now and how it will impact you in the future. QUESTIONS TO ASK YOURSELF Below are five questions to ask yourself if bankruptcy is on your mind: 1. Do you continually carry a large credit card balance from month to month? This is one of the first signs that you are facing financial distress. While this may not signify the need to file for bankruptcy, it is a sign that this could be on the horizon. 2. Are bill collectors hounding you to make payment? This is more than being in debt. This is being in debt and not making an attempt to pay the creditor. If this is true in your life, you are in more trouble than the debt that you owe. There is also a good chance that your account has been sent to collections. As a result, your credit score will begin to fall. uestions to Ask yourself and your Attorney Before Filing for Bankruptcyl thecolumbusbankruptcylawyer.com 2
3. Do you get the feeling you are in too deep to dig yourself out? It would be ideal to get your finances back on track without filing for bankruptcy, but if you are in too deep this may be a challenge that you are not willing to stand up against. Only you know how bad your situation has become, and whether or not you can fix things without filing for bankruptcy. 4. Are you using credit cards because you are spending all your money paying off debt? This is a common situation, and one that will just get worse over time. Although it is good that you are using your cash to pay off debt, it is important to remember that you are accumulating more debt at the same time. In other words, you may be making progress with one creditor but getting further behind with another. 5. Are you unsure of how much debt you truly have? Many people who are in a bad financial spot do not know how much debt they have. All they know is that they owe a lot of people a lot of money, and have no idea of how they are going to pay it back. For those who don t uestions to Ask yourself and your Attorney Before Filing for Bankruptcyl thecolumbusbankruptcylawyer.com 3
even know how much debt they have, devising a plan, outside of bankruptcy, can be a challenge. QUESTIONS FOR A BANKRUPTCY ATTORNEY After you answer these questions, you may still be up in the air as to whether or not filing for bankruptcy would be in your best interest. This is when a bankruptcy attorney can step in to assist you. Here are five questions to ask when consulting with an attorney for the first time: 1. Do you feel that bankruptcy would help me get my finances back on track? 2. Can you explain the pros and cons of filing for bankruptcy? 3. Can you explain the difference between Chapter 7 and Chapter 13? 4. What is the process for filing bankruptcy? 5. When everything is said and done, will I truly be in a better financial position? When you ask these types of questions to a bankruptcy attorney, you know you are going to learn more about this process than you ever imagined. Let your legal professional guide you when making a decision. uestions to Ask yourself and your Attorney Before Filing for Bankruptcyl thecolumbusbankruptcylawyer.com 4
YES OR NO TO BANKRUPTCY? What is good for one person may not be good for another. This is why you have to review your own situation and make your own decision regarding bankruptcy. With the help of a qualified attorney, this is not nearly as challenging as it sounds. If you decide against bankruptcy, you need to create another plan for getting your finances in order. If you decide to file at the present time, you should know what the future holds and then do whatever you can to improve your finances across the board. uestions to Ask yourself and your Attorney Before Filing for Bankruptcyl thecolumbusbankruptcylawyer.com 5
About the Author Scott R. Needleman The Needleman Law Office 5300 E. Main, Suite 109 Columbus, OH 43213 614-575-1188 http://thecolumbusbankruptcylawyer.com/ The Needleman Law Office is committed to handling your case in both a personal fashion and in a professional manner. In other words, I treat you the way I would want to be treated. I will take a personal interest in your situation, making sure you understand exactly what is happening and what options you may have. Then I will fight to ensure the best possible outcome for your situation. Scott R. Needleman uestions to Ask yourself and your Attorney Before Filing for Bankruptcyl thecolumbusbankruptcylawyer.com 6