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What You Must Not Forget to Ask Your Bankruptcy Attorney?

November 18, 2012 | Comments: 0 | Views: 303

For many people, bankruptcy can make their world fall apart. The apparent loss of reputation coupled with the inability to take financial decisions can deter anyone from thinking clearly. But all is not lost yet. A good Minnesota bankruptcy attorney can help you gain control of your situation. When you contact a Minneapolis bankruptcy attorney, he is most likely to provide you with an initial consultation. This discussion will involve understanding your financial position, your future financial plans, how you should file for bankruptcy and more importantly, answering any questions you have.It is true that when you are facing a financial crunch or when you do not have an income to sustain a decent lifestyle, you must be facing a lot of stress. Despite all the stress you are facing due to your situation, you must make it a point to ask your Minnesota bankruptcy attorney the following questions.•How should you file for bankruptcy? What documents and papers would you need to collect and produce before the attorney?

•Which type of bankruptcy filing is right for you? Should it be a Chapter 7, 11 or 13 bankruptcy filing? What are the repercussions for each type of filing and how will your financial position be affected thereby?

•When will you be asked to attend the credit counseling class which is mandatory for anyone filing for bankruptcy? How useful will it prove for you?

•Will you be able to keep your home, vehicle and other personal property after the filing?

•You can also ask your Minneapolis bankruptcy attorney if you will be able to keep your retirement money after the bankruptcy. This will include IRA, 401(k), pension and 403(b) retirement plans.

•You can find out if all or some of your debts are eligible for discharge when you file for bankruptcy. The bankruptcy law stipulation pertaining to discharge of debts depends a lot on the type of debt including and not limited to credit card debts, income tax debts, student loans, fines and penalties among others.

•You can understand from your attorney about how to deal with the meeting of creditors or 341 meeting as it is popularly known.

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