Unfortunately, when one falls on hard times, it may be necessary to file for bankruptcy. According to Statista, in 2022, there were 370,685 cases of personal bankruptcy filed nationwide in the United States. If you're in such a situation, you must be aware of all the legal aspects involved and hire a bankruptcy attorney. Here are some questions you should ask a professional before hiring them.

How Many Cases Have You Handled?

Filing for bankruptcy is a major event, so you want to ensure your legal representation knows what they're doing. Ask your potential bankruptcy attorney how many cases they've handled already. You should also ask them what the outcomes of those cases were.

What Are the Risks and Benefits of Bankruptcy?

One of the reasons many people file for bankruptcy is for a fresh start. However, that fresh start may begin with a terrible knock to your credit rating. According to Forbes, a Chapter 13 bankruptcy filing can stay on your credit report for up to seven years, and a Chapter 7 bankruptcy filing can stay on your credit report for 10 years. This can make it difficult to get a mortgage or a car loan in the future. Because of this, it's important to make sure you discuss the situation with your bankruptcy attorney to see if this is the absolute right solution for you.

How Long Will the Case Take?

What type of bankruptcy will you be filing? There are different types such as Chapter 7 and Chapter 13, and the type you file will affect how long it'll take to complete. It can take four to six months to complete your Chapter 7 filing with the court, according to Experian. On the other hand, it may take as much as five years to complete your Chapter 13 due to the repayment involved.

How Do You Prefer to Communicate?

Are you getting an attorney with a very open and frequent communication style? The last thing you want in filing a bankruptcy is to be in the dark about what's going on. Ask your bankruptcy attorney if they prefer regular phone calls and emails, or if you should set up an ongoing weekly meeting.

Filing for bankruptcy can be a stressful time for anyone. Having the right legal representation on your side can help you get through it. Make the next step in doing so by giving our firm a call today at Cox Law Group, PLLC.