Ask These Questions Before Hiring a Bankruptcy Lawyer

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If you are thinking of filing for bankruptcy because of your current financial situation, it is highly recommended that you hire an experienced bankruptcy lawyer for the job. Bankruptcy lawyers are trained and qualified individuals who have been providing services in the legal field for years. The legal expertise and support provided by a bankruptcy lawyer can  help you navigate through the tough time easily.

However, not every bankruptcy lawyer is made equal, and it is recommended that you ask your potential lawyer the right questions before hiring them for the job. Below mentioned are some of the most important questions you should ask your bankruptcy lawyer prior to hiring them. Hire an expert from a law firm like CES Law to help you in the whole process.

Ask Them If You Have Any Non-Exempt Assets

When you are filing for bankruptcy, you will have to follow the state bankruptcy laws. Every state provides a list of assets which are considered non-exempt when you are filing for bankruptcy. This means that your trustee can cease and sell those assets to compensate for your debt.

Before Hiring a Lawyer, ask them if they know the whole non-exempt asset list provided by your state. If your lawyer fails to add non-exempt assets in your bankruptcy report, you might find yourself in deep trouble.

Do I Have Any Fraudulent Transactions?

When a person is nearing bankruptcy, he might try to sell some of his assets to pay off the debt. While doing this is totally Okay, you might find yourself in trouble if the assets were sold for much lower than their actual market price, or the funds you got by selling them have not been spent on debt repayments before filing.

So, ask your lawyer to review all the transfers you have made in the past two years to identify any fraudulent looking transactions.