Navigating Your Client Through the Bankruptcy Maze
When a potential client steps into your office, and says that he or she wants to file for bankruptcy, your knowledge and experience as a bankruptcy attorney takes center stage. The person that has come to you for help is depending on you to assist them in navigating through the choppy waters of financial distress. Keeping your client on course throughout the bankruptcy process does not have to be a difficult task. There are some things you can do to make sure that your client sails smoothly through the bankruptcy procedures.
Initially, you want to know why your client wants to file for bankruptcy. Make sure that you review with your client those debts that are non-dischargeable under bankruptcy law. Also, have your client complete a pre-filing questionnaire. The pre-filing questionnaire will help you understand what the assets and liabilities are for your client.
If, after consultation, your client decides that bankrutpcy is the right way to go, the next order of business is deciding which chapter to file under. For individual filers, the choices usually are Chapter 7 or Chapter 13. Knowing which is best for your client will require that you apply the specific facts and number crunching within the statutory requirements of each chapter. It is of vital importance that during this process, your client is open and honest with you about their financial matters. Finally, make sure that you check within your specific state for local rule changes and form updates.
Your client may already feel a certain degree of stress in the current financial climate. You have the opportunity to create some breathing room for economic recovery and stress relief by providing proper guidance through the bankruptcy proceedings.
