What to ask in first consultation meeting with BK Attorney

[S2008]

We've finally setup an appointment for first consultation with a local BK Attorney. What are the key questions to ask in first consultation? I'd appreciate if anyone can share what sort of questions they asked or wish they'd asked in their first consultation.

My main questions are:
1. ch7 or ch13 -- we're high income, not automatically qualified for ch7
2. Wait 6mo. to 1yr to file? Our family size will go from 3 to 5 in about a year time. Will that make our ch13 payment lower???
3. Two upside down homes. Keep'em or dump'em?

I'd appreciate if anyone can share what sort of questions they asked in their first consultation. THANKS!

[Reddrocket07]

My main questions are:
1. ch7 or ch13 -- we're high income, not automatically qualified for ch7
2. Wait 6mo. to 1yr to file? Our family size will go from 3 to 5 in about a year time. Will that make our ch13 payment lower???
3. Two upside down homes. Keep'em or dump'em?

1. Just because you are high income does not necessarily exclude you from qualifying for ch7. According to my lawyer chp 13 is better because if you reaffirm on anything, you will outright own it once you go through BK and it only lasts 7 years on your credit report once you file, not after its done. Take the means test and discuss with your spouse which one works best for you if you qualify for both.

2. If you wait, you rack up more bills and potentially more to pay back. I saw a lawyer today and she said that we can make an addendum to the repayment plan if we have children. The addendum would be for an decrease in the repayment plan so you can afford more groceries and child care. The only benefit you get by waiting is if you and your spouse are deadset on filing chp.7 and you fail the means test currently. Having two more children may qualify you to pass the means test and then you would be able to file chp. 7

3. i would keep one of your homes for you to live in, get rid of the other. its hard to find rental property whether it be house, apartment, and/or land while you are in BK.

I hope this helps some, but please keep in mind that I am not a lawyer, those should be questions that you have the right to ask during your consultation.

We went to the lawyer today and we asked what our repayment amount would be in her opinion. She quoted it to us, but told us that its not set in stone.

If you have student loans, ask about those as well. They have to be paid off regardless and will not be discharged.

[epiphany]

It all depends on what is important to you. The more you read on this forum, the more questions you will have so my advice is to educate yourself and jot down questions as you think of them. Then at your consultation, whip out your list and fire away. This will also give you a feel for the lawyer. How the lawyer responds (i.e. does he/she answer your questions to your satisfaction or does he/she seem put off by having to spend the time) will give you a great feel for how attentive he/she will be in the future.

Good luck,

ep