Hiring A Bankruptcy Attorney For Peace Of Mind

Hiring A Bankruptcy Attorney For Peace Of Mind

Why Your Chapter 13 Bankruptcy Lawyer Needs Copies Of Your Bank Statements

Gabriel Freeman

When you talk to a lawyer about filing chapter 13 bankruptcy, he or she will probably ask to see copies of your bank statements. You could be wondering why your lawyer needs something that might seem very personal to you, but this is often required for these reasons.

To Get an Idea of Your Income

First of all, your bankruptcy lawyer is going to need to know about your income when you file chapter 13 bankruptcy. Your lawyer will have to determine how much you make each month and how much you can afford to pay as a chapter 13 bankruptcy payment. Knowing about your income is an important step in making this determination.

To Determine the Cash You Have Available to You

You are allowed to have and keep a certain amount of cash in the bank when you file chapter 13 bankruptcy. If you have too much cash available to you, though, you may have to pay some of this money toward your debts. Your lawyer can talk to you more about the amount of money and property that you can have without worrying about it being touched by the bankruptcy court and can look at your bank accounts to see if you fit within these guidelines.

To Look for Red Flags That Might Impact Your Case

There are certain things that might impact your case, such as transferring a large amount of money from your bank account to a family member's bank account or making a large payment on a debt. Your lawyer can talk to you more about the things that could impact your case and can look over your bank statements to make sure that there aren't any red flags that the bankruptcy trustee might be concerned about.

To Turn Them in to the Bankruptcy Trustee

When you file bankruptcy, you may be required to submit bank statements for all of the bank accounts that you have. If you go ahead and give copies of your bank statements to your attorney now, then you can help make sure that he or she has everything that he or she will need to turn over to the bankruptcy trustee when filing your case.

When you file bankruptcy, it's important to have copies of your bank statements on hand. In fact, this might be one of the first things that your lawyer will ask you for, so make sure that you have them ready for these purposes and anything else that your lawyer might need them for. Contact a bankruptcy law service for more help.


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About Me
Hiring A Bankruptcy Attorney For Peace Of Mind

Hello, my name is Kiley, and if you have major debts and you're thinking about filing for bankruptcy, this is the blog you need to read. Two years ago I was very much in debt, and then I was laid off from my job. The only alternative I had was to file bankruptcy. I was very nervous about filing bankruptcy until I spoke with a bankruptcy attorney. The attorney explained the bankruptcy process with me in terms that I could understand. After the consultation, I felt much better. If you're considering filing bankruptcy, this blog explains the process so you'll know what to expect. I wanted to write this blog so that I could help other people who are in the same situation and to let them know how the process works.