Bankruptcy Consultation

Michael G. Clagett

Your initial consultation will always be with me, Michael G. Clagett.

The first matter to be addressed will be to determine your current monthly income and, if necessary, we will run the Means Test. That is the reason that it is necessary for you to bring your last seven months of pay stubs with you. (See What To Bring To Your Initial Bankruptcy Consultation.)

Then, I will want to know your debts and if you have any particular legal problems, like a lawsuit, pending repossession, or pending foreclosure. I actually would like to look at your bills, even if you have made a list, so bring them with you. . I will need to know how much you increased the balance on any credit card in the last six months. I will want to know if you recently obtained a new loan or refinanced an existing loan as well as the balances due on any secured debts including home loans and vehicle loans. While it is unnecessary to pay your lender to obtain a payoff on your home loan, I need to know the principal balance. I also need to know how many payments remain on your secured debts, if less than 60 payments remain, and your current monthly income requires the means test to be run

I will explain the different chapters of bankruptcy that consumers can file. I will also lead you through the mechanics of a bankruptcy case from the preparation of a bankruptcy petition through discharge. I will then answer all of your questions. If you feel that you might be too nervous to remember when you come in, please feel free to prepare a list of questions ahead of time.

Naturally, there will come a time when I will discuss the fee for our services. Remember, there is never a charge for this initial consultation. Our fee will be explained and clear as well as the filing fee imposed by the bankruptcy court. I will also discuss the cost of the pre-bankruptcy credit counseling and education course, if you want to have our office arrange such services through GreenPath.

I will then give you some information I am required by law to provide. I will also confirm that I have your correct address so that I can send you a contract. Finally, I will once again make sure that I have answered your questions. This should end our meeting, but we may have to continue our meeting, if we must run the Bankruptcy Means Test.