Meeting Your Bankruptcy Attorney

Many clients are intimidated when meeting a bankruptcy attorney for the first time. They fear that they will be asked judgmental questions and have to justify their financial distress. They fear that they will not be able to answer the attorney’s questions and somehow not qualify for bankruptcy and the relief they desperately need.

Nothing could be further from the truth.

The first thing you will discover when meeting your bankruptcy attorney is that your attorney is a good listener. You are the world’s foremost expert concerning your own finances, and your attorney is there to learn about your case from you.

The second thing you will discover is your attorney’s compassion. Bankruptcy attorneys really do care about their clients. Bankruptcy is one of the few areas of the law where the legal process is designed to have a positive result for the client. The goal of your bankruptcy attorney is to ensure that you are in a better financial position at the end of the case than you were at the beginning. Bankruptcy lawyers are caring individuals that have an active interest in your future success.

The third thing you will notice is how your attorney is able to quickly summarize what seems like an overwhelming problem into simple concepts. Your attorney will break down your finances into four categories: assets, debts, income, and expenses. From there you and your attorney can discuss what must be done to improve your financial situation.

Finally, you will be impressed with the clarity your attorney has for repairing your financial problem. A skilled bankruptcy attorney spends years studying, training, and gaining practical experience just so your case can be resolved quickly and efficiently. Bankruptcy law is all about paths to recovery and your attorney will guide you along a path that is best for you.

When you first meet your bankruptcy attorney, discuss your case openly and honestly. You will find that your attorney is dedicated to helping you attain a financial fresh start and improve your family’s finances.

What is Your Financial Attitude?

A recent study by Fidelity Investments found that many young working Americans are growing more conservative in their behavior towards financial matters and employment decisions. The Fidelity Generation Y study investigated the attitudes and behaviors of more than 1,000 employed Americans ranging from 22 years to 33 years old. The Fidelity study found:

• Over 70 percent of Gen Y workers are very concerned about their finances with daily money management and budgeting as their biggest focus;
• Most Gen Y individuals are using mobile technology to stay updated on their cash flow situations;
• 41% say the economic crisis has made their generation more conservative; and
• More show a reluctance to “job hop” with one in four indicating the intent to remain with a current employer until retirement, up from 14 percent of those surveyed in early 2008;

Fidelity Investments reports that:

"The change in the mindset of young workers has been remarkable," said Brad Kimler, executive vice president of Fidelity's Consulting Services business. "Their attitudes and views toward their employer and finances are now more conservative and reflective of their parents' generation[.]”

So what is your financial attitude? Most people who go through bankruptcy emerge with a greater understanding of their monthly finances and a resolve to manage their financial life better. Most people are more conservative and careful with their finances after bankruptcy, slowly improving their credit scores and making wise decisions that lead to home ownership, retirement savings, and financial well-being.

Congress wants the bankruptcy debtor to succeed in the future. The bankruptcy laws require a debtor to go through a credit counseling session and a class on personal financial management. Surprisingly, most bankruptcy debtors are eager to take these classes.

If you are eager for a new beginning free of overwhelming debt, consult with an experienced bankruptcy attorney and consider your options for a better financial future.