How Do I File Bankruptcy?
Keep in mind that bankruptcy is a legal process that allows you to discharge debt and get back on firm financial footing. It can be a complex web of paperwork and court procedures. It is not required that you have a bankruptcy lawyer, but it is in your best interest to seek the advice of an experienced bankruptcy attorney. If you choose to file bankruptcy without the help of an attorney, you will need to have to exhibit a lot of patience and diligence.
Chapter 7 or Chapter 13?
Once you've answered the question "Can I File Bankruptcy", the first decision you have to make is which kind of bankruptcy you should file for: Chapter 7 or Chapter 13? Chapter 7 bankruptcy is usually filed by persons with fewer assets and lots of unsecured debt. Homeowners who are trying to avoid foreclosure can file Chapter 13 bankruptcy to stop an action by their mortgage holder. It allows them to restructure their debt and keep their home.
Get Help With Your Bankruptcy Filing
We encourage you to seek the help of a seasoned bankruptcy attorney before you move forward on your own. Our network of wise lawyers offers a free evaluation of your case and payment plans to make your bankruptcy case affordable. Your attorney will assist you in preparing your bankruptcy petition and submitting it to the court.
After Your Case Is Filed
Once your bankruptcy petition is filed with the bankruptcy court, you will be assigned a Trustee who will see to it that all the information that is needed is collected from you and that all the information provided is accurate. The next step would be to notify your creditors that you will be filing for bankruptcy so that they will have to stop all actions they might be taking up against you to get your payments.
The later procedures include meeting the various parties who are involved in your bankruptcy case, together with your creditors and if possible your creditors' lawyers.
While all this is going on, also keep in mind that filing for bankruptcy is a long process which will require a lot of patience. For this reason, having an experienced lawyer might make sure that everything runs smoothly.
- Free 24-hour Bankruptcy Information Line
- Call 1-800-859-0844