Getting out of debt can be challenging, and sometimes that debt can be overwhelming, which is where Chapter 7 bankruptcy comes into play. With Chapter 7 bankruptcy, you are going to be able to get out of that debt. Before you file for bankruptcy, there are some things you need to do.
1. Find an Attorney
First, you are going to want to find an attorney. Although you can indeed file for bankruptcy on your own, that is not the best path to take. Filing and working through the bankruptcy process is complicated, and a slight mistake could get your case thrown out.
If you can afford to get on a payment plan with an attorney, that is always an advisable step.
As you are struggling with money, it is essential to note that there are legal aid organizations that you can work with as well. They will you with legal assistance throughout the bankruptcy process if you choose to file on your own.
2. Stop Adding to Your Debt
Second, when you know you are planning on filing for bankruptcy, you need to make sure you are not adding to your debt. Adding to your debt is going to look poorly in the eyes of the court.
It is okay to keep up with regular behavior; for example, if you typically use a specific credit card to pay your bills and pay that card off with each paycheck, you can keep up that behavior.
What you shouldn't do is go and purchase a new vehicle or open a new credit card or max a card out to its limit. You don't want to look like you are purposely trying to get things for free by running up your debt.
3. Get Your Documents Together
After you file for bankruptcy, you will eventually have to go in for a 341 meeting. You are going to need to bring your financial information to this meeting. You will need to bring in things such as your bank statements, pay stubs, and tax returns. You will want to get all those documents together ahead of time so you are prepared when you get the appointment.
You are also going to need to provide information about who you owe money to. Get that information, as well as current balances, together as well.
If you are getting ready to file for bankruptcy, you will want to obtain a lawyer. You will want to get all your documents together that show both your income and your debt. You will also want to stop adding to your debt once you decide to file for bankruptcy. Contact a bankruptcy lawyer to learn more.