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Filing Requirements for Bankruptcy
When a person is in financial hardship, they may decide that filing for bankruptcy is their best course of action. However, it is important to realize that there have been new laws enacted that determine the filing requirements for bankruptcy and the best way to ensure that you meet those requirements is to utilize the services of a licensed and experienced bankruptcy attorney.
Filing for bankruptcy does not necessarily need to have the negative connotation often associated with it. For those who are in serious financial hardship and at risk of losing their home, possessions, and are continually being harassed by creditors and bill collectors, bankruptcy can be the fresh start that you need to start over again.
Meeting with a bankruptcy attorney should be your first step. The attorney will let you know all of the requirements that you need to take, however you should be prepared to begin the filing requirements several months in advance. First, you will need to consent to credit counseling services. This counseling must be with a licensed and approved counseling provider. Additionally, after you file for bankruptcy you will need to take a debtor education course. These courses are used to prevent bankruptcy fraud and abuse and help ensure that individuals are sure that they have no other option than to file for bankruptcy.
You will also be required to fill out a number of forms and documents as well. This includes a filing fee, statement of your Social Security Number, a list of all of your creditors; you will also need to show proof of the credit-counseling course that you took.
It’s also important to realize that once the court looks over your financial statements, they may determine that you do not qualify for Chapter 7 Bankruptcy, but rather Chapter 13 Bankruptcy.
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When a person is in financial hardship, they may decide that filing for bankruptcy is their best course of action. However, it is important to realize that there have been new laws enacted that determine the filing requirements for bankruptcy and the best way to ensure that you meet those requirements is to utilize the services of a licensed and experienced bankruptcy attorney.
Filing for bankruptcy does not necessarily need to have the negative connotation often associated with it. For those who are in serious financial hardship and at risk of losing their home, possessions, and are continually being harassed by creditors and bill collectors, bankruptcy can be the fresh start that you need to start over again.
Meeting with a bankruptcy attorney should be your first step. The attorney will let you know all of the requirements that you need to take, however you should be prepared to begin the filing requirements several months in advance. First, you will need to consent to credit counseling services. This counseling must be with a licensed and approved counseling provider. Additionally, after you file for bankruptcy you will need to take a debtor education course. These courses are used to prevent bankruptcy fraud and abuse and help ensure that individuals are sure that they have no other option than to file for bankruptcy.
You will also be required to fill out a number of forms and documents as well. This includes a filing fee, statement of your Social Security Number, a list of all of your creditors; you will also need to show proof of the credit-counseling course that you took.
It’s also important to realize that once the court looks over your financial statements, they may determine that you do not qualify for Chapter 7 Bankruptcy, but rather Chapter 13 Bankruptcy.
Find attorneys and lawyers with a specialty of law throughout the U.S. for your legal needs. Search by zip code and choose from many local lawyers and attorneys.
We've compiled the most comprehensive database of local lawyers and attorneys throughout the country and we'll show you the ones that are closest to you.
Thank you for visiting eLocalLawyers.com and we hope you find this information helpful.