If you are considering filing for bankruptcy the first step is to make sure you are prepared. This begins by discussing your case with a New Albany bankruptcy lawyer who will review your situation and discuss all of your options. If you do proceed into bankruptcy, here are some things you need to prepare for:
Paperwork and Documents
It is helpful to have your financial documents organized and on hand before even consulting with your lawyer. Having a financial profile organized can help your lawyer better determine your needs and the best solution for you. Make sure to bring documents like the past two years' tax returns, copies of your bank statements and fund accounts, paycheck stubs, and any other financial accounts.
When filling out your bankruptcy petition it is important you are thorough with the information you provide. Missing or inaccurate information can delay your case. Always be honest about the status of your debts, the names of your creditors, the value and location of your assets. Attempting to hide information can be viewed as fraudulent and lead to your case being dismissed or even considered fraudulent. If there are any changes to your income, assets or debts while in an active bankruptcy case, be sure to tell your lawyer right way. These changes must be communicated to the court to ensure there is no delay or chance of dismissal in the case.
You will be required to complete a credit counseling course within 180 days of filing your petition, so try and complete this course right away. The court will need for you to provide a certificate of completion before your case can begin. You will also need to pay the necessary court filing fee. The fee for a Chapter 7 filing is $335, and the fee for a Chapter 13 filing is $310. In some cases the court will grant a payment plan or waiver of the fee for extreme financial hardship. Ask your lawyer about fees if you feel you can't afford to pay the court.