Chapter 13 Bankruptcy / Chapter 7 Bankruptcy / Filing Bankruptcy

Filing Bankruptcy: How Do You Start the Process?

So, you have decided to file bankruptcy.  While this option may be a difficult decision to make, it is significant as you have gotten even closer to establishing the fresh start and financial control you deserve.  But, filing does include several processes including filling out forms, completing credit counseling, and appearing before a judge.  It helps to review the process in detail with your bankruptcy attorney since situations vary.

If you are considering bankruptcy the following steps are crucial in helping you get started.

  1. Gather your bills to see what debt you have.

  2. Discuss options and qualifications with a bankruptcy attorney.

  3. Weight your options and make a final decision based on legal advice.

  4. Get started with your attorney in completing necessary paperwork to begin filing.

When speaking with your attorney you should review which type of bankruptcy (Chapter 7 or Chapter 13) is best for your situation or which one do you qualify for?  Ask about eligibility factors for filing. Learn about asset protection (house, car, etc.) through bankruptcy exemptions available at state and federal levels.  Ask how long your case will take, when you need to appear in court and other actions you may need to perform in order for your case to run as smooth as possible.

Some considering bankruptcy may decide to file on their own (pro se). While you have the option to do, bankruptcy experts suggest you complete the process with legal guidance of an attorney.  You should at least consider a free consultation to review your case due to complications within the bankruptcy code.

Reference: http://www.totalbankruptcy.com/overview/faq/how-to-file-bankruptcy.aspx