Bankruptcy in Dallas: What You Need to File

There’s no denying that it’s time to file for bankruptcy.  You’ve been struggling with insurmountable debts for several years now, and it’s not getting better anytime soon.  The debts are piling up, creditors are pounding on your door, and you’ve been losing sleep at night over how you can pay for these bills.

Fortunately, filing for bankruptcy can finally give you the peace of mind you need.  While there are some disadvantages to filing for bankruptcy, for some individuals, filing a Chapter 7 or Chapter 13 bankruptcy is the most sensible solution when facing a mountain of medical bills, credit card debts and other loan repayments.

So what do you need to file for bankruptcy in Dallas?

  1. A restrained hand with your credit cards. As soon as you know you’re going to file for bankruptcy, you’ll need to put your credit cards on ice and back off.  Dallas bankruptcy courts have been known to throw out petitions if they believe clients are running amok with their credit cards with the understanding that the debts will be eliminated.  The only exception to this rule is if bankruptcy courts determine you’ve been using credit to pay for essentials, like rent, food and clothing for your family.
  2. A great Dallas bankruptcy lawyer. Of course, no one should be expected to go it alone in the bankruptcy courts: the paperwork is complicated, and the process is long enough if everything’s filed correctly.  That’s why you’ll need a great Dallas bankruptcy lawyer by your side.  If you know anyone who’s filed for bankruptcy, ask him or her whom he or she’d recommend as an attorney.  Otherwise, do your research to determine which attorney will be able to give you the help you need.
  3. All financial documents. No bankruptcy filing would be complete unless you came prepared with all of your financial documents.  This includes bills and invoices of your debt, pay stubs, tax returns and anything else that can accurately pinpoint your current financial situation.  The rule of thumb is: if you think your bankruptcy lawyer could use it, bring it.
  4. Honesty. When filing for bankruptcy, the worst thing you can do is try to shrug off your debts out of embarrassment.  Now is not the time to be embarrassed – and if you have a debt that could risk your home, tell your bankruptcy attorney now.  Otherwise, you could risk losing everything.