A Successful Bankruptcy is Up to You
Guidelines to Follow
It stands to reason that since Congress passed the law on bankruptcy, debt forgiveness, that lots of ‘paperwork’ is essential in order to put together your case. So, what does this mean to you? First, it is extremely important to gather and organize:
- All your bills – including car & mortgage
- Tax returns for the last 2 years
- Information on back taxes owed
- Pay stubs for the last 6 months
- Information on all other income – (regardless of the source)
- List of all your assets
- When in doubt – include it anyway
- If you are married and want to file Bankruptcy as an individual, we still require all the information listed above for your spouse.
If you are married but are separated, do your best to gather as much information as you can.
Take this information (listed above) with you to your first appointment (free consultation). Why? Think about it, how can you get the most accurate advice and counsel unless you provide all your financial documentation.
If you are missing some ‘paperwork’ in most cases we can help you get the information that is missing.
- Keep your appointment(s) and promptness is appreciated.
A credit counseling session is mandated by Congress before your bankruptcy can be filed. This session can be taken in person, on-line, or by phone and cannot be avoided.
Meeting of Creditors – 341 Meeting
All bankruptcies include a Meeting of Creditors (341 Meeting).
The 341 Meeting is scheduled in advance so that you have plenty of time to make whatever arrangements necessary in order for you to attend. This meeting sounds scary, rarely do creditors show up and the court appointed trustee will ask you a few questions under oath. It is important to dress appropriately (this makes a good impression) and arrive at least 15 minutes before your meeting so you can meet with your attorney. Have with you your driver’s license (or your military ID) and your original Social Security Card, (if you cannot find yours – go to the Social Security Office and apply for a new one as soon as possible).
Absolutely no copies!
Whatever post bankruptcy payments have been agreed upon, it is imperative you keep your agreements and make your payments on time.
Post-Bankruptcy Debtor Education Course
In order for your bankruptcy to be officially ‘discharged’ you are required by law to attend a debtor education course. This course can take anywhere from 1 – 3 hours to complete. For your convenience this course may be taken in person, by phone or on-line.
It is very important to keep your bankruptcy attorney informed of any problem(s) or challenge(s) that may arise that has potential to complicate your case. It is always best to share bad news quickly.
The absolute key of having a successful bankruptcy is: to tell the truth concerning anything and everything pertaining to your case; listing all your creditors; not hiding any assets and/or income; go through all the required counseling/training sessions and finally make all agreed payments on time.
Be sure to stay focused on the outcome – a successful bankruptcy.