How To Prepare A Chapter 13 Bankruptcy Case ?
Filing for bankruptcy may seem simple only if you are diligent. There are many important steps involved with filing for Chapter 13. They are very complex and have to follow a certain order. Bankruptcy is a life saver but also a life-changing experience for many. It presents an opportunity to repair your finances, and gives you a fresh start. You should be very careful in taking this important step for a better financial future. |
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Here are some tips to prepare a Chapter 13 bankruptcy filing:
You should first decide whether you are going to file by yourself or hire an attorney. Attorneys are expensive but they will do it diligently. If you are diligent enough, you can save yourself hundreds of dollars in attorney fees.
Every State has different rules and you need to file the correct paperwork for the State you reside in. You can do this online, or with an attorney, and also directly at the courthouse. If you make mistakes on the form, you can delay the entire process.
Some States require you to go for bankruptcy counseling or debt management classes.
This proves that you are determined to correct your finances and mend your expenditures.
All the financial statements to be presented in the court need to be neatly organized. Some of the documents that you would need are bank statements, mortgage agreements, car loan agreements, payment details of all the loans you wish to file, school loans, and credit card. Your income statement, all sources of income, assets and properties also have to be declared.
Follow the instruction page verbatim and do not miss out on anything.
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