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3 Points to Consider When Filing for Bankruptcy

Posted By Allmand Law Firm, PLLC || 19-Aug-2013

Deciding to file for bankruptcy is a significant step toward improving your finances. Whether you have decided to file Chapter 7 or Chapter 13 bankruptcy, one of the most important steps you should take includes getting to know the process and what to expect. In this sense, it helps to make the filing process easier when you know what lies ahead.

  1. Take time to plan ahead before your case is filed. Understanding filing decisions and taking a few extra moments to prepare may help you in achieving a favorable outcome. Note things you should avoid when preparing to file and if you are married, decide whether it is best to file jointly or individually. In short, do your homework on the process for the chapter you intend to file so you don't inadvertently sabotage your intended outcome.

  2. Make sure you have all documents prior to filing. When you file you will be required to provide certain documentation that will provide details for schedules, the bankruptcy petition, and other related information pertaining to your case. This helps speed up the filing process when documentation is in order. Note that you are required to complete credit counseling prior to filing. You may be required to provide a certificate of completion when you file your petition.

  3. Seek professional help from an experienced Dallas-Fort Worth bankruptcy lawyer . It is often advised to have legal representation instead of trying to complete the filing process on your own. The bankruptcy code is complex and working with an bankruptcy expert greatly improves chances of a favorable outcome.

Categories: Bankruptcy
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