Dealing with the reality of your financial situation may feel like a heavy
burden, but filing for bankruptcy protection may be the only viable solution
to get the relief you need. As an important step in regaining control
over your finances, there are a few crucial steps you should take when
making the decision to begin the filing process.
The following things are a few of the most important elements of filing
that play significant roles in getting the help you need sooner rather
Get informed about bankruptcy options. If you feel bankruptcy is your next step you should get educated about
how the process works, which chapter is likely the best option for you (Chapter 7 or
Chapter 13), and get answers to questions to have about the process.
Contact an experienced bankruptcy attorney. This is a good time to get answers to questions you may have about filing.
Get answers on how assets can be protected, which chapter is right for
you to file, which debts are eligible for elimination (discharge), and
review necessary filing requirements.
Make sure your taxes are filed. Being current with your tax filings is important. You may not be able
to move forward with bankruptcy proceedings unless your taxes are filed
through the prior tax year. This is a crucial step for anyone who may
be eligible to discharge old tax debt.
When you begin the filing process (for either chapter) you are required
to complete a credit counseling course. In order for debt to be discharged
you should have the financial management course completed.