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6 Things to Do Before You File for Bankruptcy

what not to do before bankruptcyYou already know what not to do before bankruptcy, but do you know what you should do before filing?

If you’re considering filing for bankruptcy, there are a few things you should do first. Here are six things to do before you file for bankruptcy:

1. Get Organized

Collect all of your financial documents and get them in order. This will make it easier for your lawyer to review your case and determine the best course of action. When you file for bankruptcy, the court will require you to provide a complete and accurate accounting of your assets and debts. This information will be used to determine whether you are eligible for bankruptcy relief and, if so, how much you will be required to pay back to your creditors.

If you are not well-organized before you begin the process, it will be more difficult for you to compile the necessary information and documentation. This can delay your case and make it more difficult for you to get the relief you need.

Organizing your financial affairs before filing for bankruptcy can also help you make better decisions about which type of bankruptcy to file for.

2. Educate Yourself

Learn as much as you can about bankruptcy and the different types of bankruptcies available. This will help you understand the process and make sure you choose the right option for your situation.

3. Consider Your Alternatives

There may be other options available to you that can help you avoid bankruptcy altogether. Talk to a financial advisor or credit counselor to explore your options.

4. Choose a Bankruptcy Lawyer

It’s important to choose a qualified and experienced bankruptcy lawyer to represent you in court.

When choosing an attorney, consider:

  • Experience: Make sure your attorney has experience handling bankruptcies. This is an important process and you want someone who knows what they’re doing.
  • Knowledge: Your attorney should be up-to-date on the latest laws and know how to best help you under the current laws.
  • Compassion: This is a difficult time for you and your family. You want an attorney who will be understanding and compassionate towards you during this process.

5. Calculate Your Assets and Liabilities

You will need to know how much you owe and what assets you have before you can file. This information will be used to determine which type of bankruptcy you qualify for.

6. Attend the Mandatory Credit Counseling Session

Before you can file for bankruptcy, you must attend a mandatory credit counseling session. This session helps you understand your options and develop a budget. Your attorney can help you schedule your attendance at the mandatory meetings.

Do you want a list of things you should be doing? If you’re ready to file for bankruptcy or you’re considering it and you want to know how you can get “your ducks in a row,” we can help. Contact the Law Offices of Robert M. Geller at 813-254-5696 to schedule a free consultation.

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