What to Do Now If You Intend to File for Bankruptcy Next Year

garnishment attorneyIf you intend to file for bankruptcy in the New Year, there are certain steps you must take to ensure their filing meets all legal requirements. This is especially true if you are facing wage garnishment or other legal action against you. A wage garnishment attorney or bankruptcy attorney can assess your situation and help you determine the best way to proceed.

Whether or not you ultimately decide to file for bankruptcy, what can you do now to make the process as smooth as possible if you do decide to file?

Organize Your Financial Information

Organizing your financial information is the first step in preparing for bankruptcy. You should ensure that you have copies of all relevant documents, such as bank statements, credit card statements, tax returns, loan agreement documents, and so on.

It is also important to make sure that your information up-to-date. If it isn’t, it could lead to delays or even rejection of the filing.

Contact Your Creditors

Creditors may be willing to negotiate with you on repayment terms or agree to other arrangements such as debt settlements or debt consolidation plans. However, this should only be done if it is beneficial and does not put you at a worse disadvantage financially.

Understand the Different Types of Bankruptcy

Before choosing what type of bankruptcy you want to file for, you must understand the available types

There are three main types of consumer bankruptcies:

  • Chapter 7 (liquidation) bankruptcy
  • Chapter 13 (reorganization) bankruptcy
  • Chapter 11 (business reorganization) bankruptcy

Each type has its advantages and disadvantages; understanding these differences is essential when deciding which type would be best for your client’s situation. Understanding the differences in these types of bankruptcy helps you make important decisions about your situation. An attorney can explain these differences to you and help you determine whether you qualify for Chapter 7 or Chapter 13.

Keep in mind, there are situations in which a person files for one type of bankruptcy and later converts their case to another type. Despite the ability to make changes, it’s still important to make the best possible choice right from the beginning.

If you are struggling with debt and considering bankruptcy, it’s important to know what you can do immediately to make the future easier. Working with a garnishment attorney helps you make the best decisions. To learn more, contact the Law Offices of Robert M. Geller at 813-254-5696 to schedule a free consultation with an experienced attorney.


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Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
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