Debt is something that can wreak havoc on a person’s life. When someone is dealing with more debt than they can handle, it is imperative they seek prompt help from an attorney so they can learn about the possible options for chapter 7 bankruptcy. Knowing how to get started filing will help individuals to overcome any anxiety they might have about seeking help from an attorney.
What to Expect
When an individual is getting started on the process of working towards bankruptcy, they need to schedule a consultation appointment with the bankruptcy attorney. A consultation appointment is the first step in the process and will allow a person to become educated about their legal options. The more a person knows, the better equipped they will be to make the right decisions towards attaining a fresh start.
To the meeting, a person needs to bring in their tax records, information on the debts they owe, their income, and assets. The more information a person can bring to the meeting, the better the chances of the attorney being able to help them.
Before a person can file for this type of bankruptcy, they will need to pass means testing. This type of testing ensures the individual meets the requirements of income. If a person’s income is too high, they will not be able to file chapter 7.
Another requirement is for the individual to complete a credit counseling course that is approved by the court. This course helps the individual learn how to better manage their money and make important financial decisions.
The individual will be required to list all assets and personal property they own so the court-appointed trustee can decide which assets are exempt and if any can be liquidated to pay off the debts the individual owes.
Schedule an Appointment
Filing for chapter 7 bankruptcy does not have to be difficult when a person hires an attorney to help them. The attorney takes over each step in the process of filing for bankruptcy and helps their client understand the process so they do not feel overwhelmed.
Although an individual has the right to pursue bankruptcy without legal help, this is not always recommended since the process can be confusing for those who do not know the laws or what to expect.
If you would like to file bankruptcy and want legal intervention, call the office right away to get started. Allow them to schedule your appointment.