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A decision to file bankruptcy is a large step for anyone. For many
people, filing is the beginning of a much needed fresh start. Debt
payments should be reduced significantly, or wiped out altogether.
Creditor calls stop. Collections cases become moot. In the most basic
sense, filing bankruptcy is a positive step toward financial recovery,
so long as the decision to file was made carefully. Knowledge, planning
and creativity are the key to success.
A few of the items debtors need to file bankruptcy
Almost all attorneys provide their clients an extensive questionnaire
regarding their financial history. Clients should expect attorneys to
request answers to be signed, with an additional declaration that all
information is true, correct and not materially misleading. All
qualified attorneys wait until receiving answers, clarification and
documents from an individual before rendering legal advice, because
knowing the law is not enough.
The individual financial history of each client is unique, and to a
large extent, determines which options and alternatives are available.
At a minimum, clients will also be asked to prepare a complete list of
all creditors, a list of all assets owned, with values, and provide
answers to questions about financial accounts, lawsuits, attorney fees
paid, and a thorough list pertaining to transfers of property during the
year. Answers to many these questions will be verified by the court
and/or trustee.
For more filing information, see also:
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