Dealing With the Steps To Begin Bankruptcy

Many people are under the assumption that once you decide to go bankrupt that all that is left to do is to go and see a bankruptcy attorney or trustee and begin the proceedings. While it is certainly true that you will need to seek the advice of an attorney and will need a trustee as well, there are things you will need to do to prepare yourself for filing.

The very first step you need to fully consider is if bankruptcy is really your best option. Go over your finances with a fine toothed comb. Contact creditors and determine if you have any other options. Try and make some lifestyle changes that will enable you to possibly avoid bankruptcy.

Only after answering all of the pertinent questions and after a careful consideration of the consequences should you consider bankruptcy. If you have done your due diligence and have made the decision to file you need to understand the steps involved in the pre-filing process.

You will be required to undergo a pre-filing credit counseling session at least 180 days before you file. This session will help you to not only understand the terms and conditions to filing but may also help you find an alternative to filing that you may have not recognized on your own. Preparing to file means gathering all of the pertinent documents that you will require for filing. The list is quite extensive and you will need advice on exactly what to compile, so be sure to talk to a qualified attorney before you begin the process.