You may think that bankruptcy can be the answer to all your financial problems and depending on your particular circumstances you may be right, but it can also be a complicated and long drawn out process. The best move you can make is to seek advice from a legal professional who is familiar with the laws governing the various bankruptcy chapters. Look for an attorney who specializes in these kinds of cases and has had plenty of courtroom experience.
Be prepared before you meet with your bankruptcy attorney. He will want to start out by determining which type of bankruptcy is best suited for your situation. This will depend on your income, the amount of debt you have built up and whether or not you own real estate. All this information will be have to be documented by pay stubs, property deeds and loan agreements. Bring copies of stock certificates and proof of ownership of any personal assets. Your lawyer will also need to go over your recent tax returns. You may receive a form from your lawyer’s office with questions pertaining to the upcoming meeting and a list of documentations that you will need to present. Getting some basic information out of the way beforehand will save his time and yours.
Any investments that you may share with a partner, friend or family member, a vacation home for instance, will be considered an asset. You will also need to report funds or property that you have transferred ownership of as well as an inheritance that you are likely to be receiving or a tax refund that is due to you.
Do your homework. Use the internet to gain a basic knowledge of what to expect when going through bankruptcy. The more you know going in, the better able you will be to ask pertinent questions.
Parker Lawyers offer years of experience in dealing with bankruptcy cases. Call 303-841-9525 to set up a consultation meeting at your convenience.