How To Claim Bankruptcy A Simple Set Of Steps

There are times in a person’s life when debt becomes impossible to manage and is out of control. The debt to income ratio becomes too broad and bankruptcy is the only option. Before filing for bankruptcy it is important to weigh all other options. Try debt consolidation and other avenues. If nothing works, the first step is to find a bankruptcy attorney that works in the state where the bankruptcy will be filed. An attorney can show you how to claim bankruptcy and can assist you in every aspect of the process.

The judge will request all financial records such as stocks, detailed list of personal assets, bank statements, mortgages and income.  Be sure to go back at least four months. Do not try to hide anything, leans, loans, debt or any other financial item. The court will find out. It is important to be sure that all documents are in order or they can be disputed. It is beneficial to document all transactions for the past four months so that the judge has detailed records to go by. This way the debtors will not have anything to dispute.

Follow all of the judge’s orders. If he or she asks for more records after the first hearing, be sure to provide all of the papers that the court asks for and have them ready by the date that the court has requested. Go over all information with the attorney. Know every detail about the procedure. Ask the attorney questions even if they sound dumb. There are no stupid answers, just unprepared responses. Show up for all court dates. When going to court dress in a professional manner. Be clean and well groomed. It looks much better to the court when the claimant is professional.

Be prepared to answer all of the questions that the bankruptcy judge will ask. It is best to not be caught off guard. Most important follow the directions of the attorney, he has done this before and knows exactly what needs to be done for the bankruptcy to be successful.