Preparing to File Bankruptcy

• The first thing we would recommend if you are considering bankruptcy is to call us. However, there are some things you can do before meeting us to prepare for the bankruptcy.

• Stop using your credit cards. If you borrow money with the intent of having the debt discharged, then the debt is not dischargeable. You should consult an attorney before incurring any additional debt.

• Don’t make any large gifts or transfer property. Transferring property on the eve of bankruptcy can be considered a fraudulent conveyance, which could disqualify you for bankruptcy protection.

• Consider which debts to pay. Some debts (such as rent, utilities, care and mortgage payments) must be paid currently, but paying large sums to credit card accounts what will be discharged is likely a waste of money. Discuss with us which debts you should pay.

• Assemble important documents. See below for a checklist

• Relax. You’re not the first person who needs help with debt. Get ready for your fresh start!

• Below are the most common documents for you to gather up.

DOCUMENT CHECKLIST

• DRIVERS LICENSE

• SOCIAL SECURITY CARD

• Tax returns for PAST 4 YEARS.

• W-2 forms and/or 1099 forms for PAST 4 YEARS

• Credit card statements

• Pay stubs going back 6 months - Why? Because Congress requires this to prepare a "Means Test"

• Bank statement(s) (checking & savings)

• Copy of all Car Title(s), Boat Title(s), Motorcycle Title(s), Trailer, etc.

• Current statement showing balances owed on mortgages, cars etc.

• Bills of any kind with balances still owed

• Divorce Decree(s) & Separation agreement(s)

• Life, health, vehicle and other insurance policies

• Documents establishing IRA or pension plans.

• Educational loan statement(s)