When you are neck-deep in debts and are unable to pay them off, you may want to consider bankruptcy to get your debts discharged. Bills and collectors can physically and mentally drain you, your aims, endeavors, relationships and performance. But if you don’t file bankruptcy properly, you will have to deal with an agitated horde of creditors and a militia of lawyers that will suck you financially dry, therefore, how to file bankruptcy is an important question when you are going for bankruptcy. There are certain categories, e.g. chapter 7 and chapter 13 bankruptcies, which type is the right choice for you depends on which type you qualify for. If you are considering bankruptcy, but cannot afford to hire an attorney, you must have comprehensive and reliable information about how to file bankruptcy. You can get the best advice and file bankruptcy on http://www.bankruptcyformprocessing.com/.
The first thing you need to do is to think about whether you really need to file bankruptcy. If it is necessary and there is no other way to get discharged from your debts, then you should go for it. The reason you have to be so careful is that you can file bankruptcy once in six years. After that, you should analyze whether you can afford an attorney or whether you want to file bankruptcy yourself. Then, you must evaluate that what kind of bankruptcy you should chose according to your requirements and qualifications for bankruptcy. There are certain advantages and disadvantages of both chapter 7 and chapter 13 bankruptcy.
Here’s how to file bankruptcy that is known as Chapter 7 Bankruptcy:
The most difficult step for you in filing for chapter 7 bankruptcy is to qualify the means test. An analysis is performed on your property and income and you are provided with a chapter 7 protection only if you don’t have enough income to pay your debts.
Follow the federal rules of bankruptcy because if you fail to follow these rules, your case can be dismissed by the court. You have to take a credit-counseling course before filing for bankruptcy because you are not eligible to file bankruptcy before this counseling. Fill out a bankruptcy form provided by the court and file the petition along with all the necessary documents and information needed and pay the court fee of filling chapter 7 bankruptcies. You can easily get the form at www.bankruptcyformprocessing.com.
If you have chosen chapter 13 bankruptcy, you must have information on how to file bankruptcy chapter 13:
First of all, take a copy of a report about your credit from Equifax or Transunion. After that, write down any other debts you have, e.g. tuition fee child care, etc. Take the copies of your recent paychecks, bank statements and tax returns or their copies. Make a list of your property including real estate, jewelry, savings and vehicles. Take the bankruptcy forms, read them carefully and fill these forms completely with all necessary information. Take the completed signed forms along with required documents to the court and file the petition. Pay the court fee to file for chapter 13 bankruptcy. You will be called for a creditors meeting by the court after 20 to 50 days of filing the petition. The court will then propose a plan for you to make payments to your creditors regularly that you will have to follow.
Confused or have questions? Go here