how to prepare bankrupt lawyer

The first step to prepare for bankruptcy is to gather proof of your income. Copies of your tax returns and copies of proof of income for the past six months are required when you file a Chapter 7 case. To prepare for bankruptcy under Chapter 7, you must complete the Chapter 7 Means Test.

Full Answer

How can the bankruptcy course help me prepare for bankruptcy?

The bankruptcy course can help you prepare for bankruptcy because it asks many of the same questions about income and expenses that you will answer as you complete your bankruptcy forms. The course is available online for a small fee.

Do I need a lawyer to file bankruptcy?

But since a bankruptcy filing involves legal matters, it can be challenging to navigate the bankruptcy process alone. You can file the case without legal help, known as going pro se, but experts typically recommend relying on a bankruptcy lawyer to handle your case.

What does a bankruptcy lawyer do?

A bankruptcy lawyer specializes in giving legal advice to a client about bankruptcy, prepares legal documents for the client and represents the client in court. An attorney must hold a law degree and be licensed in the state where they do business.

What are the steps to file bankruptcy?

1 Collect Your Documents. ... 2 Take Credit Counseling. ... 3 Complete the Bankruptcy Forms. ... 4 Get Your Filing Fee. ... 5 Print Your Bankruptcy Forms. ... 6 Go to Court to File Your Bankruptcy Forms. ... 7 Mail Documents to Your Trustee. ... 8 Take Bankruptcy Course 2. ... 9 Attend Your 341 Meeting. ... 10 Dealing with Your Car Loan. ...

Can I get free help with my bankruptcy case?

Yes, nonprofit legal services offer help to low-income people who either need an attorney to represent them in a bankruptcy case or are handling a...

How long does a bankruptcy stay on your credit report?

A Chapter 7 bankruptcy can stay on your credit report for up to 10 years, while a Chapter 13 bankruptcy may remain on your credit report for up to...

What types of debt can’t be included in a bankruptcy case?

Among the types of debt that can’t be discharged—meaning you’re no longer legally required to pay them—are most student loans, most taxes, child su...

How Do I Prepare For Bankruptcy?

Struggling with debts that you cannot pay is stressful and frightening. Many people are overwhelmed and do not know where to turn. They may consider filing for bankruptcy relief, but they do not know how to prepare for bankruptcy.

Prepare for Bankruptcy By Getting Copies of Your Credit Reports

The second step you want to take as you prepare for bankruptcy is to obtain copies of your credit reports. You can get free copies of your credit reports online every 12 months.

Prepare for Bankruptcy By Making a List of Your Assets

In addition to reporting your income, expenses, and debts in your bankruptcy case, you also need to report your assets. You need to list all the property you own and the value of that property.

Prepare for Bankruptcy By Completing Your Credit Counseling Course

You are required to finish a Credit Counseling Course as you prepare for bankruptcy. The bankruptcy course can help you prepare for bankruptcy because it asks many of the same questions about income and expenses that you will answer as you complete your bankruptcy forms.

Prepare for Your Bankruptcy Hearing

After you file your Chapter 7 bankruptcy forms, the bankruptcy court schedules the First Meeting of Creditors. Your bankruptcy hearing is conducted by the Chapter 7 trustee assigned to your case. To prepare for bankruptcy hearings, you should review your bankruptcy forms and any instructions provided by the court.

Prepare for Bankruptcy Discharge

To prepare for bankruptcy discharge, you need to complete the post-bankruptcy filing course. The Debtor Education Course is required to obtain your bankruptcy discharge.

Upsolve Can Help You Prepare For Bankruptcy

If filing a Chapter 7 bankruptcy case seems like a good solution for your debt problems, request additional information from Upsolve. We are a non-profit organization whose mission is to assist low-income families throughout the United States who are in financial distress.

Gathering Your Documents

Your bankruptcy petition cannot be completed without certain documents, so it’s a good idea to gather your paperwork together ahead of time and bring it to your appointment—especially if you need your bankruptcy completed quickly. Here’s your list:

Preparing Your Questions

It’s a good idea to write down any questions you might have and take the list to the meeting. Here are a few others to consider:

How can I prepare for my first meeting with my bankruptcy attorney?

The answer is that you can maximize the benefit of that first meeting – and greatly increase your likelihood of a satisfying experience with your attorney – by coming to the meeting prepared to answer your bankruptcy attorney’s questions.

What Your Bankruptcy Attorney Needs to Know

Your bankruptcy attorney needs to know about your assets, your debts, and your income and expenses.

Three Kinds of Debts

Oddly enough, of the three things, assets, debts, and income, your bankruptcy attorney will likely spend the least amount of time discussing your debts. At this stage, the character or type of each debt is more important than the balances.

Be Prepared to Talk About Your Income

Finally, be prepared to discuss your income with your attorney. The bankruptcy code says if you make too much money, you might have disposable income available at the end of each month to pay something to your general unsecured creditors.

Accounting for Expenses

As for expenses, identify documentation for recent out-of-pocket/non-reimbursed medical and dental expenses, ongoing childcare expenses, and ongoing charitable contributions. These are just a few of the allowed means test deductions, but they are the most common.

Contact a Trustworthy Bankruptcy Attorney

Your bankruptcy attorney is going to do most of the work; that’s why you hire them. But by taking steps to prepare information about your assets, debts, and income before your first meeting, you’ll likely have a productive first meeting with your attorney and lay the foundation for excellent representation.

What do I need to bring to a bankruptcy consultation?

Preparing for a bankruptcy consultation, no matter if you’re within the Southern District of California Department of Justice, or within another place of jurisdiction, mostly boils down to preparing the same important documentation to bring to your initial consultation:

What else can I do to prepare for a bankruptcy consultation?

Now, besides preparing all of the documentation that is extremely important for your case and which allows your bankruptcy attorney to have the perfect insight into your financial troubles, there are two other things you can do in order to prepare for a consultation with your bankruptcy attorney:

What to Do to Prepare for Bankruptcy

If you have made the decision to file for bankruptcy, do the following four things to make sure that you are properly prepared for the filing:

What Not to Do Prior to Filing for Bankruptcy

When preparing for bankruptcy, there are certain actions you should avoid taking before filing the necessary forms and documents:

How Legal Counsel Can Help

If you are considering filing for bankruptcy, you might want to discuss your unique case with a knowledgeable attorney to help you understand your options and the filing process. Here are several reasons to consider consulting with a bankruptcy lawyer:

Why start a bankruptcy law firm?

Bankruptcy law is a fairly straightforward and predictable area that allows you to help people in need of a fresh financial start. Be there for clients who are struggling to get out from under their mounds of debt.

How to start practicing bankruptcy law

Next, let's discuss starting your own law firm. Remember that it will take the right balance of business and law knowledge. But starting your own practice gives you lots of flexibility and control, and you can choose what clients you want to work with.

Marketing for lawyers

Of course, you won’t be able to attract new bankruptcy clients without the right marketing approach. Where do you begin?

What software to use

Next will be gathering the right tools so your practice is efficient. Legal bankruptcy software will give you case management and automation tools that will help you stay organized and better collaborate with other people. Use software that lives in the cloud so you and your clients can always access information no matter where you are.

Hiring paralegals for intake and admin

Another consideration for your new bankruptcy law practice is how to get an extra hand on your cases. Hiring a paralegal will free up a lot of your time so you can focus on your clients and the business while an experienced professional takes on data entry and administrative tasks.

Communicating with clients

Finally, set up a strategy for client communication. How will you consult with them? Where will meetings be held? Will you offer features like texting?

Summary

Starting a bankruptcy practice will allow you to help more clients in need and give you the flexibility to create the kind of law firm you want to run. Take these tips into consideration so you can market to the right people, use the right software, hire paralegals, and improve client communication.

How To File Chapter 7 Bankruptcy in 10 Steps

Your first step is to collect all your financial documents so you understand the current state of your finances.

What About Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is another type of bankruptcy available to consumers. The main difference to Chapter 7 is that you pay back some of your debts through the Chapter 13 trustee. Your monthly payment is based on how much you’re able to pay.

Let's Summarize..

Filing for bankruptcy takes some preparation. Hiring a good bankruptcy attorney is one way to file. But if you can't afford the attorney fees to hire one and you need a fresh start, Upsolve may be able to help. If you're eligible, our free web app will walk you through the process and help you prepare your forms for filing with the court.

Sources

American Bankruptcy Institute. ( 2002 ). Bankruptcy by the Numbers - Chapter 7 Asset Cases. ABI Journal. Retrieved August 3, 2020, from https://www.abi.org/abi-journal/chapter-7-asset-cases

Preparing For The Attorney’s Questions

Gathering Your Documents

Preparing Your Questions

• It’s a good idea to write down any questions you might have and take the list to the meeting. Here are a few others to consider: 1. What bankruptcy chapter should I file? 2. Will filing for bankruptcy wipe out all of my debt? 3. Will I lose any money or property if I file? 4. Will I have a monthly payment plan, and if so, how much must I pay? 5. Wh...

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