Although you try to do everything you can to keep your finances in check, there are certain things that are out of your control. One of those being when your company decides to start cutting hours or laying people off. What you thought was a consistent paycheck is now thrown out the window and you are left struggling to figure out how to pay your bills each month. Here is where a Chapter 7 bankruptcy might be able to help you regain control of your finances and put you on the path to financial freedom. Make sure to bring these three pieces of information with you when you speak with a bankruptcy lawyer.
Proof of Income
One of the main things the attorney needs to determine if you are eligible to file for bankruptcy is proof of how much money you make. Take six months of recent paystubs and a couple of years of tax returns with you to make sure you have plenty of information available. This allows the attorney to go through your finances and determine if your income meets the needs test or not.
The attorney needs to see what debts you have outstanding. Make sure to take any delinquent debts, as well as all of the bills you are currently paying out each month. This will help the attorney determine how much debt they are dealing with when preparing your case. It helps them determine what the final cost is going to be for your case and how much time they are going to need to get everything prepared and ready to go to court. More creditors is going to end up meaning more money out of your pocket to get the case filed since it takes the law office longer to get everything ready to go.
Titles to Vehicles and Land
Take any titles to vehicles, land and recreational items. This lets the attorney know what items you want to keep and how to best classify them to prevent your losing out on these items in the case. They can claim them as exemptions to make sure they are protected. Any items that you own that could be sold for cash need to be disclosed to your attorney so they can take care of them properly.
To find out more about how to file your bankruptcy case and to avoid wage garnishment, contact an attorney for additional information and to schedule a consultation.Share