Deciding to file a Chapter 7 or Chapter 13 bankruptcy can be a difficult decision. You are probably getting a lot of advice from friends, family and even online. A few helpful tips to consider before you file your case are:
Retain an experienced bankruptcy attorney
When you are choosing a lawyer to represent you, it is essential that you retain an attorney who practices in the area of bankruptcy law. You should feel confident that your attorney is fully equipped to handle all issues associated with your case. Additionally, always ask how much the attorney will charge to represent you and what services are provided for that fee.
Pay your house payment if you want to keep your home
It is a common myth that homeowners can stop paying all of their bills when they are going to file for bankruptcy protection. However, if you intend to keep your assets pledged as collateral for secured loans, such as your home or your vehicles, it is essential that you try to keep current on your payments. If you fail to remain current on payments, your secured creditor may be allowed to foreclosure on your home or repossess your vehicle in a Chapter 7. In a Chapter 13 filing, you may be permitted to get caught-up on your delinquent payments, but your monthly payment will increase during your bankruptcy case.
File your tax returns
It is important that you file your tax returns before you file your bankruptcy case, or at least be prepared to file them shortly after your filing. Your case can be dismissed for failure to file tax returns.
Organize your financial records
Before you meet with your bankruptcy lawyer, it is helpful if you have all of your financial records organized. All debtors are required to disclose all assets, debts, income and expenses. Failure to be honest in this disclosure can result in loss of your discharge of debts, a monetary fine, or even jail time.
The “defender of the little guy,” DeLadurantey Law Office, LLC handles bankruptcy matters (Chapter 7 and Chapter 13) in Milwaukee, South Milwaukee, West Milwaukee, and Milwaukee County, including the municipalities of Bayside, Brown Deer, Cudahy, Fox Point, Franklin, Glendale, Greendale, Greenfield, Hales Corners, Oak Creek, River Hills, Shorewood, St. Francis, Wauwatosa, West Allis, and Whitefish Bay. The firm also can handle your debt negotiations, debt relief, and mortgage loan modifications. Contact DeLadurantey Law Office, LLC by phone: (414) 377-0518. Like us on Facebook.