One of the primary benefits of Chapter 7 bankruptcy is the discharge of many forms of debt. However, it is important that individuals considering filing for Chapter 7 carefully research their options and take steps to prepare before going ahead with the process.
Getting Ready to File for Chapter 7
There are many steps that must be taken before your bankruptcy case can be filed. In order to help ensure that your bankruptcy filing is approved, you should work with an experienced bankruptcy attorney in order to:
- Determine eligibility
- Take a means test
- Collect the required documents
- Write down all assets
- Receive credit consultation
- Keep track of deadlines
Taking these steps will help make the process of filing for Chapter 7 run more smoothly. It is important to note that applying for bankruptcy is not a quick process. It can take between 4 and 8 months from beginning to end. Delaying your filing may result in extended and avoidable hardship. An experienced bankruptcy attorney can help ensure that your preparation is thorough and that you are truly ready to file.
Because of recent changes to bankruptcy laws, qualifying for Chapter 7 can be more difficult than it was in years past. As a result, it is essential that you prepare your finances before you begin the process. Contact the Milwaukee Chapter 7 bankruptcy attorneys of DeLadurantey Law Office, LLC at 414-377-0518 to discuss your situation with a legal professional.