Once a person or a married couple falls within a certain amount of debt, it may be very difficult to recover from it without filing for bankruptcy. Doing so will help you get started on a plan to reduce and pay off all of your debt. While struggling through these hard times, it may be hard to think that you need to hire a lawyer to help you through this. Although often times it is very helpful and necessary to have an attorney's help, here is how you can get the process started yourself. Or, if hiring an attorney, one may use this information to see what all needs to be done throughout the processes.
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The first step you will need to take is contacting all of those to whom you are in debt that will be in your chapter 13 bankruptcy case. You will be required to retrieve all of the information you can about your business with them. This includes the business's current address, their telephone #, your account info. with them, the date you gained your debt with them, and the total owed sum.
Next, you will need to amass other information. Items you will need to find are your spouse's name, residential address, telephone #, social security #, age, and tax ID if they have one. List any addresses you have had in the past 2 years, along with all income information. This includes gross pay from work, taxes and deductions, any real estate you may own and furnishing you possess. Furthermore, any gifts that were given to family that were over one hundred dollars also need to be included. If you have had any losses due to burglary, fire, or gambling, include this information along with reports and amounts.
Next, you will have to collect any paperwork about your present and past debts. These may include case numbers, dates on which you filed other bankruptcies over the last few years, and payments related to other bankruptcies. Also include any expenses of sums unpaid covering more than six hundred dollars made in ninety days from the trial.
Now you may collect a list of any property transfers. These include any disclosures of properties that are owned by another but that is within control. One must also give details of accounts stopped within the previous year, such as location, who used it, contents and surrender day of any safety deposits. One also should include other information like repossessions, foreclosures, or sales returns that happened within the previous year before the bankruptcy suit.
Now you are ready to make a trip to the local bankruptcy court and get the needed forms. It may sound like a large task, but taking care of these things along with a lawyer or by yourself will ensure a smooth process, helping you to start over with a clean sheet as quickly as possible.
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