Steps to Take Before Filing Bankruptcy
The Law Office of Charles Rich
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Filing for bankruptcy is fairly straightforward and can happen within a short period of hiring a bankruptcy attorney to begin the process.
That said, there are still a number of important steps to take before you can file for bankruptcy — whether you file Chapter 7 or Chapter 13.
Memphis attorney Charles Rich has been practicing bankruptcy law in the Memphis area for more than 30 years. He has helped thousands of people use bankruptcy to get a fresh financial start, and he personally guides each client through the entire bankruptcy filing process — including every step that must be taken before the filing. Contact our law office for a free and confidential consultation with an experienced bankruptcy lawyer.
Gather Your Financial Documents
The more information you can bring with you to your initial consultation, the better. We cannot give you advice about which type of bankruptcy is best for you — nor can we begin the filing process — until we understand all the details of your financial circumstances. During our first meeting, we will give you a questionnaire to fill out with information about your income and debts.
Talk to Your Creditors — or We Can Talk to Them for You
Depending on your specific situation, we may advise you to talk to your creditors before filing bankruptcy. If you prefer, we may be able to handle this negotiation on your behalf.
For example, if you are behind on your mortgage payment and considering filing Chapter 13 bankruptcy, we may suggest that you contact your mortgage holder to ask about making a repayment plan without bankruptcy.
Or, if you are considering filing Chapter 7 bankruptcy, we might recommend that you first contact your creditors — such as credit card companies, auto loan holders or hospitals — to ask about working out a manageable repayment plan without the need for bankruptcy.
The Bankruptcy Laws Require Credit Counseling Before You Can File
In 2005, the bankruptcy laws underwent major changes. One of the biggest changes is that every individual who files for personal bankruptcy must first attend a credit counseling session.
We can refer you to a convenient credit counseling location in Memphis. Or you can complete the credit counseling session via an Internet credit counseling provider.
You cannot file for bankruptcy without proof that you have completed a credit counseling session.
More Information About Bankruptcy
Provided by the Law Office of Charles Rich
If you have questions about your specific situation, the best course of action is to contact our law office to schedule a free and confidential initial consultation.
However, as a service to our potential clients, and to help you understand the general process of filing for bankruptcy, the Law Office of Charles Rich provides general information about bankruptcy on the following pages of our Web site:
- Bankruptcy Information Center
- Bankruptcy Overview
- Chapter 7 Bankruptcy
- Chapter 13 Bankruptcy
- Stopping Home Mortgage Foreclosures
- Life After Bankruptcy
- Bankruptcy Myths
Complete our bankruptcy case evaluation form.