What To Do Before Filing Bankruptcy
Filing for bankruptcy is fairly straightforward and can happen within a short period after 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 40 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.
Pay Attention To Upcoming Dates
Is there an upcoming foreclosure, repossession or cutoff of utilities? It is extremely important to determine these dates and setup an appointment with us with enough time before these dates so that we can work with you to stop any of these from occurring.
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.
Call Us Today For Help And More Information
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. You can call our office in Memphis, Tennessee, at 901-201-6163 or 866-935-6740.