Top Things You Must Do Before Filing For Bankruptcy

To qualify for bankruptcy, you must meet certain conditions set forth by bankruptcy laws, and you can find out if you qualify by talking to a bankruptcy lawyer. If you do, there are several important things you should do before you file, and here are some of the most important things you will need to do.

Explore other options for debt-relief

One good thing to do before filing is to explore other options for finding relief from your debt. There are a lot of good debt- relief strategies available that you could use, and one of these options might be better for you. For example, you might be able to use debt-consolidation or a debt-settlement plan. These are two common alternatives to bankruptcy, and it is always a good idea to fully understand all your options before choosing one.

Make sure you have a list of every single debt you owe

If you decide that bankruptcy is the right fit for your situation, you should work on making a list of every debt you owe. If you need to, pull a credit report to see if it shows any debts that you did not know about it. When you meet with an attorney to file for bankruptcy, you must include every debt you owe. If you find out after filing that you owe money to other creditors, it will be very hard to add them to your bankruptcy case. It is always better to add them on your initial paperwork if you want to receive debt forgiveness for them.  

Take the first credit counseling course

The other important thing you must do before you file is take a credit counseling course. When you file, you will end up taking two classes total, but you must complete one of these courses before you file. If you do not complete the course, you will not be able to file. The other course is one that you must take after you file. Your attorney will give you the name of a company that offers these courses, and you will most likely be able to take both of the courses online at a time that is convenient for you.

These are three important things you will need to do if you want to file for bankruptcy. If you would like to find out if you are eligible for it or how it could help you, talk to bankruptcy attorney services in your area.