The United States offers several different Chapters of bankruptcy. how to file bankruptcy chapter 7 All of these different Chapters can make it very difficult for an individual to know which one he or she should file. Before you decide on the type of bankruptcy you want to file, you should first understand each Chapter. The following tips will provide you with information on how to file bankruptcy Chapter 7.

Is Filing Bankruptcy Your Only Option?

Filing bankruptcy is a life changing experience. You should only decide to file a Chapter of bankruptcy after you all of your other possibilities have been exhausted.  

Find Out If You Meet Bankruptcy Chapter 7 Qualifications

Find out if you qualify for Chapter 7 before you submit any paperwork. The qualification is based on your income and the size of your family, and this qualification varies from state to state. To find out if you qualify in your state, you will need to file “The Means Test”. If you do qualify you can continue with the filing, but if you do not, you may only be able to file debt consolidation under Chapter 13.

Have a Consultation with an Experienced Bankruptcy Attorney

An experienced and knowledgeable bankruptcy attorney will be able to help you figure out if filing Chapter 7 is your best option. The attorney can even help you navigate the entire process. 

Complete the Required Credit Counseling

Bankruptcy courts require individuals to complete credit counseling before filing their bankruptcy case. If you file without completing the counseling, your case will be dismissed before you receive your bankruptcy discharge. The counseling can cost between $30 and $50, however, there are circumstances where the price may be waived. You can ask your bankruptcy attorney for a list of approved credit counseling agencies. 

Make Sure You Have All Required Paperwork Completed

There are several pieces of paperwork that you should complete before filing for Chapter 7. This paperwork includes:

  • The petition
  • Schedule of assets and liabilities
  • The debts included in the bankruptcy
  • Current income
  • Current expenses
  • Means test
  • Executory contracts
  • Other forms

It is important to stay in communication with your attorney so you will be sure that all of your paperwork is in order when you file. 

After you provide the trustee with your paystubs and attend a meeting with the creditors, you will then take a post filing financial course. Once all of these requirements have been met and approved, you will receive notice that your debts have been discharged. 

It is important when learning how to file bankruptcy Chapter 7 that you seek the advice and guidance of an experienced attorney. The attorney will help you get back on the right financial track. 

Are you looking for an experienced attorney who will help you determine if bankruptcy is an option for you? Schedule an appointment with Douglas Jacobson Law Firm to discuss your case with a knowledgeable attorney.