If you are in the dire financial situation of being entirely unable to repay debts that are owed to creditors, then you might be someone who has spent a long time procrastinating over payments. But one thing you cannot procrastinate over is the bankruptcy preparation, if you make the decision to go ahead and file.
In terms of bankruptcy preparation, there is a lot you can do to get yourself ahead for the time you come to file. Of course, the first thing you should do is to speak to a bankruptcy attorney. In addition to that, you should attend your meetings with the lawyer well prepared and equipped with the information and organisation you need. It will make you a good client and it will make you feel more confident about the process.
You should ensure that all your preparation and paperwork for your house is completely. Find all your documentation as this will help your lawyer to ascertain exactly where you stand and what your next step should be. It might even result in a lower legal bill, given the fact that your lawyer will have to spend less time explaining the basics of the process to you. In situations where a lawyer charges by the hour, which are incredibly common, it can make a massive financial difference.
Other bankruptcy preparations you can make include writing down your income and expenses, every single thing including wages from your main job and any secondary income you might have. You should detail all expenses and outstanding debt and so on so that your lawyer can ascertain your eligibility for bankruptcy in the first place. You will also have to be prepared to answer questions about why you need to embark upon filing bankruptcy and should be able to prove that this is a last resort for you.
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