What are the basic steps of bankruptcy proceedings?

Filing personal bankruptcy can be scary. Your life may feel disheveled, you may not know how to get through this time, or you may just feel overwhelmed. Taking a step-by-step approach can help you focus on the task at hand, and get you through to the end result, which is hopefully, discharge of some of your unwanted debts.

Bankruptcy Basics

A typical personal bankruptcy involves the following steps:

• If you are going to hire an attorney, or simply want to get a consultation (which is often free), first take that step. Try to get a recommendation from someone who has filed before or ask for references.
• Prepare the paperwork. You will need to fill out the bankruptcy paperwork, or have an attorney do this based on the information you provide. In this, you will state each and every creditor and all of your income and assets.
• Before the papers are filed, you must get pre-fling counseling. After they are filed and before discharge, you will need to complete an education course as well.
• You will attend a meeting of creditors at which some or none of your creditors may appear.
• Discharge of debts comes last.

Getting Legal Help

While you may not want to even think about spending any money because of your debt situation, getting an attorney to handle your case can save you time and money. Bankruptcy law is complicated, and an attorney will be able to get your case in and out of court as quickly as possible, eliminating as much debt as possible.