Filing bankruptcy can be a hard decision to make and a scary process to navigate alone. If you are ready to look at the possibility of filing you need to make sure you have a competent chapter 7 bankruptcy attorney by your side to walk you through the process and ensure that your best interest are protected. Even if you feel your filing will be a fairly simply one and you can clearly establish your income is too low to pay off your debts in your lifetime you need to have a qualified attorney at every step of the process. An attorney can help you decide which type of filing you need, chapter 7 or chapter 13. If you are not trying to work out a repayment plan and keep assets you are probably interested in the more common chapter 7 filing and not a chapter 13. Since the effects of a bankruptcy will affect your credit score and your ability to finance a future house or car or get any kind of unsecured loan you need to fully understand the deep impact of this choice and your chapter 7 bankruptcy attorney will help you understand the entire process.
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When you get ready to file for chapter 7 there are some things you will need to have ready to show your chapter 7 bankruptcy attorney so they can file the court paperwork including a list of all of your debts and your assets. So all of those bills you have been throwing out in the hopes that they would resolve themselves you will now need to start keeping so you can declare them on your filing. You will also need to have a copy of your latest tax returns and any proof of your income and assets. Once you have gathered your paperwork together you have the starting place to sit down with a chapter 7 bankruptcy attorney and go over your filing. Your attorney can help you understand what you will be able to declare and what debts you cannot write off such as IRS debts and child support.
Once your attorney files your paperwork with the federal bankruptcy court you will have a date set to appear in court and your debtors will have the chance to try and collect their debt from any assets the judge decides you do have at that time. Your attorney will go over your assets with you so you won't have any surprises in court but in all likely if you have more debts than assets your debtors will simply have to write off their debts. So once your court date is over and the judge grants your bankruptcy relief you should be able to have a fresh start to start rebuilding your credit again.
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