Important Tips to Consider When Filing For Bankruptcy

One of the most concerning times in anyone’s life is when they are considering filing for bankruptcy. While the bankruptcy process is complex, daunting and document-heavy, there are several things you can do to make the experience go as smoothly as possible. While of course, the most important thing you do is hire a knowledgeable bankruptcy attorney who has guided several people to a safe harbor in the past, there are many other actions you can take to prepare. Please read on to learn more about the bankruptcy process and what you can do to help yourself.

  • The most important thing you can do is remain honest with your lawyer and in all the paperwork and documentation you submit. Though it may be tempting to either withhold or change certain information you may deem negligible, especially when you are deep in a financial hole, this will only make things worse. The most important thing you can do is fully disclose all financial information your attorney deems relevant to the case. This includes disclosing all large purchases and payments you have made within the last three months to creditors, friends, or relatives.
  • Creating a budget is one of the most important things you can do to ensure the bankruptcy process goes along smoothly, as well as prepare for your future. Our firm would be happy to help you devise a budget plan that will work best for your specific situation.
  • If you have vehicles you would like to keep, you must ensure you continue making routine payments towards them. When an individual filing for bankruptcy defaults on a payment, creditors may try and repossess the vehicle, and they are not required to notify you before doing so.
  • Be proactive! Perhaps the most important thing you can do when considering filing for bankruptcy is to speak with an experienced bankruptcy attorney as soon as you possibly can. As soon as you receive any creditor-related letters or phone calls, it is time you reach out to an attorney familiar with the bankruptcy process. The sooner you address these issues, the better.

If you believe you are ready to file for bankruptcy, do yourself a favor and reach out to our experienced bankruptcy firm. We are ready to help you in any way we can.

Contact our experienced New York firm

Bankruptcy, for many people, is a frightening endeavor. Fortunately, with the help of an experienced attorney, it does not have to be. If you require the services of an experienced Business Law or Bankruptcy attorney, contact the Law Offices of Allen A. Kolber, Esq. today to schedule a consultation and discuss your options. We will have your back every step of the way.