If your bank account has been frozen, your personal wages are being garnished, or you are no longer capable of paying off your credit card or medical bills, you are most likely more than ready for financial relief. Thankfully, for many, filing for bankruptcy is just that. However, though bankruptcy can be the “light at the end of the tunnel,” it is, rather obviously, more complicated than waving a wand and having your debts disappear.
Filing for bankruptcy is an in-depth and document-heavy process, which is why you must consult with an experienced bankruptcy attorney about your legal options going forward. A good place to start, however, is being prepared for your meeting. Here are some basic questions you may have regarding bankruptcy prep:
How can bankruptcy help me?
Many people who file for bankruptcy seek refuge from creditors conducting seemingly endless collection activities. Bankruptcy gives people a new lease on life by allowing them to keep their home, their car, their bank account, and more, by discharging a significant portion of their debt. Bankruptcy may discharge credit card debt, personal debt, medical bills, automatic repossessions, and more. If you believe bankruptcy is right for you, please read on to learn more about what you should bring to your bankruptcy consultation.
What documents will I need to file for bankruptcy?
For an attorney to effectively assess your financial situation, you must provide accurate, extensive accounts of your debts and assets. Remember, you can never give your attorney too much of your financial information; the more complete the picture, the better. You should bring the following to your bankruptcy consultation:
- Photo ID and Social Security card
- Proof of your last 7 months’ income: employer statements, pay stubs, Social Security letters, and more. (Scheduled payments such as pensions, child support, spousal support, and more should also be disclosed.)
- Income tax returns
- W2 forms
- Property tax statement
- Property appraisal
- Vehicle purchase agreement
- Proof of car insurance
- Copies of your bills and evidence of all your debts
- Credit reports
- Collection letters
- Checkbook register
- Documentation regarding debt settlement
- If you own a business, bring any business-related documents you may have
If you believe you are ready to file for bankruptcy, please do not delay reaching out to our firm, as time is of the essence. We are ready to help you every step of the way, starting with a consultation.
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.
