How to File Bankruptcy Yourself

Want to know how to file bankruptcy yourself? Then you are most likely in a precarious situation. The increase in the number of annual bankruptcies of individuals and companies per years has overwhelmed the economy immensely. If you are in the situation where you want to learn how to file bankruptcy by yourself, make sure that there are no other options before you pursue this course, as it is irreversible and an inerasable stamp on your record.

Things You'll Need

• A lawyer or counselor that can help you know what steps you need to follow.
• Paperwork of your past debts
• Your bank statements
• Any past due bills
• The statements of creditors requesting money
• Available funds to cover the costs of lawyers and court fees

Instructions

1. Before learning how to file bankruptcy yourself, you need to know that there are different types of bankruptcy, with the most common being chapters 7 and 13. Chapter 7 is more difficult to file because of the complete liquidation, while chapter 13 includes a repayment plan. There is a means test that is required to determine the type of bankruptcy you can file.

2. Meet with your lawyer so that he can explain more about how to file for bankruptcy yourself and go through your paperwork. Share your situation honestly with your lawyer so that he can represent you completely. Also, make sure that you understand the fees that will be required as a result of the bankruptcy case. This is never an easy thing.

3. Once you have met with your lawyer, have all calls and questions referred to him so that he can clearly state your case. This also helps protect you from creditors. Your lawyer will soon request a meeting with your creditors so that he can talk with them about all your debts and possible assets.

4. Once the court date comes around, you will go with your lawyer to present your case. Make sure that you are there and that you witness honestly on your behalf. If you are filing for chapter 7 bankruptcy, the judge will look at your possible assets and determine whether they are viable for dividing between your debtors. If he decides that you do not have enough assets or that they should not be used for these purposes, you will keep all your extra items. If you are filing for chapter 13 bankruptcy, the court will give you a 3-5 year repayment plan that will help you pay off your debts to the creditors.

Tips & Warnings

• While you are pursuing your bankruptcy case, do not use your credit card for any reason. This can cause many problems in the court case.

• Do not try to lie about any information regarding money you have received and debts that you have in other places. This can cause you to be charged with perjury.

• Remember, this event will leave a blot on your credit record, but you can work it off in the next several years.

Resources

• Get Max Benefits Filing for Bankruptcy