There may come a time when you realize that the best way to improve your financial situation is to file for Chapter 7 bankruptcy. You'd hoped that it wouldn't come to this, but it may be the best thing you can do at the present time.
If you're considering Chapter 7 bankruptcy, you'll want to start by collecting all the right documents. These include but are not always limited to the following:
- Recent bank statements
- Recent bills from creditors (as well as any collection notices)
- Payment coupons for student loans, real estate and vehicles
- Any bills for purchases you have made over the past 12 months
- Files from any previous bankruptcy filings
- Files from any lawsuits brought against you by creditors
- All insurance policies
- Vehicle titles
- Tax returns for the past three years
- Any proof that someone owes you money
- Documents associated with any debt that you have
It's not always easy to collect all this information, but it's something that you need to do if you are going to file for Chapter 7 bankruptcy. It's best to get this in order right away rather than to find yourself rushing around once it's required of you in the near future.
Filing for Chapter 7 bankruptcy is easier said than done, but once you have everything in order things will begin to come together.
As long as you collect the right documents early on, you'll have everything you need in order to move forward with the process. The smoother things go, the more you'll feel that this is the right decision for you at the present time.
Source: FindLaw, "Checklist: Documents To Show To Your Bankruptcy Attorney," accessed Sep. 25, 2017