The first thing we would
recommend if you are considering bankruptcy is to contact
an attorney. However, there are some things to do
before meeting the attorney to prepare for bankruptcy.
- Stop using your
credit cards.
If you borrow money with the intent of having
the debt discharged, then the debt is not
dischargeable. You should consult an attorney
before incurring any additional debt.
- Don’t make any
large gifts of property transfers.
Transferring property on the eve of bankruptcy
can be considered a fraudulent conveyance, which
could disqualify you for bankruptcy protection.
- Consider which
debts to pay.
Some debts (such as rent, utilities, care and
mortgage payments) must be paid currently, but
paying large sums to credit card accounts what
will be discharged is likely a waste of money.
Discuss with an attorney which debts you should
pay.
- Assemble
important documents.
Put copies of documents that would be helpful
in your bankruptcy into a folder or a box. Such
documents would include copies of your current
bills, a current paycheck stub and information on
your property.
- Relax.
You’re not the first person who needs help with
debt. Get ready for your fresh start so you can
avoid mistakes you may have made in the past.
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