What are the steps of filing for bankruptcy?

Chibueze Corma · #1 (**permalink**) 11-09-2009, 04:20 AM

Your first step is to contact a local attorney to find out what you qualify for. They will need to see your last 6 months of pay stubs, assets, list of all your debts and last 4 years of taxes. Once they review all your information they will be able to tell you what you qualify for. Most attorney's will see you free the first consultation.personal injury attorney houston

Johndoe234 · #2 (**permalink**) 12-03-2009, 07:08 PM

The first thing you have to do is to organize all your personal financial information. After making sure you have all the important financial documents with you, you will have to complete personal bankruptcy forms.

nilupul · #3 (**permalink**) 02-22-2010, 09:57 PM

I think the first step of filing bankruptcy is evaluating pros and cons of it.
Bankruptcy has pros such as;
-Most or all of your debts could be wiped out and letting you start over fresh if you are filing chapter 7 bankruptcy.
-You will able to keep your personnel assets.
-From a chapter 13 bankruptcy could save your home from foreclosure.

Bankruptcy has crons such as;
-Your credit score will be lower. It will effect if you are getting a loan, mortgage,etc.
-Trust on your business will be highly effected.

There are more pros and cons. So think a lot and get an advice from a highly professional and talented lawyer.