You must probably know that filing for Chapter 7 Bankruptcy is a legal process. Meaning it has set standards to follow for its ultimate success. Below are some of the necessary steps to take when filing for this type of bankruptcy. Learn more about filing for bankruptcy in Greenbelt here.
Collect Your Documents
Having your documents ready helps you understand the current state of your finances. These include collecting your credit report from the relevant authorities. Some other documents to collect include tax returns for the past two years, recent bank account balances and any other relating to your assets, debts and income. Learn more about Chapter 7 Bankruptcy Means Test in Greenbelt.
Take Credit Counseling
Credit counselling is the most important first step you must take. It is a must requirement for everyone who files for bankruptcy to decide whether they need to file for bankruptcy or do otherwise.
Complete the Bankruptcy Forms
This time-consuming step involves completing forms totaling roughly 70 pages. Some of the information the forms ask for include everything you make, spend, own and owe. Doing this is usually challenging, and you may consider using a lawyer to help.
File Your Forms in Court
After paying the required amount of money in person at the court, you take all the printed forms to the court for filing.
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