Steps to Take Before Bankruptcy

Stress over increasing debts impacts all aspects of your life. It is important to know that you can empower yourself with knowledge about how you can erase your debt and regain your quality of life. I will help you explore your options. Consulting with a Bankruptcy Attorney will help you explore your options, put an immediate end to creditor harassment, and start the steps to a fresh financial start.

The Steps You Should Take Before Filing for Bankruptcy in Petaluma

Prior to your free initial consultation at the Law Office of Andrew Kern, it is important that you provide me with the following:

• Identification — Bankruptcy laws require an official photo ID, such as a driver's license, and verification of your Social Security number. You will show your identification to the trustee at the meeting of creditors which I will attend with you.

• Proof of income — You need to provide verification of your average monthly gross income from all sources for the last six months prior to your filing date. If you own a business, you need to submit a profit and loss statement. Proof of income is used to determine whether a means test is necessary to qualify for a Chapter 7. If you don't qualify for a Chapter 7 because your income is too high, or you need to file a Chapter 13 for other reasons, then your last 6 months income is used in factoring your disposable monthly income which in turn determines your monthly plan payment. Don't worry, I will go over all of this with you.

• Income tax returns — Your last year's income tax return is reviewed by the trustee in Chapters 7 & 13, and if you are in business then the last three years of tax returns are reviewed by the trustee in a Chapter 13. If you have not filed, you must do so in time to provide the Chapter 13 trustee your tax return 7 days prior to your meeting with the trustee.

• Account statements — Credit cards, auto loans, lawsuits and personal debt with friends or family. All current financing statements for any mortgages or loans on vehicles or equipment.

• Investment and retirement account statements — Recent statements for stocks, mutual funds, IRAs and 401(k)s.

• Bank records — Two months of statements from your bank, credit union or any other financial institution.

• Household expenses — From mortgage payments and utilities to food and medical expenses, this vital information is necessary.

Preparation for the process is important. Providing me with the above information will give enable me to have a clear and complete picture of your financial situation so I can provide counsel to you on the best strategies to obtain your goals of becoming debt free. My goal is to end the stress of your mounting debts so you can go back to enjoying your life.

A Novato Bankruptcy Attorney Helping You Prepare for a Bankruptcy Filing

With the information, I will advise you on whether a Chapter 7 or Chapter 13 bankruptcy is more suited to your situation. With your input, I will prepare the bankruptcy documents which we will review together prior to filing. Once I file those documents, we'll meet with a trustee within approximately 30 days for Chapter 7 and approximately 45 days for a Chapter 13. All collection activity will stop once creditors receive notice of your filing which takes approximately 3-4 days from filing. I will attend the meeting of creditors with you to make sure the process goes smoothly and stress free.

The Personal Service You Deserve From a Novato Chapter 7 and 13 Lawyer

To begin the debt relief process with a free initial consultation, contact me online today. My law firm is conveniently located near Highway 101 in Petaluma, California.

I am a debt relief attorney. I help people file for bankruptcy relief under the Bankruptcy Code.