3 Things You Should Do Before Filing for Chapter 7 Bankruptcy

Filing for bankruptcy may seem daunting, but there are many simple steps you can take to ease this process. Once you have decided that Chapter 7 bankruptcy can help you, it is important that you are prepared for all the necessary application requirements.

At the Law Office of David D. Kervin, Jr. our New Orleans bankruptcy attorneys are prepared to help get the fresh start that you are seeking. Our dedicated attorneys can walk you through all the necessary formalities and ensure that you are qualified to receive Chapter 7 bankruptcy. If you are interested in speaking with a knowledgeable bankruptcy lawyer, contact our offices at 504-599-5906.

What You Should Do

It is not advisable to file for bankruptcy protection without the assistance of an attorney because you are at risk of inadvertently committing errors which prevent your case from being approved. The following are some important preliminary matters to resolve before you file for Chapter 7 bankruptcy.

#1: Gather All Necessary Financial Information

By putting together a collection of your bank statements, receipts, and other important financial data, you will help to eliminate confusion about your situation and allow bankruptcy review boards to have immediate access to the information they need.

#2: Attend Credit Counseling

Credit counseling is required of debtors that are interested in bankruptcy. While this may seem unhelpful or undesirable, it does help some people to renew their desire to get out of debt by making them more aware of all options for eliminating the financial crisis.

#3: Take the Means Test

The Means Test is required of anyone that is considering Chapter 7 bankruptcy. This process takes the average of the debtor’s income and compares it to the average of their state’s income. The amount of income left after necessary living expenses are paid will then be weighed against a debtor’s financial obligations to see if payments can be made reasonably.

Contact Us

The New Orleans bankruptcy lawyers at the Law Offices of David D. Kervin, Jr. can help you better understand each of these steps and make sure that you are ready to file your Chapter 7 bankruptcy application. Contact us at 504-5995-5906 for more information about what you need to do to get the financial relief you need.