3 Preparations for Bankruptcy
As the economy continues to struggle, many individuals, families, and businesses remain beset by financial difficulties. When one can no longer keep pace with a mortgage, credit card debts, and other bills, what had once been a manageable debt load can become a crippling and insurmountable challenge. If you have found yourself in this position, you may wish to consider filing for bankruptcy so you can gain a fresh financial start.
If you are facing financial difficulties, you have options, and you do not have to go through this trying time alone. At the Harmon Law Office, LLC, our Arizona bankruptcy lawyers are dedicated to helping you every step of the way so you can get out of debt. Contact us today at 480-829-0494 and schedule a free consultation to discuss your legal options.
Documents and Figures You Need
Before you can file for bankruptcy, you must first gather a variety of different financial documents and figures. Three things that you must ensure are properly prepared include:
- Income – an applicant’s income is important because an accurate accounting of this will determine whether one passes the Chapter 7 means test, and it also has considerable influence on the structure of a repayment plan in Chapter 13.
- Loans or Leases – these are an important part of most debtors’ debt portfolios. By presenting these documents, a debtor can fully demonstrate their obligations and the court will have proper information to guide its interaction with a filer’s creditors.
- Expenses and Assets – an accurate representation of your expenses and assets is essential to the determination of what might constitute a suitable repayment plan.
Contact Us
Do not delay seeking legal counsel if you believe that you can no longer adequately handle your debt load. Contact the Arizona bankruptcy lawyers of the Harmon Law Office, LLC, by calling 480-829-0494.