{"id":2961,"date":"2016-05-25T06:59:45","date_gmt":"2016-05-25T13:59:45","guid":{"rendered":"http:\/\/dmaxlaw.com\/?p=2961"},"modified":"2016-05-25T06:59:45","modified_gmt":"2016-05-25T13:59:45","slug":"bankruptcy-attorney-bankruptcy-checklist","status":"publish","type":"post","link":"https:\/\/themediabeast.com\/resources\/bankruptcy-attorney-bankruptcy-checklist\/","title":{"rendered":"Bankruptcy Attorney | Bankruptcy Checklist"},"content":{"rendered":"

Bankruptcy Attorney | Bankruptcy Checklist<\/h2>\n

Bankruptcy Attorney |<\/a>\u00a0\u00a0Anyone who is considering bankruptcy will need to explore the option thoroughly before they decide that it is the right\u00a0thing to do. A good debt attorney can help them make this decision, but there are some things that they need to consider\u00a0before they embark upon that path.\u00a0First, they will want to weigh the advantages against the disadvantages of bankruptcy. For example, with a chapter 7\u00a0bankruptcy, the process can be completed in about four months. Another very positive aspect of this plan is that it does\u00a0not require that the debtor enter into a payment plan.\u00a0Then, they must consider the alternatives to bankruptcy.<\/p>\n

Can they sell any property to pay their debts? Can they negotiate\u00a0with their creditors?<\/strong><\/p>\n

If these are not possibilities, they will want to see if they can qualify for bankruptcy.\u00a0In order to file for bankruptcy, people must pass the means test.\u00a0Once people pass the means test, their property will be assessed. Some property is exempt from the bankruptcy process,\u00a0such as home equity and household belongings. Non-exempt property will be sold to satisfy the debts, and it includes\u00a0stocks, bank accounts and family heirlooms.\u00a0Next, the debtors can decide what to do with secured debts. They can either enter into a new agreement to re-pay the\u00a0debt, pay the current value of the property or relinquish it to the creditor.\u00a0The debtors will be required to enter into a short credit counseling session no later than 180 days before they can file for\u00a0bankruptcy.<\/p>\n

The counselor may be able to tell them if bankruptcy is the best choice for them and will be able to identify\u00a0other alternatives.\u00a0Once the decision has been made to file for bankruptcy, the debtors will need to gather several documents. These\u00a0documents include tax returns, proof that they attended counseling sessions, a list of their debts and their property, wage\u00a0stubs and a list of their creditors.\u00a0Once the preliminary steps have been taken, a bankruptcy attorney will be able to begin the bankruptcy process.<\/p>\n

 <\/p>\n

If you are considering filing Chapter 11 Bankruptcy in Bakersfield for your business, get advice sooner, rather than later. Call Max Gardner<\/a>\u00a0 Bankruptcy Attorney at 661-888-4335<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Bankruptcy Attorney | Bankruptcy Checklist Bankruptcy Attorney |\u00a0\u00a0Anyone who is considering bankruptcy will need to explore the option thoroughly before […]<\/p>\n","protected":false},"author":1,"featured_media":2962,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"

Bankruptcy Attorney | Bankruptcy Checklist<\/h2>

Bankruptcy Attorney |<\/a>\u00a0\u00a0Anyone who is considering bankruptcy will need to explore the option thoroughly before they decide that it is the right\u00a0thing to do. A good debt attorney can help them make this decision, but there are some things that they need to consider\u00a0before they embark upon that path.\u00a0First, they will want to weigh the advantages against the disadvantages of bankruptcy. For example, with a chapter 7\u00a0bankruptcy, the process can be completed in about four months. Another very positive aspect of this plan is that it does\u00a0not require that the debtor enter into a payment plan.\u00a0Then, they must consider the alternatives to bankruptcy.<\/p>

Can they sell any property to pay their debts? Can they negotiate\u00a0with their creditors?<\/strong><\/p>

If these are not possibilities, they will want to see if they can qualify for bankruptcy.\u00a0In order to file for bankruptcy, people must pass the means test.\u00a0Once people pass the means test, their property will be assessed. Some property is exempt from the bankruptcy process,\u00a0such as home equity and household belongings. Non-exempt property will be sold to satisfy the debts, and it includes\u00a0stocks, bank accounts and family heirlooms.\u00a0Next, the debtors can decide what to do with secured debts. They can either enter into a new agreement to re-pay the\u00a0debt, pay the current value of the property or relinquish it to the creditor.\u00a0The debtors will be required to enter into a short credit counseling session no later than 180 days before they can file for\u00a0bankruptcy.<\/p>

The counselor may be able to tell them if bankruptcy is the best choice for them and will be able to identify\u00a0other alternatives.\u00a0Once the decision has been made to file for bankruptcy, the debtors will need to gather several documents. These\u00a0documents include tax returns, proof that they attended counseling sessions, a list of their debts and their property, wage\u00a0stubs and a list of their creditors.\u00a0Once the preliminary steps have been taken, a bankruptcy attorney will be able to begin the bankruptcy process.<\/p>

\u00a0<\/p>

If you are considering filing Chapter 11 Bankruptcy in Bakersfield for your business, get advice sooner, rather than later. Call Max Gardner<\/a>\u00a0 Bankruptcy Attorney at 661-888-4335<\/span><\/strong><\/p>","footnotes":""},"categories":[1],"tags":[1078],"class_list":["post-2961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-bankruptcy-attorney"],"yoast_head":"\nBankruptcy Attorney | Bankruptcy Checklist | Bakersfield, CA<\/title>\n<meta name=\"description\" content=\"Considering filing bankruptcy in Bakersfield for your business, get advice sooner, rather than later. 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