5 STEPS TO TAKE BEFORE FILING FOR BANKRUPTCY
4. Make a list of all your monthly expenses. Start with mortgage or rent including HOA, electric, insurance, other utilities, internet, cellphone, clothing, cleaning supplies, pet care, gas, and car maintenance. I suggest going back one year in your checkbook to see where your money goes.
What steps should I take before filing for bankruptcy protection?
This is an excellent question, and there are many different answers. Here, I will describe the top five things you should do when you are considering filing for bankruptcy protection. 1. Find the best bankruptcy attorney you can. Please note that I did not say the cheapest. Also, do not pick one because they are the oldest and advertise that they have 40 years of experience. These are not good indicators of the best bankruptcy attorney in town. Do not just pick the attorney your friend used two or three years ago. Make sure you go on the internet and do your research. If you want, I will gladly send you a free book titled: “How to Find, Interview, and Hire the Best Bankruptcy Attorney.” This book breaks down all the steps you need to take to find the best bankruptcy attorney in town. Once you find the best bankruptcy attorney in town, you will then set up an interview either by phone, Zoom, or in person. 2. You want to show up to that meeting fully prepared. You will want to have your paystubs for the last six months, and your spouse’s, if necessary; your tax returns for the last three years; a list of all your creditors, their mailing addresses, and account numbers; monthly statements; and if possible, six months of your bank statements from all financial accounts, just for a start. 3. Make a list of all your assets. Start with real estate, move onto motor vehicles, boats, RVs, motorcycles, then work on household goods and furnishings, musical instruments, jewelry, and clothing.
5. Make a list of questions to ask the attorney. If you are concerned about
losing your home, ask the attorney. If you are concerned about losing your car, ask the attorney. If you are concerned about the cost, ask the attorney. If you are concerned about how long the bankruptcy process will take, ask an attorney. If you are concerned about which chapter under the bankruptcy code to file, ask the attorney. Listen to what the attorney has to say, and if you feel comfortable with this attorney, ask for a copy of the fee agreement. Before you sign the agreement, read it and ask questions. If you are comfortable signing the agreement, go ahead and sign it and get started. If you are not comfortable with the attorney after the interview or after reading the agreement, thank them and set up an appointment with someone else.
–Carmen Dellutri
“I am very pleased to wholeheartedly recommend the entire Dellutri Law Group, and specifically Joe LoTempio, to you for your legal needs. My many years of involvement with them has revealed their extreme competence, capability, and professionalism. They are very knowledgeable and organized, and it would be an immense challenge for anyone to find a more compassionate and considerate group of individuals. Mr. LoTempio quickly grasped the entirety of my complex situation, formulated a plan with well-thought-out solutions identified, and swiftly and accurately concluded the several aspects of my case. He is personable, engages well with others, and exhibits high levels of motivation and quality of character. Without hesitation, I would advise utilizing Mr. LoTempio and the Dellutri Law Group for your legal needs!” –W.K. google review , jan . 2022 Testimonial Our Clients Say It Best
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