Depending on your living situation and your life circumstances, there may be differences regarding how you file for bankruptcy. If you are going to file as an individual debtor, this means that your bankruptcy will not affect your family, business, roommates, or any other associations. You will be solely on your own when it comes to repaying debts. Whenever you apply as an individual debtor, you are going to need a lawyer on your side to assist you in your case. You will want a professional who understands the intricate bankruptcy process and can help you to fill out your bankruptcy schedules in detail so that you will not be accused of fraud. You can use this directory to find a reliable bankruptcy attorney near you.

At your first meeting with your local bankruptcy attorney, you will want to bring all your financial papers. Put copies of all outstanding bills, bank statements, paycheck stubs and other relative papers with you to the meeting. You can rest assured that your lawyer will be bound to the client-attorney relationship and will not share this financial information with any other parties. You should also bring along a copy of your mortgage and car loan and any tax returns. Bring all financial information that has been relevant within the past six months to your consultation with your attorney as a precaution.

Your attorney will help you as you work through the bankruptcy petition. You will need to list every single debt that you owe. If you don't have any creditors or don't list one particular debt, and the Bankruptcy Court discovers this mistake, then your case will be dismissed. This means you will need to start over to receive bankruptcy protection, and your application may be denied the second time around because your history. It is considered a federal crime to lie on your bankruptcy paperwork, and individuals can be fined or sent to jail for this offense. This is why it is important to have a meticulous attorney there to help you with the paperwork.

After you have filled out the paperwork, you will need to discuss your secured and unsecured debts with an attorney. Cars and mortgages are often secured debts. This means that your lender has the right to seize the items if you fail to pay on them. Loans on collateral are also secured debts. Some debts may not be secured by any property, such as credit cards or medical bills. This means that these bills may be discharged in some circumstances. Your attorney will be able to let you know which debts can be discharged and which will last after your bankruptcy is finalized.

You will need to talk with an attorney about whether you would benefit from a Chapter 7 bankruptcy or a Chapter 13. With the right lawyer on your side, you will be able to assess the benefits of both of these chapters and make an informed decision. Your creditors will be notified of your bankruptcy as soon as you file, because the Bankruptcy Court will send each individual a Notice of Commencement. Oftentimes singles that file as an individual debtor and don't entangle others in their expenses can experience a simple and clear bankruptcy process.

Bankruptcies get much more involved when businesses are included or when there are multiple debtors tied up in each debt. Regardless of whether your debt will be complicated or seems relatively simple, don't forego the opportunity to have a hardworking lawyer on your side. You need a dedicated and reliable bankruptcy attorney to help you work through the many decisions that you will need to make in connection with your bankruptcy filing.