5 Tips to Take the Stress Out of Your Bankruptcy Claim

When filing for bankruptcy, you want to get things over with as quickly as possible, so you can get back to your life. The legal process involved is highly sensitive and can become quite complicated, however. With these clever tips, you can take away much of the frustration associated with the whole affair:

Find a Reliable Attorney

While you are allowed to file bankruptcy on your own, it is much wiser to work with an experienced Townsville law firm. A professional in bankruptcy law understands the nuances involved in the field and can smoothly guide you to getting a discharge.

Prepare Your Paperwork

The amount of documentation involved in a bankruptcy case can be overwhelming. Start early so you don’t stall the process. You’ll need to have copies of your tax returns for at least the last three years. Get any relevant financial documents and their copies in order, too.

Disclose All Information

Don’t make an enemy of yourself against parties involved in your case by knowingly providing inaccurate or incomplete information. Your attorney, above anyone else, deserves to know everything regarding your assets and liabilities so they can advise you accordingly.

Avoid More Debt

The reason you’re filing bankruptcy is because you are in financial turmoil. Incurring more debt while you intend to file your claim communicates irresponsibility or malice on your part. Resist the urge to use your credit cards or take cash advances from any of your creditors.

Retain Your Assets

If you’re thinking about selling any of your assets before filing bankruptcy, think again. Unless you can demonstrate beyond any doubt that you are selling the assets in an attempt to pay off your debts, the court will dismiss your claim. You could even face criminal charges.

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No one likes to go through bankruptcy, and the sooner you’re done with the process, the better. By playing your part well, you can make the process not just smooth, but also educative.