Step 1- Find and sign up with a reputable bankruptcy attorney in East Brunswick, NJ by researching the Internet or from word of mouth by friends or family. It’s important to find a bankruptcy attorney that will work well with you because the process will take 4 to 6 months.
It’s also nice to find someone that you can put all your trust in as your financial future is in their hands. Someone looking for a bankruptcy attorney should look at it as putting a team together to play a sport. All members of the team are important to have a successful outcome.
Make sure you feel comfortable sharing your accolades as well is your failures with the person you hire. If you’re not comfortable sharing information many people have a tendency to leave out important details that might be disastrous to the case.
Step 2- Gather all of the information as directed by the attorney to prepare the bankruptcy petition. This includes a complete list of all of one’s creditors, the account numbers, the balances on the accounts, and the addresses of the creditors. If you are unsure of the exact balance or the debt was sold to a collection agency then just include the original creditor and the last known balance.
As long as the original debt is listed it will be discharged. List all assets and show all expenses. Be sure to provide the bankruptcy attorney with proof of income such as pay stubs, bank statements, and tax returns. The bankruptcy attorney will use all of this information to prepare the bankruptcy petition.
Step 3- Take the court required credit counseling course. This can be taken online for convenience and can be completed easily in a few hours.
Step 4- The bankruptcy attorney now will file the petition with the court. Once it has been filed, the debtor can now enjoy the benefits of the automatic stay. The automatic stay will stop all collection activity against the debtor. It is so powerful it will also stop foreclosure, lawsuits, judgments and wage garnishments.
Step 5- Attend the creditors meeting with the attorney. The creditors meeting or 341 meeting, is where the debtor meets with the bankruptcy trustee and is asked a few simple questions. This meeting usually lasts about 10 minutes and rarely do any of the debtor’s creditors ever attend.
Step 6- now that you’re almost finished and waiting for the bankruptcy discharge it is now time to take the personal financial management course which is also offered online and is a bankruptcy court requirement.
Step 7- Sit back and wait for the bankruptcy discharge to arrive in the mail and look forward to a fresh financial start right here in East Brunswick, NJ .