Pre-Bankruptcy Requirements
If you are planning to file for individual bankruptcy, it is critical to understand that there are certain steps you are required to take before you can actually file your bankruptcy petition. To be clear, you cannot decide to file for bankruptcy one day and file your petition the following day. Instead, there are steps that need to be taken in advance of filing your petition. The best way to ensure that you take all necessary bankruptcy steps both before filing and during the post-petition process that will follow is to work with an experienced West Palm Beach bankruptcy attorney. In the meantime, we can give you more information about some of the things you will need to do before you actually file your bankruptcy petition.
Credit Counseling
Before you file for consumer bankruptcy, you must complete a credit counseling course, which is often known as pre-bankruptcy credit counseling. There is a specific time window for completing this, and it must be done before you file your bankruptcy petition. You can take the credit counseling course up to 180 days before you file (but not earlier than that), and you must have completed it before you file. So, in other words, you have a 180-day window to complete credit counseling.
This requirement can be done online, and you can find a range of options that are approved by the US Trustee’s Office that can provide you with a certificate of completion — which you will need — after you have finished the credit counseling course. If you do not complete credit counseling with an approved agency during this 180-day time window, the bankruptcy court can dismiss your case.
Pass the Means Test for Chapter 7 Bankruptcy
If you are planning to file for Chapter 7 bankruptcy, you will need to pass the “means test” before you file. This test determines your eligibility for Chapter 7 bankruptcy as an individual. If you do not pass the means test, you are likely ineligible for Chapter 7 bankruptcy. A lawyer can assist you with this step.
Gather Financial Documentation
You will need to provide a wide range of financial information when you file for bankruptcy, including a disclosure of all assets and debts. You will need this information to complete required forms, including materials you submit with your bankruptcy petition (or very shortly after filing). Your bankruptcy lawyer can help you to ensure that you have all necessary financial documentation and that you will out all required bankruptcy forms fully and accurately.
Filing Fee
You will also need to prepare to pay the bankruptcy filing fee or to request a waiver. Fees vary depending on the type of bankruptcy.
Contact a West Palm Beach Bankruptcy Attorney Today
Before you make official plans to file for bankruptcy, it is critical to discuss your case with one of the experienced West Palm Beach bankruptcy lawyers at Kelley, Kaplan & Eller. We can help you to understand the types of bankruptcy you may be eligible to file, and we can ensure that you meet all requirements prior to filing your petition and throughout the bankruptcy process. Much too often, bankruptcy cases are dismissed because an individual decides to file for bankruptcy without a lawyer’s assistance and makes a minor error or two. We are here to speak with you today about your bankruptcy plans and to assist you through the end of your bankruptcy case.
Source:
justice.gov/ust/credit-counseling-debtor-education-information
