Bankruptcy Prep Where to Begin – Boston Equator

Wyer. And what are the best ways to manage the costs? When understanding bankruptcy prep, it is important to find these answers before attempting to file. This will make the bankruptcy process easier if you are more informed.

Conduct a means test in order to see if your finances are suitable for Chapter 7. This will let you know the bankruptcy process is right for your specific financial situation. In this application, you must fill in all financial information such as listing your financial assets and earnings, which is similar the way you file your taxes.

It is the next stage to fill out the proper papers and forms. The forms include the list of bills and debts as well as additional financial commitments. They will have approximately 60 pages. If a lawyer assists you fill out this form Secessions are typically priced at 1500 dollars, due to the high volume of work that needs to be completed to finish the process. If you want to cut costs on representation, it could be better to utilize a different approach for filling out the forms.

The video in the attachment provides further information on bankruptcy preparation.