The rules governing the filing of a bankruptcy petition under Chapter 13 or Chapter 7 are complex. That is why it is a good idea to hire a qualified attorney that has experience in filing consumer bankruptcy cases to help you navigate this process. Having said that, there are some basic rules you can follow to insure that you will be in compliance with the many requirements under the bankruptcy code. The bankruptcy code requires you to disclose all property that you own, all creditors to whom you owe money and your general financial affairs leading up to the bankruptcy filing. The most important thing you can do to insure these disclosures to the bankruptcy court are in order is to follow two simple, but critical, rules: Tell the truth and do not leave anything out. An experienced bankruptcy attorney will provide you with the detailed paperwork necessary to file a bankruptcy petition. Be thorough when you are filling out this paperwork and follow the two rules above.
There is one further rule that is extremely important to know if you are in need of bankruptcy relief. If you plan to file for Chapter 13, you must be current on the filing of your federal and state income tax returns. If you have missed any years in which you were required to file a tax return, this could be a barrier to receiving relief under the bankruptcy code.
If you are considering a filing for bankruptcy relief and wish to consult with a qualified bankruptcy attorney about your options, please contact one of our locations nearest you in Alabama, Mississippi or Tennessee for a free, confidential consultation.