Bankruptcy Checklist


Here's what you need to know before filing for bankruptcy.

(1) The process begins with collecing information about your income and expense, your assets and liabilities.

(2) Get an attorney consultation (widely available for free)and consider the alternatives. If you're a homeowner, make sure your prospects for loan modification are handled properly.

(3) Understand the different bankruptcy options of Chapter 7 liquidation, Chapter 13 reorganization, and when Chapter 11 applies.

(4) Develop a plan with an event schedule

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Michael Worthington | Attorney Advertising

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