We often talk about what you need to know, and what you need to do when it comes to filing for Chapter 7 Bankruptcy or Chapter 13 Bankruptcy. This time we’re going to advise you how to behave, so that you’re the perfect bankruptcy client.
Follow these tips and make your bankruptcy quicker and easier for yourself and your bankruptcy lawyer.
Here’s how.
1. Provide all the information you’ve been asked for
The bankruptcy petition is the document we file with the court to start your case. It is around 90 pages, and is very detailed.
Most people would call it nitpicking, but that is what the Bankruptcy Court requires.
When your bankruptcy lawyer asks you for something, to be the perfect bankruptcy client you need to provide it.
You’ll need to have a lot of your financial information such as your tax returns and paystubs. You’ll be told exactly what you need, and how far back you need to go.
This is one of the main ways you can be a perfect bankruptcy client.
2. Tell the truth
Despite what you might think, it’s usually easy for experienced bankruptcy attorneys or the Bankruptcy Court to see if you are lying, hiding something, or trying to mislead us.
We have seen it all before. If you get caught lying, the consequences are usually very bad.
If you want to be the perfect bankruptcy client, make sure you tell us about everything you own.
Leaving things out is especially dangerous. Being dishonest and committing bankruptcy fraud will get you into trouble. It’s not worth it.
There’s also a potential $250,000 fine and 5 years in prison. Or both.
Ask former Minnesota Auto Dealer Denny Hecker about that.
And you probably won’t get your discharge so you will still owe the money.
3. Do your Financial Management course
If you don’t do it, you don’t get your discharge. The discharge is the court order that says you don’t owe your bills.
The Financial Management course is actually a good thing and will help you to manage your money better.
You will be smarter about money going forwards.
4. Let us know of any potential problems.
We’ll ask you a lot of questions, about your income and expenses, and the things you own.
However, you can be the perfect bankruptcy client by telling us things we should know and ask us questions. Make your life and our life easier by telling us anything we might also need to know.
Things like:
- You’ve got part shares in a boat, holiday home or classic car
- You’re disputing a piece of land with a neighbor
- You’re expecting compensation from an accident you had at work
- Your parents put your name on the title to their home or cabin
5.Attend the 341 meeting.
The 341 meeting used to be called the meeting of creditors, but creditors almost never show up.
If a creditor does attend, all they can do is ask you questions. They can’t object to your bankruptcy at the 341 meeting.
6. Cooperate with your Bankruptcy trustee
It’s essential that you cooperate with your bankruptcy trustee.
If they ask for something, you will almost always need to provide it. If they ask questions, you need to answer them.
Usually your bankruptcy attorney will be able to advise you what they are going to ask.
7. Take it seriously.
It goes without saying, you should be polite to everyone you speak to.
Even if things aren’t going your way, or you’re in a bad mood, getting cross with people who are trying to help you won’t make matters any better.
If you get cross with the trustee or the judge, you will probably make things much worse.
Remember to use appropriate language and mind your manners when you speak to people.
Remember to dress appropriately too. Turning up in a sports car, wearing fancy jewelry or designer clothes won’t look good to your bankruptcy attorney or a creditor.
It might even make them suspect you have assets you didn’t disclose.
8. Some things to remember
- A Chapter 7 bankruptcy usually takes 3 months from start to finish
- A Chapter 13 bankruptcy lasts for 3-5 years
If you need to speak to us, or want further advice, we’d be delighted to help you. When you call our office, a human being will answer the phone
Think about the future and how much you can look forward to getting on with the rest of your life without debt.
Conclusion
Whether you want to talk to the mailperson again without fearing another bill, or simply want to sleep better, you can, as soon as your bankruptcy is discharged.
Bankruptcy is an opportunity for you to become debt free and get a fresh start.
Why not call us today at 612-824-4357, and see how we can help you turn your life around?
