Bankruptcy Lawyer Hartford, CT
If you’re thinking about filing for bankruptcy, you should speak to a bankruptcy lawyer Hartford, CT residents trust. Bankruptcy can be a stressful ordeal, so it helps to have someone knowledgeable and experienced on your side. A lawyer can guide you through the entire process and protect your legal rights.
Things You Should Do Before Filing for Bankruptcy
Filing bankruptcy is a big decision and shouldn’t be taken lightly. Although it can get rid of most of your debts and give you a financial fresh start, bankruptcy can negatively affect your credit in the beginning. Here are some important steps to take before you file for bankruptcy:
- Gather All Your Financial Documents: Before you file for bankruptcy, it’s important to find important financial documents and put them in a folder. These documents may include tax returns, bank statements, credit reports, mortgage statements and collection letters.
- Understand That Bankruptcy Takes Time: While it would be nice if you could finish the bankruptcy process quickly, it’s not realistic. Chapter 7 bankruptcy typically takes between four and six months to complete while Chapter 13 bankruptcy can take between three and five years to complete. Therefore, you must be patient.
- Have Cash Available: If you file for bankruptcy, there is a chance your bank will freeze your funds. Although the bank will eventually unfreeze your funds, it can take time. That’s why you should have cash readily available to pay your bills in the meantime.
- Complete a Credit Counseling Course: Before you declare bankruptcy, you’re required to complete a credit counseling course. These courses are typically offered online and can be completed fairly quickly. After you complete it, the agency will send you and your bankruptcy lawyer in Hartford, CT a certificate of completion.
- Create a New Budget: To avoid getting into another financial mess in the future, it’s important to assess your current budget and determine what expenses you can cut out. For instance, instead of going out to restaurants several nights a week, cook at home more.
- Talk to a Lawyer: An experienced bankruptcy lawyer can assess your current financial situation and determine if bankruptcy is truly the best option for you. He or she can also help you choose between Chapter 13 and Chapter 7 bankruptcy. For instance, if you have a full-time job and want to keep your home, your lawyer may suggest filing for Chapter 13 bankruptcy.
Schedule a consultation with a bankruptcy lawyer in Hartford CT from The Law Offices of Ronald I. Chorches today.