11 Steps On How To File For Bankruptcy By Berardi & Associates

11 Steps On How To File For Bankruptcy By Berardi & Associates

Get The Right Lawyer For Bankruptcy

You need to understand that filing for bankruptcy is no easy task. You will be dealing with significant legal issues, and many obstacles are ahead of you. If your mind is clear on this decision, it is time to get the ball rolling. You should first hire a professional attorney who can help and guide you through these difficult financial decisions. There are many attorneys, but you have to find one specializing in bankruptcy law.

Berardi and Associates is a company that offers different law practices. We offer business law, estate planning, personal injury, real estate law, traffic tickets, and bankruptcy law

Two decades of combined experience will assure you that we will support and assist you from start to end of your bankruptcy filing with this strong background. We can help you understand your options and the implications of filing for Chapter bankruptcy. We will guide you through the whole end-to-end process. It includes assets and debts in your case on how to protect what you own and ensure a smooth and stress-free experience.

You might want to give us a call through this number (708) 942-8030 for your free consultation.

You can also look for some testimonials for getting your confidence high in making your filing of bankruptcy be done successfully with our great attorneys in the house. 

And, to give you ideas and answers to some of your questions, you are free to go on our frequently asked questions corner.

File For Bankruptcy
File For Bankruptcy

Types Of Bankruptcies

There are 3 types of bankruptcies: Chapter 13, Chapter 11, and Chapter 7. Each one has its unique benefits and drawbacks. It is important to speak with a qualified bankruptcy lawyer to figure out which type of bankruptcy is right for you.

1. Chapter 13 

It’s perfect for people who have a steady income but need some help getting back on their feet. Under Chapter 13, you will have to make monthly payments to your creditors for a period of three to five years. This type of bankruptcy is great for people who want to keep their homes and car.

2. Chapter 11 

It’s perfect for businesses that are struggling financially but want to stay in business. This type of bankruptcy allows you to restructure your debts and keep your business running.

3. Chapter 7 

It’s perfect for people who have no assets and no income. This type of bankruptcy will erase all of your debts and allow you to start fresh. It is important to note that chapter seven bankruptcy will stay on your credit report for ten years. Talk to a qualified lawyer to see if this is the right option for you.

Bankruptcy can be a scary word, but it doesn’t have to be. By following these eleven simple steps below, you can file for bankruptcy and get on the path to financial recovery. Speak with a qualified lawyer today to learn more about your options.

Declaring Bankruptcy

How To Declare Bankruptcy? If you feel like debt is drowning you, it can be more toxic than the last day as it goes by. You are panicked and nervous when your phone rings and notifies you of a new message. Maybe you thought that this could be your debt collector. Even taking care of your basic needs, such as housing and food, has become close to impossible. If you are experiencing this, filing for bankruptcy might be the right thing to do.

Here in Berardi and Associates, we understand both the legal and emotional repercussions of falling behind on bills and help you navigate the bankruptcy process. Suppose that you or your business is in a bad financial situation and needs help. In that case, our firm is available to answer your questions and guide you toward the right option for your situation.

If you are considering declaring bankruptcy, these are some things you should keep in mind. Declaring yourself bankrupt is not a decision to be taken lightly. Some consequences can affect your life for many years to come. It’s essential to gather all of your financial information together and speak with an experienced attorney like Berardi and Associates before making any decisions. 

Filing for bankruptcy is a difficult decision, but with the help of an experienced attorney, it can be a smooth process. Contact Berardi & Associates today for your free consultation. We’ll work to get you back on track financially. 

Steps In Filing Bankruptcy
Steps In Filing Bankruptcy

Steps In Filing Bankruptcy

We know sometimes you find yourself in a challenging financial situation, most especially in these days of the pandemic. Lockdowns are everywhere, and economic status is falling on what you did not expect. Now you are thinking that bankruptcy is the right solution. 

Filing can be a way to get relief from overwhelming debt, but there are some things that you have to need to know before you make that decision. Here are 11 Steps on How To File Bankruptcy Chapter 7 and Chapter 13. 

Step One: Gather Your Documents

The first step in filing for Chapter 7 and 13 bankruptcy is gathering all your financial documents. This includes your income statements, bank statements, bills, and other relevant paperwork. It’s essential to have everything organized and easy to access so you can provide it to us when needed.

Step Two: Meet With A Bankruptcy Attorney

It’s important to meet with a Chapter 7 Bankruptcy Attorney Near Me to discuss your options. Same as with Chapter 13 attorneys. We will tell you what chapter bankruptcy is an option for you and help you file all the necessary paperwork. Bankruptcy laws can be complex, and it’s vital to have us as experienced professionals by your side who can guide you through the process.

Step Three: File Your Petition

Once you’ve met with your Chapter 7 Lawyer or Chapter 13 Lawyer and decided to file for bankruptcy, the next step is filing your petition. This document includes all of your financial information and a statement of intent indicating that you want to file Chapter 7 or 13 bankruptcy. 

How To File Chapter 13? Or How To File Your Personal Bankruptcy Chapter 13?

Be truthful and accurate when completing these forms. Lying on your paperwork can result in severe penalties, including denial of your bankruptcy discharge. Please remember that you will help us by telling all the truth so we can help you too. 

Step Four: Serve Notice To Creditors

After filing your petition, you will have to serve notice to creditors. It will allow them to object or propose a repayment plan. When you file for bankruptcy, a notification is sent to all your creditors. 

Step Five: Review And Amend Your Plan

After serving notice to creditors, we will also work with you to develop a repayment plan. This prepared plan needs to be approved by the court for you to move forward with bankruptcy. We will ensure that you are compliant with the terms of your bankruptcy order

Step Six: Pay Fees And Costs

In addition to your repayment plan, you will also need to pay fees and costs associated with filing for Chapter’s bankruptcy. These can include attorney fees, court costs, and trustee fees

Begin Making Payments For Lawyer
Begin Making Payments For Lawyer

Step Seven: Begin Making Payments

Once the court approves your repayment plan, you will begin making payments according to the schedule outlined in that plan. If you miss your payment or fail to comply with the terms of your plan, you could be subject to different sanctions from the court. But we will not let that happen to you because we will guide you even in reminding you of your payments. 

Step Eight: Final Approval And Discharge

After you’ve made all your payments, your bankruptcy will be granted final approval, and you will receive a discharge of all your debts. It means that you are no longer responsible for those debts, and they will wipe them away permanently.

Step Nine: Follow Your Repayment Plan

Once your bankruptcy is approved, it’s important to follow the repayment plan outlined in your plan. It will help ensure that everything goes smoothly and you don’t experience any issues with the court or creditors.

Step Ten: Keep Up With Your Finances

One of the most important things to remember after filing for bankruptcy is to keep up with your finances. It means monitoring your credit score, paying your bills on time, and avoiding unnecessary debt. We will make sure that you are doing this for your good. 

Step Eleven: Enjoy A Fresh Start

After completing filing bankruptcy, you will have a fresh start financially. It can be an excellent opportunity to rebuild your credit and get back on track with your finances. Learning from previous fall down will always be your most extraordinary experience bringing to your fresh start. 

File For Bankruptcy (Get Help From Us)

It can be a difficult and emotional experience if you’re considering bankruptcy. But we understand that this is often the best option for many people. We hope our guide has been helpful in your search for information on bankruptcy. But, if you need more help finding out how to file or who should represent you in court, don’t hesitate to get in touch with us today! We would be happy to answer any questions you may have. 

You will find reviews from past clients praising our work ethic and dedication to achieving justice and fairness for our clients. Let one of us know what type of bankruptcy would suit your needs so we can start working on getting your case started as quickly as possible!

Thank you for reading our article on 11 Steps On How To File for Bankruptcy by Berardi & Associates. We hope this information was helpful.

Do you need legal assistance for your business? Look no further and contact us at (708) 942-8030 or set an appointment by filling out the form for a free consultation.

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