Your Responsibilities in Bankruptcy

You’ve decided to file for bankruptcy–either Chapter 7 or Chapter 13–and hired a qualified Sarasota bankruptcy lawyer to handle your case. Now you just sit back and wait for all of your financial dilemmas to be handled by the courts, right?  Well, not exactly. Although you can trust your Sarasota attorney to guide and advise you through the bankruptcy process, he or she will need accurate information and your cooperation to ensure a good outcome. Here are ways in which you will contribute to your own bankruptcy case.

Accurate Paperwork

Once you retain your attorney, you will be asked to provide a long list of information. This will include your employment information and proof of income, such as pay stubs or tax forms. If you have legal circumstances which affect your income, such as an order for child support, an inheritance, trust, or settlement, you will be required to submit those documents. One of the most crucial parts of your paperwork will be your list of creditors. You will be expected to provide names, addresses, and account numbers of your original creditors, as well as the collection agencies they’ve used. It is absolutely essential that this information be correct. If a creditor is not notified of your bankruptcy, due to an incorrect address, account number, or other problem, that debt may not be discharged in a “7” or paid in a “13.” Many people bring a box of bills and notices, believing that the attorney or her staff will organize them; this job will, in fact, fall to the people who know your finances best: you!

Honesty

Your Sarasota bankruptcy lawyer, the trustee (for a Chapter 13), and the bankruptcy court judge expect you to be truthful in all matters pertaining to your filing. Some circumstances in which people frequently believe they can “fudge” matters include: undervaluing or failing to disclose assets; claiming that jewelry they own or still owe for was “stolen;” hiding items with relatives; failing to disclose new income, such as social security back pay, an injury settlement, or tax refund, and not listing debts to friends and family on their list of creditors. If you file for bankruptcy but, during the period before discharge, come into a windfall, you must inform your Sarasota attorney, who will inform the court. Also, if you must, disclose any previous bankruptcies, even if they occurred in other jurisdictions or states. Finally, you cannot abuse the system by purposefully incurring debt, with the intention of getting rid of it in a bankruptcy. Bankruptcy will help you resolve your financial problems, but only if you are honest.

Timelines

When you file for bankruptcy, it is important to meet every deadline and keep every appointment. Most of bankruptcy’s benefits will only be yours once the petition is filed in court. Simply retaining an attorney will not grant you relief from creditor calls or a stay on foreclosure proceedings. To make your case advance as quickly as possible, fill out your questionnaire and other paperwork in a timely manner, keep all of your attorney appointments, and do not miss any hearings you are required to attend. Keep your Sarasota attorneys apprised of any developments affecting your case, such as a garnishment or foreclosure notices. He is there to help you, but cannot do so if you do not keep him informed.

Payments

Finally, to make sure that your bankruptcy proceeds as smoothly as possible, you need to pay your fees, court costs, and, if applicable, Chapter 13 payments. Many people, already at the end of their financial ropes, find it difficult to pay the fees associate with legal work. Discuss your finances with your Sarasota bankruptcy attorney; many times, she will be able to find a way to help you pay any costs. If you file a Chapter 13 bankruptcy, you will be expected to make payments to the trustee on a timely basis; failure to do so could result in your case being dismissed and your debts restored to you. If, during the course of your Chapter 13 process, your finances change for the worse, call your attorney immediately for guidance.

Bankruptcy is an important financial decision, and a mode of relief which requires expert advice. For the best possible results, consult and retain a qualified Sarasota bankruptcy lawyer to handle your case.