Making the decision to file bankruptcy is never easy. In fact, the amount of information needed from an individual can be overwhelming and can certainly deter anyone from wanting to file for bankruptcy at all. But the weight of having financial issues can be extremely stressful and you deserve to have the clean slate that only bankruptcy can bring.
Understanding bankruptcy, no matter where you live, can be quite difficult and confusing. Fortunately for those of you who live in Stoughton, MA, you have the added benefit of the Law Office of Brian R. Lewis. The attorneys at this law office specialize in bankruptcy law and not only personal bankruptcy filings, but business bankruptcy filings as well.
While it is recommended that you have a bankruptcy lawyer on your side to help you through the process, there are some things you will need to gather on your own to get ready to file for bankruptcy in Stoughton, MA, including the following documents:
Having these items with you at your first meeting with the bankruptcy attorney can help them determine which type of bankruptcy is best suited to your financial situation. There are four different types of bankruptcy an individual living in Stoughton, MA can file.
Each type of bankruptcy is designed to meet the needs of each individual or business that is filing bankruptcy. As it goes, filing bankruptcy can often be confusing and very overwhelming. However, with the help of a bankruptcy lawyer from the Law Office of Brian R. Lewis, your questions will be answered and the process should go quite smoothly.
Understanding bankruptcy, no matter where you live, can be quite difficult and confusing. Fortunately for those of you who live in Stoughton, MA, you have the added benefit of the Law Office of Brian R. Lewis. The attorneys at this law office specialize in bankruptcy law and not only personal bankruptcy filings, but business bankruptcy filings as well.
While it is recommended that you have a bankruptcy lawyer on your side to help you through the process, there are some things you will need to gather on your own to get ready to file for bankruptcy in Stoughton, MA, including the following documents:
- Tax returns from the last four years
- Credit card statements and/or receipts from the past year
- Pay stubs or other proof of income for the last six months
- Copy of Deed and Declaration of Homestead for any real estate property
- Evidence of title for vehicles and other personal property
- Statements showing balances owed on mortgages, cars, etc.
- Tax notices from federal, state or local tax collection agencies
- Lease and/or rental agreements
- Lawsuits and judgments either for or against you
- Organized list of all your bills with an outstanding balance, as well as a copy of each
- Notices of foreclosure, eviction or repossession
- Copy of declaration page for homeowners/auto insurance
- Bank statements from each of the last 12 months
Having these items with you at your first meeting with the bankruptcy attorney can help them determine which type of bankruptcy is best suited to your financial situation. There are four different types of bankruptcy an individual living in Stoughton, MA can file.
- 1) Chapter 7 Bankruptcy is known as "straight bankruptcy". This is the most common type of bankruptcy but there are certain guidelines that you must be able to follow. It is critical that you have a bankruptcy attorney available to walk you through these requirements.
- 2) Chapter 13 Bankruptcy is called "debt adjustment". People typically file this type of bankruptcy if they don’t meet the requirements of the Chapter 7 bankruptcy. In this situation, it requires debtors to file a court-approved payment plan. In this plan you get 3-5 years to repay your debt.
- 3) Chapter 11 Bankruptcy is known as the reorganization bankruptcy and is most common for businesses that need to file bankruptcy. However, it can be used by individuals whose debts are very large as well.
- 4) Chapter 12 Bankruptcy is a form of bankruptcy that is designed especially for farm owners who are in need of filing bankruptcy.
Each type of bankruptcy is designed to meet the needs of each individual or business that is filing bankruptcy. As it goes, filing bankruptcy can often be confusing and very overwhelming. However, with the help of a bankruptcy lawyer from the Law Office of Brian R. Lewis, your questions will be answered and the process should go quite smoothly.