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Filing for bankruptcy, especially if it’s your first time doing it, can be confusing and horrifying. While you are burdened by the thoughts of losing all your assets and money – which is, fortunately, a big myth – you’re also troubled for the fact that you don’t know how to file for bankruptcy. If this is you, good news to you because filing for bankruptcy is not as complicated as you think! In fact, it’s really simple!

Now, if you’re just in this stage where you wonder if you qualify for bankruptcy, there’s a hassle-free way to do it – simply take our FREE bankruptcy case! You can do that by clicking that orange button above.

The process is very simple: take the test, and see your results. You don’t need to find an attorney for a consultation or do your own guesswork; the results will tell you what you need to know!

If you need an attorney, however, to settle your bankruptcy case, hire the best Riverside, CA bankruptcy attorney nearby!

So, how do you file for bankruptcy? Take these 4 simple steps.

Step 1: Consult with a qualified lawyer

Once you learned that you’re qualified for bankruptcy (again, click that orange button above to see if you’re qualified!) and decided to file it, have a qualified lawyer work with you to help you in your case.

Here are some tips when looking for a lawyer:

  • Have relevant experience and a proven track record – experienced lawyers simply know what they do because have already done them again and again. If they helped others, they most certainly can help you, too!
  • Cares for his/her client – Experience and skills are not enough, however. Some lawyers are very skilled but doesn’t take care of his/her clients. That’s why some highly-skilled lawyers have bad reviews – clients don’t trust that they care about their case.
  • Charges reasonable fees – One fear we have of hiring a lawyer is because it can cost us more than what we can get. While some lawyers do charge unreasonably, some does charge reasonably. Just have the diligence to find them.

Step 2: File bankruptcy documents

Once you’ve found a lawyer, he/she will assist you on what documents you should file. Typically, the documents you will file are based on what bankruptcy Chapter did you filed for.

The process typically begin by compiling all your financial records – assets, liabilities (debts), income and expenses.

Then you will file documents claiming you want to declare bankruptcy. This is, again, an individual case, so it’s between you and lawyer on how you’ll do the filings. Just keep your financial records intact!

Step 3: Cooperate with trustee

According to Investopedia, a bankruptcy trustee is “a person appointed by the United States Trustee, an officer of the Department of Justice, to represent the debtor’s estate in a bankruptcy proceeding.”

A bankruptcy trustee will oversee your repayment plans; this depends on what Chapter you filed for.

If you filed for Chapter 7, the trustee will oversee the liquidation of your assets. If you filed for Chapter 11 or 13, the trustee will oversee your reorganizational (Chapter 11) or repayment (Chapter 13) plan.

Step 4: Obtain discharge of debts

Lastly, all you need to do is to obtain your discharge of debts.

A discharge of debts is a document relieving you of (most) of your debts after filing for bankruptcy. Once everything is settled, you can return to your normal life and start building your financial assets again!

Conclusion

Filing for bankruptcy is really that simple. It begins with a qualified lawyer, and he/she will help you through the processes.

If you need an attorney to help you in this matter, be sure to have the best Riverside, CA bankruptcy attorney now!

But before you file for bankruptcy, be sure to know if you’re qualified to – and our free bankruptcy test will help you determine that! Just simply click that orange button above and you’re good to go!