Today’s question comes from a reader who asks “Are there any steps I need to take before filing for bankruptcy?”
Yes there are several things you should do before filing. First you need to be sure bankruptcy is the best option for you. Next you need to decide which chapter (type) of bankruptcy is best. Then you need to analyze whether or not the trustee will or might take any of your property. It’s possible to plan for your bankruptcy by making changes in what you own, turning non-exempt assets into exempt assets.
After you’ve done all of this you need to start gathering the information you’ll need in order to prepare the schedules and statements. Your attorney can help with this. If you’re going to file pro se, meaning without an attorney, check out our Bankruptcy on a Budget program.