Filing for bankruptcy can be a big step to make. It is important for a person who wants to file for bankruptcy to go into their first meeting having an idea of what they want to aim for. This will make the rest of the process flow much more smoothly, making it easier for all parties involved.
Having a thorough documentation of all debts incurred is a good place to start. This includes official debts such as credit card, scholastic or medical debts, as well as car or mortgage payments that are overdue. In addition, it applies to debts to family members or friends. Every debt, as long as they are cosigned, should be listed on a bankruptcy schedule in order to be properly documented. Writing these down ahead of time will make it easier to figure out which debts can be discounted due to being dischargeable.
There are some non-dischargeable debts. According to the United States Courts, these can include alimony and child support or student loans, which will need to be paid off regardless of whether or not bankruptcy is filed for. Outside of keeping track of debts, keeping track of questions to answer at the first meeting is a good idea. It is also wise to keep track of funds and other monetary issues, as well as the number of times that bankruptcy has been filed for in the last 8 years.
By keeping these steps in mind, people may find their first bankruptcy meeting running a lot more smoothly than they had anticipated, resulting in less time spent worrying over debt and filing.