If your monthly bills are overwhelming you and your debt is piling up, your second step might be seeking the advice of an attorney to discuss filing bankruptcy.

You may be wondering what the first step would be. Trying to eradicate your debt would be your first step. If you have made dramatic sacrifices and made every attempt to handle your debt, but to no avail, then filing bankruptcy may be the solution for you.

In order to file your voluntary petition and other accompanying documents, you will need the assistance of a bankruptcy lawyer. In order to begin the process, you will need to disclose information about any properties you own, your income, your expenses, and the amount of money you now owe. The U.S. Bankruptcy Court is the place to file these documents. .

How to file bankruptcy is something you need to know, should you be faced with filing bankruptcy proceedings. There will be a court appointed trustee who will review your paperwork for accuracy and to ensure that all required information is included. Your creditors will be contacted by your assigned trustee, and upon notification of your bankruptcy, they must cease all debt collecting activity. It is also the responsibility of the trustee to supervise your case and manage the disposition of your assets.

This will be followed by a meeting with your lawyer, your creditors, the trustee, and in some cases the creditor’s lawyer. This is the time for concerns and objections to be addressed.

It will then be at the discretion of a U.S. District Court Judge, who will decided whether your debt will be dismissed for a Chapter 7, or accept your payment plan for a Chapter 13 Bankruptcy. .

Ensure that all paperwork is accurate, and turned in in a timely manner, as bankruptcy judges usually have many cases that they are working on at a given time. Your selection of a bankruptcy attorney who has experience with the bankruptcy procedures, will make process go much smoother.