The bankruptcy process is not the easiest to navigate alone, which is why having a bankruptcy lawyer assist you can be extremely beneficial. Besides knowing the ins and outs of bankruptcy, they also act as your representative and mediate any interactions with creditors on your behalf. While having a lawyer can significantly improve your chances at a successful outcome, there are a few things you should do to ensure you get the most out of your case.
The bankruptcy process requires full disclosure of your financial details. This includes information about all your debts, assets and even bank or fund accounts. Hiding or concealing information can be extremely detrimental to your case. Even if you don’t think a particular financial detail is relevant, it is best to report it to your lawyer and the court anyway. Always be honest about what you have spent, what you earn and the status of all of your assets.
Not only must you be honest about your financial situation, but details matter. In fact, a single mistake or inaccuracy on your bankruptcy filing can delay the case or even have it dismissed. The average bankruptcy petition is anywhere between 40-60 pages long. This is because the court requires an in depth look at your income, expenses, assets, debts, fund accounts and financial transactions in order to determine how to proceed with your case. No amount of detail is too great when filing for bankruptcy.
Filing for bankruptcy can be a tough decision and dealing with debts becomes stressful quickly. However, in order to maximize the outcome of your case and successfully complete the process you must be patient. While your bankruptcy lawyer is working to resolve your case, remember the level of detail they are dealing with. As your mediator, your lawyer is having to manage your creditors, file paperwork and communicate with the court. This is no easy task and requires due diligence. Be patient with your lawyer and stay in contact when you have questions or need to make any changes.