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Posted On: August 3, 2010 by Scott Sagaria

5 Tips For A Bankruptcy Reorganization Plan

A Sacramento bankruptcy attorney provides 5 Tips For A Bankruptcy Reorganization Plan

Bankruptcy Tip 1.
A reorganization plan will require the advice and direction of a competent attorney. Fees will be required. The first tip is to save for attorney fees and costs. A good attorney is worth it. Bargain shopping for bankruptcy is not a good idea.

Bankruptcy Tip 2.
Gather up all financial records like pay statements and bills. Disclosure is key in bankruptcy. Your income will determine whether you qualify for a Chapter 7 or Chapter 13 bankruptcy. Bills will determine what gets restructured and what gets wiped out.

Bankruptcy Tip 3.
Find your identifying information such as your driver’s license and social security card. They will be needed to present to your bankruptcy trustee after you file.

Bankruptcy Tip 4.
Have an open mind and listen to your attorney. Some of the advice that your attorney gives may be information about the requirements of bankruptcy or may be consistent with fair treatment given to creditors. For example, payments to family members within one year of filing are payments that can be avoided by the trustee and used to pay your creditors in an equal manner. Your chapter 13 may require you to pay your car payment to the trustee instead of the car lender. The attorney can’t do anything about these rules.

Bankruptcy Tip 5.
Maintain communication with your bankruptcy attorney’s office. Make sure that your bankruptcy attorney knows where you are during the pendency of your bankruptcy. Moving and switching phone numbers during or right before you file is not a good idea. The information contained in your bankruptcy may require further investigation and follow up.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento and Roseville!

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Posted In: Chapter 11 Bankruptcy

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