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Process for filing bankruptcy

Tel: 212-571-1898,718-509-6542

914-380-4209, 914-481-3450

www.johncranebankruptcy.com

Process for filing Bankruptcy

What is Bankruptcy?

• Bankruptcy is the legal procedure that a person undergoes when heis unable to pay back his debts. It is a legal process that establishesthat a person is no longer able to pay back his debts as promised.

• The result is that once the bankruptcy is discharged his creditorsloose legal rights to try and recover the money or file a lawsuit incourt regarding their claim. So, Bankruptcy is the best option toeventually help you get back on your feet.

Filing bankruptcy starts with gathering information

• First of all you should document all of your income for thepast several months. This would include any tax refunds,dividends, paychecks, gifts, annuities, and interest.

• This is meant to help calculate the reasons why you are filingbankruptcy. Your amount of income will help to determinewhat chapter of bankruptcy that you can file for.

Gather a list of your possessions and assets

• This will include any mortgages, cars, jewelry, valuablehousehold goods, clothing, stocks or bonds, bank accounts,checking, savings, cash, CD’s, retirement accounts, andanything else that might have value.

• This helps the state determine what can be saved and sold atauctions to help pay off your debt.

Get a list of your debts

• Debts include credit cards, loans, settlements, housepayments, etc.

• After collecting all the above information you are ready to filea petition.

Hire an experienced Bankruptcy lawyer

• Bankruptcy law is very complex to understand. But withthe right kind of attorneys to represent you in court, it willnot be tough or stressful.

• If you directly handle the case without having any legalknowledge, you could lose the assets you are trying toprotect. So, it is always good to hire an experiencedBankruptcy lawyer for the successful completion of thejob.

Contact us:John M. Crane, P.C.

Bankruptcy attorney, White Plains, Manhattan

Tel: 212-571-1898,718-509-6542

914-380-4209, 914-481-3450

www.johncranebankruptcy.com