The last few years have been rough financially. While the family has managed to stay afloat, a few unfortunate events have made it increasingly difficult to pay the bills. With balances seeming to rise faster than they can be settled, it is time to consider the possibility of filing for bankruptcy protection. After scheduling a consultation with a bankruptcy attorney in Washington, Indiana, it pays to begin gathering information to take along for that first visit.
Records of All Debts and Open Accounts
One of the first things the bankruptcy attorney in Washington, Indiana, will want to do is look over the debts owed by the client. In order to provide a complete breakdown of those debts, take the most recent credit card statements along with documents showing the current balances on mortgages, car loans, and any other outstanding debts. To be on the safe side, it never hurts to take along statements about any credit cards that currently do not have any type of balance. The goal is to provide complete disclosure about all types of accounts currently open in the name of the client.
Information on All Sources of Income
Along with information about open accounts and the amounts owed, take data related to every source of income the debtor currently enjoys to the meeting. This can include earnings from a job, proceeds from a trust fund, or even alimony paid by a former spouse. The attorney will be able to determine which sources of income the court will want to consider when evaluating the bankruptcy petition. A good rule of thumb is if the client is not sure a particular source of income will be considered, present it to the attorney and allow the legal counsel to decide if it is eligible for inclusion.
Remember that the attorney will base recommendations for bankruptcy protection based on the circumstances of the client. Issues such as the amount of debt owed, the annual income, and even assets the client has that could be sold to partially settle the debt will be taken into consideration. To get the process started, call the Feavel Law office and schedule an appointment. Doing so will be the first step in getting a fresh start.
