Bankruptcy is open to all who can demonstrate a need for relief from their debts, but it’s not an easy thing to do. There is a lot of paperwork required by the courts, candor on behalf of the petitioner and patience above all. A Bankruptcy Lawyer in Des Moines provides a lot of help for these issues, including reassuring the filer as to how their particular case is progressing. There is a lot to be done, however, before the case is ready to be filed in federal bankruptcy court.
The first step, even though it may seem obvious, is to set up a consultation with a Bankruptcy Lawyer in Des Moines. The reason for this is because your bankruptcy is unique. No two bankruptcies are alike even though they go through the same legal pipeline to achieve the desired end. No two estates are alike, and you need a lawyer to look at your reasons for filing. There is also a plan of action to be taken, such as taking a credit counseling course and stop payments to creditors altogether.
A major part of bankruptcy are your assets. You may feel like you’re broke and have nothing, but you still have possessions that may interest the court. When you file for Chapter 7, you technically have to sell some of your assets in order to pay off your creditors. Chapter 13 allows you to keep your assets, but has different requirements for their retention. A Bankruptcy Lawyer in Des Moines has you list your assets, then goes through them with you in order to determine what can be exempted and what the court may take if an exemption does not cover something.
The most important part of the bankruptcy is honesty. You can not hide anything from the court, whether it be physical possessions that have a large value or a bank account. You may think that you can switch the bank account into the name of someone else, but you’re only doing yourself a disservice as the trustee is going to eventually find this out. This may be perhaps the most important part of bankruptcy, and your Bankruptcy Lawyer in Des Moines helps you stay honest so you can get to discharge without having your case dismissed beforehand.