You have talked over the possibility of filing bankruptcy with your family in detail, and feel as though you are set to make the decision. However, you have some doubts about the bankruptcy process, and do not want to spend several dollars getting advice from a lawyer. There are various places that will allow you to receive free bankruptcy case evaluation, so that you can be informed about the process as you’re working to better your financial health.

Before you download your Chapter 13 bankruptcy checklist for filing, you will need to figure out which type of bankruptcy you’re filing for. If you are looking for a debt consolidation type of program, you may want to file for Ch 13 bankruptcy. This will halt creditors from calling, and will prevent you from facing foreclosure or wage garnishments. You submit your repayment plan to the bankruptcy court, and you’ll be assigned a plan that will allow you to settle your debts in 3-5 years. The court will issue an automatic stay for you, which means that this will stop all lenders from making any further action on your accounts. About a month after the ruling, you will be required to go to a 341 meeting that will last for about fifteen minutes. This meeting will allow your creditors to question whether or not you can pay your debts. The lenders will usually ask if you can pay at least 50 cents on the dollar, and if you’re not able to do so, they won’t object to your bankruptcy.

You’ll also need to find out if free bankruptcy forms Chapter 7 are available from a local agency if you are going to file for Ch 7 bankruptcy. This will allow you to have all your properties organized according to what you can pay. You’ll still have to attend a 341 meeting for this type of bankruptcy so work with your lenders as much as possible to come up with a solution.

It’s a good idea to take free bankruptcy evaluation offers online. In most cases, your initial consultation will be free, so be sure to get as much information as you can at the first meeting so that you can continue the filing process on your own if need be. You can also choose to file bankruptcy yourself if you want to save on legal costs.

Before you fill out and send in your bankruptcy documents, it’s important to make certain that you take a serious look at your finances to determine if there are any consolidation tools that you and your family can put into place without filing bankruptcy. Bankruptcy should be your last resort, but it can help you to restore your credit successfully.