When your finances take a turn for the worse, it can make things extremely difficult and frustrating. Before you know it, you aren't able to pay your monthly bills. Credit card companies, the mortgage lender, utility companies, and doctors are calling your home and asking where their money is. You find yourself feeling like there is nothing you can do. Thankfully, that isn't the case. With a Chapter 7 bankruptcy case, you can put an end to your financial woes and move forward with the fresh start you deserve. If you decide to go this route, make sure you don't make one of the mistakes below.
Forgetting to include all of your debts.
A Chapter 7 bankruptcy is meant to eliminate all of your unsecured debts, with the exception of child support, back taxes, and student loans. If you forget to include a bunch of your credit cards and medical bills in your petition, you will find yourself right back in the same position as before. Debts that weren't put into the bankruptcy paperwork aren't going to be eligible for discharge. It is more important than ever that you make sure you have every bill and debt you can think of included with your petition.
Not attending the trustee meetings.
After your case is filed, you will need to go to a 341 hearing, which is essentially a meeting of the creditors. Any of your creditors can show up and say their piece at these meetings. If you don't go to it, your case will end up being put on hold and you won't get your discharge as quickly as you thought. Make sure you are there on time. Your lawyer will ask you a few questions and you will be on your way in no time at all. Not showing up could make the court postpone your hearing or dismiss your case completely.
Putting off the debt counseling courses.
When filing for bankruptcy, you have to take two debt counseling courses. You can take them online and they only take an hour or so of your time, but they are crucial to getting your debts discharged. One course has to be taken before your case is discharged and the other is taken within 30 days of filing. Your lawyer will give you the information of where you go to take the courses.
By making sure you stay on track and avoid the mistakes above, you can be on your way to a debt-free life through chapter 7 bankruptcy in no time.
