The breaking point with your creditors has finally come. No longer can you live with the constant din of your phone ringing and your mailbox stuffed with threatening letters. You know you can’t pay the debt because you’ve undergone a calamity that affected your income. Bankruptcy in Hartford, CT, is looking really good because you know you can eliminate your debt and move on with your life. It also permanently quiets your creditors, and they are never going to be able to contact you again in your lifetime. But, you don’t know what it involves and you need to know more.
Before you even get to the point where you can file for bankruptcy, you have to fill out a means test and complete a credit counseling course. The means test is a series of questions that you answer in a general fashion. It’s not the actual bankruptcy petition, but it does prepare you for the actual filling out of the information that you are going to have to accomplish. After you complete the means test according to instruction, you learn which chapter of bankruptcy that you are eligible for. It’s one of two chapters, 7 or 13.
In the meantime, you have to take a credit counseling course as part of the requirements for filing. You actually have to do a part one and a part two, one to be completed before and the other half to be completed after the petition is in motion. This requirement was part of the major changes to bankruptcy laws enacted in 2005. It was felt that bankruptcy wasn’t teaching the lesson it was designed to, and that mandatory credit counseling was necessary. However, you can take courses online as long as they are certified and offer a certificate of completion that satisfies the court.
This is just the beginning of filing for bankruptcy. You are going to do a lot of work to get your information together so you can supply it to a lawyer such as Jefferson Hanna Law. The lawyer goes through your finances, helps you with the means test and the petition while guiding you through the process from start to end. Click here for more details.
