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How To Effectively Prepare For Bankruptcy

Although financial problems typically present urgent needs, quickly rushing into bankruptcy could create additional issues. Spending some time working with a legal professional in advance can position a bankruptcy filing for the best possible outcome.

Attorney Dallas Janssen at Janssen Law, PLC, knows that preparation can make a difference. He will works alongside you to explore the options specific to your circumstances. If you are considering bankruptcy, he can help you plan for the process.

What To Do Before You File

Mr. Janssen can guide you through bankruptcy preparation, which includes:

  • Completing credit counseling through a nonprofit agency, which is a prerequisite of bankruptcy court
  • Determining whether to file Chapter 7, Chapter 11, Chapter 13 or another type of bankruptcy, depending on your situation
  • Maximizing the value of property that would be exempt from bankruptcy, including assets that may be nonexempt today
  • Taking note of which debts would not be dischargeable in bankruptcy – such as tax debt, student loans and unpaid child support – and prioritizing your interim finances accordingly
  • Determining how to budget expenses without opening new credit
  • Avoiding mistakes that could jeopardize you once you file for bankruptcy, including fraudulent transfers to “insiders,” who often include family or friends of a debtor
  • Understanding what the bankruptcy process will involve and how the bankruptcy trustee and court make decisions

Bankruptcy is a highly complex area of law. It is important to act under trusted guidance – even months or years before a probable filing. Mr. Janssen pays close attention to each client’s unique circumstances to create a personalized preparation strategy.

The wrong move shortly before filing for bankruptcy could undermine your case by risking creditor disputes, fraud allegations and loss of otherwise protectable value. Collaborate with Janssen Law, PLC, to prevent problems from arising and pursue the most financial relief possible.

Starting Today Can Protect You Tomorrow

To discuss an upcoming bankruptcy case, call 844-879-2839. You may alternatively send an email to schedule a free consultation. Based in Des Moines, Dallas offers counsel to individuals and business owners across Iowa.

Janssen Law, PLC, is a debt relief agency. Attorney Dallas Janssen helps people file for bankruptcy relief under the Bankruptcy Code.