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Plan Before You File

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.

At Janssen Law, PLC, our attorneys know that preparation can make a difference. We work alongside clients to explore the options specific to each individual case. If you are considering bankruptcy, we can help you plan for the process.

What To Do Before You File

Our experienced bankruptcy lawyers 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 according to 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,” which 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 in advance of a probable filing. Janssen Law, PLCpays 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 our law firm to prevent problems from arising and pursue the most financial relief possible.

Starting Today Can Protect You Tomorrow

To discuss an upcoming bankruptcy case with a lawyer at Janssen Law, PLC, call 515-421-9068. You may alternatively send an email to schedule a free consultation. Based in Des Moines, we offer counsel to individuals and business owners across Iowa.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.