Filing bankruptcy can be a major life decision that will have an impact on your finances, perhaps, for the rest of your life. That’s why it’s important to make sure that you have the bankruptcy forms necessary to handle your filings with a solid foundation of legality without paying too much money to a lawyer or tax accountant to handle these filings for you.
Because the decision going into bankruptcy can be such a difficult one, it’s important that your legal documents are one of the simplest parts of the equation. For example, having Chapter 7 personal bankruptcy forms ready to go will help you understand everything that goes into the decision – you should be able to read through them and gain a foundational understanding of exactly what you’re getting into.
What do these bankruptcy documents include?
Chapter 7 – Personal and business bankruptcy, also known as a basic “liquidation.” This is the simplest type of bankruptcy available to most people. It’s important to remember that this type of bankruptcy will not shield you from all debt – for example, student loan debt is not wiped away with this type of bankruptcy.
Chapter 11 – This type of bankruptcy form is filed by businesses who want to restructure their business because of debt. It can, however, be used by individuals who have a lot of assets under their control and want to attempt a similar re-organization. Oftentimes this type of bankruptcy is known as corporate bankruptcy.
Ensuring that your bankruptcy declaration is handled without a hitch is up to the quality of your legal documents. We encourage you to download the right legal forms you need to declare – or at least look into – bankruptcy if you are certain that you’re making the right choice for you and your family. If you do it right, bankruptcy can be an option that ultimately leads to a better future.
To download the bankruptcy forms you need, CLICK HERE.