The Bankruptcy Law Center
Law Office of Don Provencio, PA
Albuquerque, NM

The Bankruptcy Law Center - 505-242-STOP (7867)

Stress over increasing debts can impact all aspects of your life. It is important to know that you can empower yourself with knowledge about how you can erase your debt and regain your quality of life. I will help you explore your options. I will help put an immediate end to creditor harassment and start the steps to a fresh financial start.

The Steps You Should Take Before Filing For Bankruptcy
Prior to filing for Bankruptcy the Courts require verification of certain information. After retaining our Firm we will collect certain documents from you in order to assist you in properly preparing a Bankruptcy Petition which will be reviewed by the trustee of the Bankruptcy Court. Some of that information and/or documents are set out below.

          Identification - Bankruptcy laws require an official photo ID,           such as a driver's license, and verification of your Social           Security number. You must attend and show your           identification to the trustee at the meeting of creditors which           is usually held about 30 days after the Bankruptcy Petition is           filed. If you have an Attorney then he or she must represent           you at the meeting of creditors.

          Proof of income - You need to provide verification of your           average monthly gross income from all sources for the last           six months prior to your filing date. If you own a business,           you need to submit a profit and loss statement. Proof of           income is used to determine whether a Means Test expense           calculation is necessary to qualify for a Chapter 7
          bankruptcy. If you don't qualify for a Chapter 7 bankruptcy           because your income is too high, or you need to file a           Chapter 13 for other reasons, then your last 6 months           income is used in factoring your disposable monthly income           which in turn determines your monthly plan payment in a           Chapter 13 bankruptcy. Don't worry because I will go over all           of this with you if you decide to proceed with a Bankruptcy           filing.

          Income tax returns - Your last year's income tax return is           reviewed by the Bankruptcy trustee and, if you are in           business, then additional years of tax returns can be           requested by the Bankruptcy trustee. If you have unfiled tax           returns then you must prepare them in time to provide the           Bankruptcy trustee those returns prior to your meeting with           the trustee.

          Account statements - Regarding credit cards, auto loans,           lawsuits and personal debt with friends or family. All current           financing statements for any mortgages or loans on vehicles           or equipment.

          Investment and retirement account statements - Recent           statements for stocks, mutual funds, IRAs and 401(k)s.

          Bank records - Two months of statements from your bank,           credit union or any other financial institution.

          Household expenses - From mortgage payments and           utilities to food and medical expenses this vital information is           necessary for you to verify monthly allowable expenses in a           Bankruptcy.

Preparation for the process is important. Providing me with the information required by the Bankruptcy Court will give me a clear and complete picture of your financial situation so I can provide counsel to you on the best strategies to obtain your goals of becoming debt free. My goal is to end the stress of your mounting debts so you can go back to enjoying your life.

With the information set out above I can advise you on whether a Chapter 7 or Chapter 13 bankruptcy is more suited to your situation. With your input I will prepare the Bankruptcy Petition which we will review together prior to filing. Once I file those documents we'll meet with a trustee within approximately 30 days. All collection activity will stop once creditors receive notice of your bankruptcy filing which takes approximately 3-4 days from filing. We will attend the meeting of creditors with you to make sure the process goes smoothly and stress free.