If you are thinking about filing for bankruptcy here are a few easy tips:

1. Most people file a chapter 7, which completely eliminates your debt
2. Most people file because they have a large amount of credit card debt
3. Making the minimum payments on a credit card can take decades to pay off
4. In most cases in CT you are allowed to file bankruptcy and keep your house / residence, as the State recently increased the homestead exemption
5. If you are not sure if you pass the income requirements for a chapter 7, go to the trustee website to check on the income requirements. If you exceed the income requirements you may still be able to file if you have large expenses.
6. If you are thinking about filing a chapter 7 you would need to gather up the following documents: credit report or a list of creditors, recent tax returns, recent bank statements, recent pay stubs, recent mortgage statement, recent retirement statement, recent car loan statement, and a list of your personal monthly expenses.
7. Most people who are several months behind on their mortgage file a chapter 13 petition, which allows you to set up a plan to pay off the arrears on your mortgage within five years and also stops foreclosure proceedings.

Please send my office an email if you would like some more information, or a call back to determine whether you are a good candidate for a bankruptcy filing: [email protected]