Preparing to See a Bankruptcy Lawyer in Cornelius, NC

by | Apr 10, 2015 | Law

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After trying everything to regain control of the finances, the decision is made to seek help from a Bankruptcy Lawyer in Cornelius NC. The hope is that the debtor will meet the qualifications necessary to receive approval for a Chapter 7 or Chapter 13 action. With the date of the appointment set, the debtor will need to begin collecting documentation the lawyer needs to evaluate the situation. Here are a few examples.

Documents Related to Income

Part of the work of the Bankruptcy Lawyer in Cornelius NC is to determine if the client is eligible for bankruptcy protection based on demonstrable need. In order to make such an assessment, the lawyer must have information about every source of income the debtor has in place. As part of the preparation for that first meeting, take documents that prove the amount of income received each month. Some examples of these documents include paycheck stubs, bank statements listing deposits, and income tax forms. For people who are independent contractors, taking 1099 forms for the most recent tax year is also a good idea.

Documents Related to Outstanding Debt

The lawyer must also have information about the obligations of the debtor. This means providing credit card statements, up to date information on any outstanding loan balances, and any other type of financial debt that exists. For people who receive statements in the electronic form, it is easy enough to print out copies of the most recent statements, along with any details about recently applied payments to those debts. If the client is currently under a court order to provide child support, documents relating to the custody arrangement should also be presented.

Basic Living Expenses

Take documents that provide a good picture of the costs of basic living expenses, such a rent, utilities, food, and other essentials. The idea is to ensure the lawyer has everything in hand to determine how much money the debtor has left over each month after taking care of basic living expenses.

For people who are in debt and see no way out, call the team at Lake Law PLLC today. That initial appointment could be the first step in getting the fresh financial start the client is seeking.

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