If you're considering filing for bankruptcy, the process begins before you even start the paperwork. What you do in the weeks and months leading up to your proceedings will determine your financial future. The bankruptcy attorneys of Greene Law, PC in Connecticut recommend following these five steps to make the transition smoother and set you on an upward course.

Preparing for Filing for Bankruptcy

1. Stop Borrowing

Don't open any new credit lines or run up your balance if you can possibly avoid it before Chapter 7 and 13 bankruptcies. In either case, the court may choose not to include recent debts in the proceedings, meaning you'll have the black mark of a bankruptcy on your record and still be stuck with the bill.

2. Budget

Filing for bankruptcy can reset your debts, but you won't change your spending habits without a conscious effort. Go over your budget and see what lifestyle changes you'll need to make to stay within your means.

3. Hire an Attorney

This isn't just a matter of convenience; only the simplest bankruptcy proceedings can reasonably be completed without legal counsel. Your lawyer will help you come up with a repayment plan, determine which of your assets are exempt from being sold off by the court, and file the paperwork properly the first time.

4. Get Distance From Creditors

For your own peace of mind and to avoid interfering with your own bankruptcy, don't communicate with creditors during this time unless your attorney advises you to. Don't answer calls from unknown numbers or companies you owe money to.

5. Plan Your Recovery

After your bankruptcy is completed, you'll be left with few assets and a low credit score. Work with your lawyer or a financial advisor to plan your recovery before you begin filing for bankruptcy.

The process of bankruptcy includes more than the paperwork. A good attorney will help you through this process and start you on the path back to prosperity. For advice about filing for bankruptcy, arrange a consultation with Greene Law, PC at (860) 676-1336 or online.