When preparing for you free consultation with Mr. Mills, please bring the following documents to help us better understand your picture. If you can’t find all of these items, don’t let that discourage you from coming in. Often we can provide guidance on where this information can be obtained:
- The most recent bill or statement from each creditor
- All letters from collection agencies or lawyers
- Any papers relating to a lawsuit
- The past 6 months of paystubs
- The past 2 years of tax returns
- State ID (such as a driver’s license) and your Social Security card
- A list of real estate and automobiles you own
Although this is not a complete list of what’s needed should you choose to pursue bankruptcy, it serves as a starting place to help us make an initial analysis of how we can provide the help you need.
01 May 2017
Three major benefits come from bankruptcy. The first is the automatic stay, a federal court order that takes effect as soon as your bankruptcy case is filed. It prohibits your creditors (the people you owe money to) from calling or harassing you, suing you, repossessing anything or foreclosing on your home, or any other actions to collect a debt from you. They have to leave you alone.
The second benefit is the ability to claim exemptions. Exemptions represent certain types of property you can keep even though you’ve filed bankruptcy. These exemptions, in most cases, cover all the assets you own, meaning that in most cases you won’t lose any assets.
The third benefit is the discharge itself—the forgiveness of debt that bankruptcy provides to honest debtors—those that fully, accurately, and honestly disclose everything they own and everything they owe to the Bankruptcy Court.
Although these are the Big Three benefits that come from bankruptcy, there are many others—peace of mind, the ability to sleep at night, improvement of credit scores, the freedom to answer the telephone without fear that it’s another debt collector. Other, more technical benefits may also be obtained from a bankruptcy filing, like voiding certain kinds of judgments and liens against your property, and Mills Law knows how to use them to obtain the fresh start you need.