Debt Solutions

Bankruptcy Preparation

(Do's & Don'ts)


1. Talk to a bankruptcy attorney to see if you qualify

2. Stop using credit cards immediately

3. Gather documents

  • 2 years’ prior tax returns
  • 6 months bank statements for all personal and business bank accounts
  • 6 months’ pay stubs or evidence of all monies received (i.e. Award letters, proof and loss statement, child or spousal support orders)
  • Copy of driver’s license and social security card
  • Copy of most recent credit statements
  • Copy of recent automobile statements or other
  • List of expenses & assets
  • Copy of retirement statements
  • Copy of investment account statements
  • Copy of lawsuits, HOA, and mortgage statements
  • Copy of bank levies, wage assignments, or property liens


1. Do not transfer property

2. Do not charge on credit card

3. Do not incur new debt

4. Do not hide assets

5. Do not wait to file unless directed by your attorney

6. Do not pay back family and friends

7. Do not make luxury purchases

8. Do not withold information

Further reading

Bankruptcy Myths

Understand common myths of bankruptcy

The Process

Learn the bankruptcy process & what to expect

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