It’s hard to file for bankruptcy
While a bankruptcy petition is a daunting document that can be over 60 pages long, the documents your attorney will need from you to file your petition is much more reasonable. Certain factors, like being married or recently divorced, only receiving social security income, and being involved in a lawsuit may cause you to need to turn over more documents to your attorney and bankruptcy trustee. However, if you have important documents available such as your tax returns and six months’ of paystubs, the process will go much easier.
So, as long as you have your personal financial documents organized or at least know how to get them, bankruptcy shouldn’t be a complicated process. Once you submit the documents, you will just have to sign the petition, take your online counseling courses, and attend your 341 Meeting of Creditors. These steps should be relatively easy compared to negotiating and paying off thousands of dollars of debt.