Steps to a sucessful Bk?

[lostindebt]

I am starting to get stressed out! We plan to file in April.

Due to a pending business lawsuit we will either qualify for 7 OR if I am able to get the suit dismissed it will automaticlly be a ch 13. The chapter 7 is up in the air even with the suit because of the size of our income. (over 150k)

So - what steps should I start prepping for a sucessful BK in april?

Some ideas thus far -
1. Change withholdings on DH paychecks to have addl money witheld so we dont owe taxes for 2010.

2. I have enrolled in school and will be a full time student come Jan and also unemployed.

3. Make additional payments to IRS for backtaxes owed to reduce disposable income.

4. Fix up older cars. maintance.

5. cease all cc usage.


Any other pointers? TIA!

[StartingOver08]

Start downloading each and every cc statement and bank statement - you will most likely need to provide more than 6 mths of data because of your income. If you have all of your documentation on your hard drive (go back 2 yrs min) then you will have the data if the trustee asks for it. Don't print anything until the Trustee or your attorney requests it. All of your cc access will be cut off once you stop making payments on your accounts so do this before that happens.

[frogger]

All of your cc access will be cut off once you stop making payments on your accounts so do this before that happens.

Perhaps not. I haven't paid in 3 months, and the only one that has cut off internet access has been Lowes/GEMB.

@lostindebt - you speak of a pending business lawsuit. Do you have a business, and if so, is it any type of corporation?

[lostindebt]

the lawsuit is already in "process" and has been for about a year. I no longer own the business but I signed a personal guarantee on a lease for this company back in 05' so they are suing me personally.