When you are filing for bankruptcy, its essential that you list all of your creditors. However, a common problem is for a debtor to not remember all of his or her creditors. Often, when drowning in debt, its easy to take on a lot of debt from a range of creditors, so you'll need to have a plan for locating each creditor.
Write Down Known Creditors
Begin by writing down a list of known creditors. Then, look at all the bills in your home. These bills may allow you to find creditors that you have forgotten about. If there are any phone calls from bill collectors, find out who they are so you may write them down.
Find Who Owns Your Debt
One challenge is that your debt might have been sold to a different company. Therefore, you will need to find out who currently owns your debt. Some debt collection companies will immediately attempt to contact you and collect the debt, but other creditors may have not begun the process yet.
Look at Your Credit Report
Obtain a copy of your credit report. This will include many of your creditors. However, there are some creditors who may not be listed on your credit report if they are not reporting information to these agencies.
Add Creditors if You Miss Any
You'll be able to add a creditor to your bankruptcy after you have filed. It's important that you do this so you won't risk having your bankruptcy thrown out if its believe that you're attempting to avoid paying some of your debts. Some courts may require a small court fee to add an additional debtor, so it's important to identify as many as possible before filing for bankruptcy.
All of your creditors must be included on your mailing matrix, including even friends and family members who have lent you money. If you fail to include creditors, you may have committed perjury. The automatic stay also won't be in place and the creditors will be able to continue to contact you.
One way to help you track down all of your creditors is to work with a bankruptcy attorney service. Not only can you receive advice on how to file for bankruptcy in the proper way, but you can also have a bankruptcy attorney service in your corner that will go to bat for you when something goes wrong as you file for bankruptcy.
For more information, you will want to contact a professional such as Charles J Schneider PC.