Important Note: This checklist is not in any way meant to replace the superior advice of your attorney. The checklist is literally meant to be a friendly gesture and hopefully is valuable. If you are unsure about any of the items, consult your attorney immediately.
- Court filing obligations: There are certain documents that need to be filed with the court before you get your discharge.
- For example, proof that you have taken the financial management course or a signed statement that you either do not have or are current with a domestic support obligation (aka: child support).
- Plan now to have these items taken care of the month before your case ends.
- Post-bankruptcy payments: If you successfully rehabilitated your house or car loan and there is still a balance on the loan. With the trustee officially out of your life, paying those “good” creditors is all your responsibility.
- You may want to review your budget and plan for when those payments will go out so they are never late.
- Post-bankruptcy statements: Many times certain lenders stop or refuse to send you statements while you are in bankruptcy or they send them to your attorney. Take the time now to learn who and what number you call to get the statements sent to you.
- Do not depend on the lenders to automatically start sending you statements, confirm how this will be handled.
- Non-dischargeable debts: Simply debts your Chapter 13 did not wipe away or pay in full. Do you have any?
- If yes, make a plan now on how and when you are going to pay them after the bankruptcy is all over.
- Start a post-bankruptcy budget: At the end of your bankruptcy, the amount of money that you have faithfully used TFS to send to the trustee each will become available to you. It will remain in your bank account.
- Keep exercising the financial discipline you have grown accustomed to over the past three or five years and plan, plan, plan.
- We suggest updating schedules I & J to form your budget. Plan how much of the disposable income will go to fund a financial cushion or savings account. Plan for how much will go to help reestablishing credit. Start the process now, so you can hit the ground running.
Keep your eye on the prize and finish up your bankruptcy strong. Use this list to help you start framing your thoughts and how you will handle life after bankruptcy. And remember, we at TFS are rooting for you. We are confident you will succeed.