The entire process for my business bankruptcy including my personal debt was pretty simple, I had to:
- fill out monthly budgets,
- which the trustee helped me with whenever I had questions
- send the trustee my tax information,
- so they could file my taxes and get me up to date with my filings and
- make sure the tax debt I had was wiped out in my bankruptcy
- meet the trustee two different times,
- at the beginning of the process to go over the budgeting, and
- at the end to go over financial goals and re-establishing myself.
I was able to get work managing a restaurant about 2 months after I went bankrupt.
Once I started working, the trustee explained that I would be in bankruptcy for 21 months and have to pay $220.00 a month for the rest of the the bankruptcy, so 19 months.
I made my payments and when the bankruptcy was over and I got to start over again, with no debts. I saved over $150,000.00!
I wish I had talked to someone like YanchDey before I ever went into business so I would know what I was getting into.
I am just grateful that they were there to give me good advice and get me out of a terrible situation, my life has completely turned around for the better.