Whatever led you to declare bankruptcy is probably very sad, but that doesn’t mean that you can’t have a better life after bankruptcy. The point of bankruptcy is to have a clean slate and a fresh start. Don’t look at it as the end of the world; read this article to help you determine how your life will be enhanced by bankruptcy.
Be certain you are making the right choice before you file for bankruptcy. Debt advisors are one of the many other avenues you can consider. Bankruptcy can leave your credit history permanently marked. Prior to doing this you need to be sure you try everything else first to get your credit history into shape and to lessen the impact.
Hide Anything
Don’t try to hide anything if you are filing for bankruptcy, as this will hurt you in the long run. The lawyer representing you when you file needs to have full knowledge of your financial situation. Never hide anything, and make sure you come up with a well devised plan for dealing with bankruptcy.
Investigate any new laws before deciding to file a bankruptcy. This area of law is in constant flux and it is imperative that you know where the law stands at the time you file for your bankruptcy. To find out about these changes, you can look at your state’s legislation website or contact their office.
It is wise to meet with several lawyers before making a final decision, take advantage of the free consultations to find one that is a good fit for you. Be certain you talk to the lawyer, himself, instead of a paralegal or assistant; those people aren’t allowed to give legal advice. Considering several different lawyers can help find someone to trust.
Spend time with loved ones. The process for bankruptcy can be brutal. Not only is the process long, but it can be stressful, and many people feel ashamed when they do it. Lots of people decide they should hide from everyone else until it is all over. However, this isolation will just make you feel worse, and it could cause you to be depressed. Time spent with people who care about you can give you new perspective on your financial situation.
If you are making more money than you owe, bankruptcy should not even be an option. Bankruptcy may appear like the easier way to avoid paying your old bills, but it is a huge mark on your credit score and remains there for up to 10 years.
Remember to have fun with your life when you’re done with the filing process initially. Many people feel a lot of stress while they work through the bankruptcy process. You do not want to have to deal with depression in addition to your financial troubles, so you should take steps to keep yourself happy. Life will surely get better after you finish this process.
Think about any co-debtors you have prior to filing for Chapter 7 bankruptcy. Once you have filed Chapter 7, you, by law, are not responsible for any of your debts that also include your co-debtor. Creditors, however, will hold the co-signer liable for the entire balance of the debt.
Make sure you understand your rights as you file for bankruptcy. Many creditors or bill collectors might tell you your debts cannot be included in a bankruptcy. Most states allow for the majority of debt to be included on a bankruptcy. If a collector tells you your debt won’t be discharged in your bankruptcy and you know that it will, report the collector to the attorney general’s office in your state.
Bankruptcy can be overwhelming to most people, and can be quite stressful. To have a reliable and trustworthy guide through the process, find a highly qualified attorney. Do not hire based on cost. Your lawyer does not necessarily have to be the most expensive one; however, you should be certain of his or her qualifications and abilities. Talk to friends who have been through a similar situation and ask them for referrals. You could also sneak into court to watch a real live bankruptcy proceeding to see how that attorney handles the situation.
As stated in the above article, anytime someone is forced into bankruptcy is never a happy situation. Nonetheless, filing for personal bankruptcy can be a watershed moment. The truth is, that by using the tips in this piece, it is possible to make bankruptcy a positive experience that gives you the fresh start you need.
This is a limited-time offer. We are not able to guarantee availability if you wait!
