Interview several attorneys before you hire one and ask questions about education and experience. There is a long list of personal bankruptcy attorney for you to choose from. You may think that hiring the chief lawyer is the way to go; however, remember that your fate is in the lawyer’s hands. Hire one with a successful record for handling bankruptcy cases.
Bankruptcy should not be put off until the very last second. Many people simply try to ignore their financial troubles, hoping that they will somehow go away, but this is a huge mistake. Personal debts can spiral out of control very quickly, and if you don’t take care of them, you may find yourself facing foreclosure or wage garnishment. Consider all possible options before filing bankruptcy.
It is important to understand clearly the benefits of a Chapter 7 or 13 bankruptcy. Learn the benefits and drawbacks of each type before deciding which is right for you. If there is anything that you don’t understand, go over it with your lawyer so that you can make the best decision.
Safeguard your home. Just because you’re going bankrupt doesn’t mean that you also have to be homeless! If your home has significantly depreciated in value or you’ve taken a second mortgage, it may be possible to retain possession of your home. There are also homestead exemptions which, depending on your other finances, may allow to remain in your home.
Don’t take out big cash advances from any of your credit cards prior to filing for bankruptcy, taking advantage of the fact that those debts will later be erased. This is fraud, and you will be required to pay that money back.
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