6 Steps to Take when Filing for Bankruptcy

If you face huge debts and they keep increasing, this is the right time to think about filing for bankruptcy. However, make sure that you get the necessary legal advice before taking any further action. This is what will help you find out more about the pros and cons involved.

Look for reliable bankruptcy lawyers, such as ariano reppucci law offices, as they will provide you with the necessary knowledge and tips.

Keep in mind that bankruptcy filing is not for everything, so that it makes sense to explore other available options first. If your bank accounts and wages are garnished, you have many unsecured debts, lawsuits against you and need to deal with credit collection actions, filing for bankruptcy is your only way out of this hard situation.

There are certain things that you can do before taking this serious financial step.an upset piggy bank and coins

  • Assess your current financial situation. This means that you need to be aware of regular incomes, expenses and other things. Determine the main reason that caused such problems. This can be anything from your job loss to unexpected expenses, such as medical bills.
  • Focus on your creditors and debts. Make a list of credit companies that must be paid off. Many borrowers make one common mistake because they think that they are included in this list automatically, and then they end up with valid debts.
  • Inform your credit companies about your intentions to file for bankruptcy. They must be provided with detailed information and all contacts with them will be handled by your reliable lawyer.
  • Get your credit counseling certificate. It is one of the main requirements that should be met to get access to bankruptcy benefits. Waiting until the last minute is a poor idea.
  • Obtain the expert help of experienced lawyers. Do not forget that this process is complex and stressful, so that you may not be able to go through it on your own. Only trained legal professionals have the skills and knowledge necessary to complete this task and help you get a debt discharge. That’s why their services should not be underestimated. This is what makes a huge difference in the successful resolution of your bankruptcy case.
  • Plan each step correctly. As soon as you file your petition and papers, there are other things that should be handled, like meeting with creditors and attending court proceedings. Make sure that you do everything properly.

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