Are You Ready To File Bankruptcy On Your Own? What To Know First To Be Safe
If the stacks of bills that you have keeps getting bigger and bigger and you think that bankruptcy could be the only way that you can get out of debt, you want to meet with a bankruptcy lawyer first. There are many misconceptions when it comes to bankruptcy, and it may not be as easy to move on with your life after you file as you think it will be. Here are some of the things that you want to talk with your lawyer about, things to see if they can do, and what to know before you file.
You Aren't Guaranteed a Fresh Start
Some people think that as soon as they get approved for bankruptcy all of their debts are gone and they get a fresh start. This is not true, and actually there are many debts that don't get erased through bankruptcy. This includes:
- Child support
- Law suit payments
- Some student loans
A lawyer can talk with you about what debts of yours won't be erased, so you can see if it's worth filing for bankruptcy and if you will really get a fresh start.
Bankruptcy Follows You Around
You will legally have to answer yes that you have filed for bankruptcy on many types of applications for loans, credit cards, jobs and more. This is something that you could be legally penalized for lying about and something that you may not want to have on your public record.
Your Lawyer May Have Better Options
The lawyer that you are working with may have some better solutions for the debt problems that you are dealing with. They can work with the creditors that are calling and see if they can refinance into one loan for a simple, easier payment each month. Explore consolidation possibilities, along with settlement, debt management and more.
If your lawyer doesn't think that there are any solution options for your debt problems, then bankruptcy could be the only way to go. Talk with the lawyer about filing the application for you, so you don't have to worry about delaying the process with mistakes that you could make if you don't have experience in the matter. You want to find relief and a solution to your debt so you can get out of the financial strain you've been living under, and so you can move forward with your life and try to improve your finances. For more information, contact an experienced attorney from a company like The Gil Law Firm.