Considering Bankruptcy-Things you should know
Bankruptcy is the most powerful tool you can use to deal with your creditors. It is like a boxing match, that ends with you winning by knockout. No more debts, stop collection calls and no more worrying about your future.
For individuals, there are two main type of bankruptcies, Chapter 7 and Chapter 13. Which one you file will depend on the relief you are seeking and your financial situation.
The date you file bankruptcy is important. Bankruptcy is voluntary, you decide when to file. What date you file is the most important decision you will make.
Bankruptcy can only be filed once every eight years. The point here is that since bankruptcy is so powerful, you need to make it count.
In most individual bankruptcy cases, you will not actually go to court. Instead, you appear before a trustee. The trustee will ask you questions and determine that the information you have listed on your petition is true and accurate.
In summary, if you are considering bankruptcy you need to review your financial situation. I review my client’s case with them and let them know if I think there will be any problems with filing. I want my clients to know what to expect and not to worry about the process.
For individuals, there are two main type of bankruptcies, Chapter 7 and Chapter 13. Which one you file will depend on the relief you are seeking and your financial situation.
The date you file bankruptcy is important. Bankruptcy is voluntary, you decide when to file. What date you file is the most important decision you will make.
Bankruptcy can only be filed once every eight years. The point here is that since bankruptcy is so powerful, you need to make it count.
In most individual bankruptcy cases, you will not actually go to court. Instead, you appear before a trustee. The trustee will ask you questions and determine that the information you have listed on your petition is true and accurate.
In summary, if you are considering bankruptcy you need to review your financial situation. I review my client’s case with them and let them know if I think there will be any problems with filing. I want my clients to know what to expect and not to worry about the process.