Last year I had some financial difficulties and I couldn't pay off my debt. The uncertainty of my financial future was adding to my already stressful life. After months of worry, I finally decided to contact a bankruptcy attorney. After discussing my options with the attorney, I decided to file bankruptcy. My name is Kyle Diggler and if you're struggling with debt and considering bankruptcy, I'm here to help you. I'm not an expert, but I want to share my story and my experience of filing bankruptcy with others who are in a similar situation. As you read my blog, you'll learn all about the bankruptcy process so that you'll know what to expect. I'll also share some tips to help you start your life over financially. I hope that my blog answers all the questions you have about filing bankruptcy.
Financial problems can have devastating effects on your quality of life and future prospects. Unfortunately, individuals will often find that it is extremely difficult for them to effectively overcome this type of problem. When you find that your debts are simply too large for you to manage, there are bankruptcy protections that you may utilize to help give yourself the best chance possible of a new financial start. If you come to the conclusion that filing for bankruptcy is your best option, there are a handful of points that you should follow as you prepare to meet with an attorney that specializes in these filings.
Have A Basic Understanding Of Your Current Financial Situation
Prior to your meeting with an attorney, you will need to closely review your current financial status. This will include having an accurate understanding of the current debts that you must pay along with your current income and any projected increases in earnings for the near future. As you are reviewing this information, you will want to make note of whether your dabs are secured with collateral and the nature of the income you receive. Without this information, it will be difficult for you to speak to your attorney in an informed manner.
Be Aware That There Are Different Types Of Bankruptcy Protection
Individuals will often assume that all bankruptcy filings are essentially the same. Yet, there are many different types of bankruptcy that a person can pursue, and each one can have its own advantages and requirements. This can make it surprisingly difficult for a person to know which type of filing they should pursue. By being aware of this fact, you should be better positioned to ask productive questions of your attorney so that you can better understand the filing option that will be most beneficial to your current situation.
Avoid Major Purchases In The Lead Up To Filing For Bankruptcy
Sadly, there are some individuals that will attempt to abuse the bankruptcy process by racking up large debts with the intention of getting them dismissed during these proceedings. As a result, the bankruptcy court will typically be very skeptical of large purchases that were financed by debt in the weeks and months before the filing. In fact, if it is determined that these purchases and debts are suspect, the court may bar them from being included in the bankruptcy proceedings. Therefore, you should be very careful when it comes to taking on new debt, and if you must, retain all documents that can be used to show the debt was necessary and reasonable.
Contact an attorney, like Charles J Schneider PC, for more help.Share