Well, the time has finally come. You’re so far in debt, and you’ve been trying to pay creditors, but you just can’t seem to get anywhere (and if you’re not convinced yet, read this). In fact, it seems as though you’re falling further behind and struggling even more. What you need is some debt relief! In reality, there are only two (maybe a long shot 3rd – forgiveness by your creditor) ways to get relief from particular debts. First, you die (sometimes the most painful, and rarely the most pleasing), and second, bankruptcy.
Quite simply, bankruptcy is the least painful, and least depressing way to handle your debts. What’s more, with bankruptcy, you can get the benefits of death (ie: never having to hear from your creditors again) minus the disadvantage (ie: cramped quarters).
However, before you’re off to debt-free bliss, there are some considerations you must make. A good bankruptcy attorney will be able to direct you on the considerations, but here are a few (you might also check out this post for some information):
- Are you filing bankruptcy as a business or a person?
- What "chapter" will you file?
- Have you taken, or will you take, a debt counseling course?
- Have you made any payments to creditors within the previous 90 days?
- Have you given any property to a friend or relative in anticipation of filing bankruptcy?
- What stuff do you want to keep or get rid of, if you’re forced to choose?
- Who are you going to hire? (Here’s a great post and another, if you’re considering "going it alone")
- Do you have all of your documents (tax, paychecks, list of creditors)?
The basic thing is that you get yourself prepared to get the information to your attorney. Gather everything together and get prepared to relieve some stress. Finally, here’s a great article about what to expect when you’re getting ready for bankruptcy.
Absolute Legal Services, LLC is a debt relief agency. This firm helps people file for bankruptcy relief under the Bankruptcy Code. The bankruptcy services or benefits of bankruptcy provided by the firm are with respect to bankruptcy relief under Title 11 of The United States Code. [Title 11, U.S.C.A. Section 528(a)(3) and (4).]
