Posts Tagged ‘ bankruptcy lawyers ’

Is Bankruptcy The Right Choice For You? Things To Think About

August 4, 2013

TIP! You should avoid paying your taxes with credit cards and then immediately file for bankruptcy. In a lot of places, the debt cannot be discharged, and you may still owe money to the IRS.

There are many people who are now in debt levels over their heads. They are hounded by creditors and collection agencies, and their bills show no sign of slowing down. If this is happening to you, then you might want to think about personal bankruptcy. This article will help you to decide if filing for bankruptcy is the right option for you.

TIP! Ask yourself if filing for bankruptcy is the right thing to do. Consider any other options that are available to you, such as consumer credit counseling.

Although you can find many bankruptcy attorneys listed in your local Yellow Pages or online, it’s best if you can find one through the personal recommendation of a friend, family member or acquaintance. Don’t be taken in by some fly-by-night company that exists only to profit from the suffering of others. Check out any lawyer you are considering thoroughly before engaging him or her.

TIP! If you are truly faced with bankruptcy, avoid blowing your savings or retirement money, trying to pay off debts. Retirement funds should be avoided at all costs.

Be honest when filing for bankruptcy. Don’t hide liabilities or assets, as they’ll come back and haunt you. The person you choose to file with needs to know both the good and bad aspects of your finances. Don’t hold back information and create a strategy so you can deal with what’s really happening.

Bankruptcy Lawyers

TIP! Remember to only file for bankruptcy if you need to. Many times a consolidation loan will ease your financial struggles.

When you do meet with a lawyer make sure that they answer all of your questions and that they do not charge you for consultation alone. Free consultations are standard practice among bankruptcy lawyers, so interview multiple candidates before making a final decision. Therefore consult with different lawyers and get a feel for them, then decide which one suits your needs You don’t need to decide what to do right away. If you’re unsure, don’t hesitate to talk to multiple bankruptcy lawyers.

TIP! Filing for bankruptcy is not recommended when you have income more than your debts. Although bankruptcy may feel like a simple method of getting out of your large debt, it leaves a permanent mark on your credit history for up to 10 years.

If you have reached a point where you are forced to file bankruptcy, you can now understand that many resources are available to help you. If you deal with your stress in a positive way and make level-headed decisions, your bankruptcy filing will be a step in the right direction for a renewed financial future.