Hello, my name is Marcy. I would like to talk to you about the various ways bankruptcy attorneys help you eliminate debt. My attorney helped me find all of the creditors that I needed to pay back. I was astounded at the number of creditors listed on the bankruptcy. Fortunately, my bankruptcy attorney assured me that my case was completely normal and possible to discharge through the court process. I hope to use this site to reassure others about their debt situation. I will share information about bankruptcy attorney services in an effort to help others tackle this difficult problem.
Statistics from the Bankruptcy Institute show that in the first quarter of 2012 alone, 355,000 consumers filed for bankruptcy. If you are struggling under the weight of your financial commitments, you might be considering bankruptcy as an option.
Prior to making a final decision and filing for bankruptcy, there are some important steps you need to take to ensure your bankruptcy case is successful. Here are three things to do before you file for bankruptcy in the future.
1. Determine if bankruptcy really is the best option for you.
Since filing for bankruptcy could affect your ability to obtain credit in the future, it's essential that you take the time to evaluate your financial situation carefully before making the decision to file. Assessing your financial health should be at the top of your priority list when considering bankruptcy.
To determine if you are in the financial danger zone, you will need to compile a list of all your debts as well as your liquid assets. If the amount you owe to creditors is greater than the sum of your assets, then filing for bankruptcy could be beneficial.
2. Hire an attorney.
Although it is possible to file a bankruptcy case without the assistance of an attorney, bankruptcy law can be quite complex. In order to ensure that you are taking every precaution necessary to protect your financial health in the future, you should consider working with an attorney who is well-versed in the bankruptcy statutes that govern your area.
As you evaluate potential bankruptcy lawyers, be sure that you are looking for an individual that specializes in bankruptcy cases. Ask what percentage of the attorney's cases are bankruptcy filings when engaging in a consultation. If a majority of the cases the attorney handles are bankruptcy related, then he or she likely has the experience needed to successfully help you through the bankruptcy process.
3. Complete pre-filing credit counseling.
Bankruptcy law requires that each consumer filing a bankruptcy case must complete credit counseling. If you are considering bankruptcy as a solution to your financial woes, then participating in a pre-filing credit counseling course can be beneficial.
Not only will you be fulfilling one of the prerequisites required to file, but you will have the assistance of a professional credit counselor when evaluating your financial situation. The credit counselor will create a payment plan that may be a feasible alternative to bankruptcy. You aren't required to follow the advice given by the credit counselor, but you must complete the course in order to be eligible to file bankruptcy.
If you are considering bankruptcy in the near future, it can be beneficial to understand some of the steps you should take prior to filing. Evaluating your financial situation, hiring an attorney that specializes in bankruptcy law, and completing a pre-filing credit counseling course can help your bankruptcy go smoothly.