It's quite common to hit a financial snag from time to time. A few bills start to get behind and you have to work more hours to catch up. However, there are other periods when it seems like there really is no way that you're going to be able to make it out of the financial situation that you are in. That's when you begin to realize that you need a stronger solution than just picking up some extra shifts. Bankruptcy is a great way to relieve yourself of the burdens that weigh you down. If you're thinking about filing for bankruptcy, the following tips will show you how to go about doing it.
First Step: Compile All Of Your Bills
The very first thing you should do when you're in the initial stages of filing for bankruptcy is compile all of your bills. And this isn't just referring to the ones that are coming in the mail right now. You might need to reach back a few years to uncover a few bills that you've possibly forgotten about.
Your bankruptcy needs to be as comprehensive as possible. There's no reason for you to complete the filing only to find that you didn't include some of your bills under it. Doing so could mean that you're still on the hook for them, even though your bankruptcy was successful.
If you want to make sure that you have a full listing of all of your bills, you should obtain a copy of your credit report. The report will list those bills that might be in collections and that are still affecting your credit. Get the account numbers and the balances, and you should be ready to start.
Second Step: Hire A Bankruptcy Attorney
Going through a bankruptcy without the professional assistance provided by an attorney is never a good idea. Bankruptcy paperwork can be very complicated, and if you make a mistake on your filing, you run the risk of having the entire case denied.
You should also hire a bankruptcy lawyer because it stops the harassment that you might be receiving from your creditors. Once the lawyer sends out the cease and desist letters, the creditors have to direct all of their correspondence directly to the lawyer.
The relief you'll feel after your bankruptcy case is approved can't be measured. What are you waiting for? Use the advice given in this guide, and get started on the road to financial freedom.
For more information, talk to companies like David S. Riehl, Attorney At Law.