Personal Bankruptcy
Be certain that you can differentiate between Chapter 7 and Chapter 13 bankruptcy. Chapter 7 is the best option to erase your debts for good. All of your financial ties to the people you owe money to will disappear. On the other hand, filing for bankruptcy under Chapter 13 means you will have 60 months to pay your debts back. Both options have advantages and drawbacks, so do your research before deciding.
You should never pay for your first consultation with a bankruptcy attorney. Make the most of this free consultation by asking lots of questions. Since most attorneys offer free consultations, meet with a few attorneys before deciding who to hire. Choose an attorney who is experienced, educated and well-versed in bankruptcy laws. It is not necessary to come to a decision immediately following the meeting. You have lots of time for consulting with other lawyers.
If you?re thinking of getting divorced, evaluate the financial consequences of doing so. Divorcing will only complicate your financial situation. You may find that both you and your spouse must file for bankruptcy following divorce. It is always wise to think twice about divorcing.
In the event your bankruptcy case gets dismissed due to your own error, it is possible to re-file. Generally though, there is only a window of 30 days after the first filing to refile after dismissal has occurred. You can avoid these errors by verifying all your information before it is submitted to the court.
Make sure the paperwork you file is accurate. Even attorneys make mistakes, so you better stay on top of it. Some attorneys may be overloaded, so they may omit or misremember details, which can lead to inaccuracies. That is why you must stay on top of every piece of your paperwork, and make sure it is done correctly.
Do not think of filing for personal bankruptcy as a shameful thing. Going through bankruptcy can cause you to lose a lot of self-esteem. Try not to give in to these feelings, as they are of no help to you and they can affect your emotional health. If you are filing for bankruptcy and you are thinking negatively about the situation, make an effort to stop that now.
After reading this article, you now know that there are many options available and possibilities to consider when filing for bankruptcy. Don?t let the situation overwhelm you. Look at bankruptcy as a way to begin again.
Source: http://www.uccirsoc.com/understanding-what-a-personal-bankruptcy-means-for-you/
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