Filing for bankruptcy is a serious decision that should be considered throughly. It is important that you understand everything involved in filing bankruptcy. Use the tips in this article to guide you in the right direction. Research can surely help you even though you have tough decisions coming your way.
Do not try to get clever by paying your taxes via credit card before you declare bankruptcy in an effort to dodge your tax burden. In some places the debt can not be discharged, and you may still need to pay the IRS afterward. Should the tax be dischargeable, the debt is often dischargeable as well. There isn't any reason to use a credit card to pay the tax bill since the bill can be discharged anyway.
Exhaust every other option before making the decision to file for personal bankruptcy. You have other choices, including consumer credit counseling. Be sure to consider all options before filing for personal bankruptcy, as this will take a large toll on your credit score for the next ten years.
Avoid paying for a consultation with the bankruptcy attorney, but do ask many questions. Free consultations are standard practice among bankruptcy lawyers, so interview multiple candidates before making a final decision. Make a decision when all your concerns and questions have been addressed well by one lawyer in particular. You don't need to decide what to do right away. You have lots of time for consulting with other lawyers.
If bankruptcy is an option for you, secure the services of an attorney. With all the ins and outs of bankruptcies, it can be hard to grasp all the knowledge. A qualified bankruptcy attorney will guide you through the steps and help you do everything properly.
Meet with a few attorneys who offer free consultations before hiring one. Always ensure that the person you meet with is a real lawyer, not a legal assistant or paralegal. These people can't give legal advice. Taking the time to compare lawyers will ensure that you get a person that you can be yourself around.
Consider if Chapter 13 bankruptcy is an option. With a consistent income source and less than $250k in debt, try filing for Chapter 13. The benefit of this plan is that you retain personal belongings and private real estate and your debts are repaid by an organized payment plan. It usually takes three to five years to fulfill this plan. When the time is up, you're unsecured debts will be discharged. Remember, though, that if you fail to make even one payment, the case will be thrown out and you'll be right back where you started.
As you've seen from this article, there is more than one way to go about filing for personal bankruptcy. Do not let this information overwhelm you! Think about the tips included above. That way, you stand a better chance of making a wise decision.
Do not try to get clever by paying your taxes via credit card before you declare bankruptcy in an effort to dodge your tax burden. In some places the debt can not be discharged, and you may still need to pay the IRS afterward. Should the tax be dischargeable, the debt is often dischargeable as well. There isn't any reason to use a credit card to pay the tax bill since the bill can be discharged anyway.
Exhaust every other option before making the decision to file for personal bankruptcy. You have other choices, including consumer credit counseling. Be sure to consider all options before filing for personal bankruptcy, as this will take a large toll on your credit score for the next ten years.
Avoid paying for a consultation with the bankruptcy attorney, but do ask many questions. Free consultations are standard practice among bankruptcy lawyers, so interview multiple candidates before making a final decision. Make a decision when all your concerns and questions have been addressed well by one lawyer in particular. You don't need to decide what to do right away. You have lots of time for consulting with other lawyers.
If bankruptcy is an option for you, secure the services of an attorney. With all the ins and outs of bankruptcies, it can be hard to grasp all the knowledge. A qualified bankruptcy attorney will guide you through the steps and help you do everything properly.
Meet with a few attorneys who offer free consultations before hiring one. Always ensure that the person you meet with is a real lawyer, not a legal assistant or paralegal. These people can't give legal advice. Taking the time to compare lawyers will ensure that you get a person that you can be yourself around.
Consider if Chapter 13 bankruptcy is an option. With a consistent income source and less than $250k in debt, try filing for Chapter 13. The benefit of this plan is that you retain personal belongings and private real estate and your debts are repaid by an organized payment plan. It usually takes three to five years to fulfill this plan. When the time is up, you're unsecured debts will be discharged. Remember, though, that if you fail to make even one payment, the case will be thrown out and you'll be right back where you started.
As you've seen from this article, there is more than one way to go about filing for personal bankruptcy. Do not let this information overwhelm you! Think about the tips included above. That way, you stand a better chance of making a wise decision.
