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Advice On How To File For Bankruptcy

When people ask me how to file for bankruptcy the first thing I always tell them is to avoid bankruptcy at all costs. To many people bankruptcy seems like such an easy way out but that is a very short term view of the process. Bankruptcy my relieve some of the debt you are trying to deal with but there is a tremendous cost for it in your future that can haunt you for many years to come. Do whatever you can to avoid bankruptcy. Get a second job. Get a third job. Do whatever you can but avoid bankruptcy at all costs. But if you honestly cannot stop spending on credit and have gotten yourself way in over your head then you will probably need to know how to file for bankruptcy.

Before you get to a lawyer start listing out everything you own and when I say everything I mean everything. Make a comprehensive list of all of your possessions including make, model, serial number, and if you have the original receipt then all the better. Learning how to file for bankruptcy is learning how to keep meticulous records and after you learn how to file for bankruptcy you will never lose so much as a fast food receipt ever again. Also get together all of your major bills of sale like your home and your cars. You will lose your home and your newer cars and anything else you have of value so get ready for that.

Lawyers And What Not To Do

After you have compiled your list then get yourself a lawyer. You want to compile the list first because the lawyer is going to need that and you might as well get it done before you see the lawyer. Talk to your lawyer about options and ask them how to file for bankruptcy in terms of the forms you will need to fill out and the procedures you will need to follow. Once you get your bankruptcy through the court you will be monitored by the court so get ready for that as well.

One of the biggest pieces of advice I give when people ask how to file for bankruptcy is do not hide anything from the courts. If you have expensive cars that you think you can sell to a friend cheap and get to keep them you will get caught. The biggest thing to remember in how to file for bankruptcy is that the more up front you are with the court the more they will work with you. If you hide anything from the bankruptcy court you will regret it.