Are You Thinking About Declaring Bankruptcy?

Any California Bankruptcy Attorney will tell you that going through a bankruptcy will be a painful, trying time in your life.  If the stress and headache of going through the bankruptcy wasn’t enough, you must also go through the hassle of trying to repair your finances afterward.  Fortunately, you do not have to go through the ordeal alone, as there are many bankruptcy professionals ready and willing to help you through the process.

Decide What To File

The first thing that you will need to do when deciding to declare bankruptcy is decide whether you will be filing a chapter 7 or a chapter 13 bankruptcy.  A Chapter 7 bankruptcy is total bankruptcy that eliminates most of the debts that you have no hope of paying and stays on your credit report for 10 years.  A Chapter 13 bankruptcy is set up like a payment plan and will stay on your credit report for seven years.  Different states have different rules, so a bankruptcy San Diego filing will differ slightly from a bankruptcy Philadelphia filing.

Choose A Good Bankruptcy Attorney

A good bankruptcy attorney can help you navigate the bankruptcy process and help you avoid pitfalls that you may not be aware of.  Choose an attorney that has experience in the bankruptcy field, because there are many rules that must be followed and missing one could negate the entire process.  You should choose an attorney that is willing to listen to your concerns and that has your best interests in mind while they are helping you complete your bankruptcy.

Change Your Financial Habits

After you have gone through the entire bankruptcy process, you will need to find a way to get your finances in order so that you never have this issue again.  Too many bankruptcy filers never recover from their financial issues because they fail to learn new ways to manage their money.  Consider taking some finance classes or do research online to find some tips and tricks to make managing your finances easier.  There is no one solution that fits everyone, so you will have to find the things that work for you and implement them into your normal routines.