The economy is looking bad looking these days. The result of unemployment and falling into uncontrollable debt. Debts result in bankruptcy, an outcome nobody ever wants.
If you are in this position, start familiarizing yourself with your state laws. Different states have different laws when it comes to bankruptcy. For instance, the personal home is exempt from being touched in some states, while other states prohibit this. You should be familiar with the laws before filing for bankruptcy.
Don’t use a credit card to pay off your taxes if you’re going to file bankruptcy. In a lot of places, the debt cannot be discharged, and in the end you will be left owing the IRS a big sum of money. This means using a credit card is not necessary, since bankruptcy will discharge it.
Always be honest when it comes to your bankruptcy petition.
Don’t be afraid to remind your attorney of your case. Don’t just assume they already know and that the attorney will remember it automatically. This is your bankruptcy and your future, so do not be afraid to remind your lawyer of any key facts.
You might find it difficult to obtain an unsecured credit after filing for bankruptcy. If you find that to be the situation, you may want to think about getting a secured card or two. This will allow you to start building a good credit record back in order. If you pay your secured card off on time, you will ultimately be able to receive an unsecured card.
If a personal recommendation comes your way, get a word-of-mouth referral for a lawyer. There are a number of companies who may take advantage of your situation, so you must ascertain that your attorney can be trusted.
Don’t pay for an attorney consultation with a lawyer who practices bankruptcy law; ask him or her anything you want …