If you are facing the possibility of bankruptcy and are looking for information to help you in your decision, you will find this article very helpful.There is a lot of helpful advice on the Internet that will show you how to avoid bankruptcy. Read on to learn how to stay away from bankruptcy.
Do not even think about paying your taxes with credit cards that will be canceled when you file for bankruptcy. In most states, this debt will not be dischargeable, 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.
Retirement funds should be avoided at all other options have been exhausted. Although it is quite normal to use some of your savings, you should not use up all of it right now and jeopardize the financial security of your future.
Always be honest when it comes to your bankruptcy petition.
You might find it difficult to obtain an unsecured credit after a bankruptcy. If you do, instead you should turn your attention to secured credit cards. This will show other people that you want to improve your credit record in order. After a while, you will then be able to acquire credit cards that are unsecured.
Don’t pay for the consultation with a lawyer who practices bankruptcy law; ask him or her anything you want to know. Most attorneys offer free initial consultations, so talk to a few before making your decision. Only make a decision after you feel like your concerns and questions were answered. You don’t need to decide what to do right after this consultation. You can take as much time as you need to meet with other lawyers.
Be certain that you can differentiate between Chapter 7 and Chapter 13 bankruptcy cases. Chapter 7 involves the elimination of all …