Where To StartStep #1 is to use our free bankruptcy evaluation below to get more information about bankruptcy.
Available OptionsAs with anything, the sooner you act, the more options you will have. Start on our free evaluation below.
Rebuild Your CreditAfter bankruptcy, your bills will be lower, but it's crucial to rebuild your credit ASAP. We'll help you there too!
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How To File For Bankruptcy
When filing for bankruptcy, it's important to understand what you are doing. Just by being on this site, it shows you are doing your homework, which is always the first step. Filing for bankruptcy can be very hard for someone to accept, especially if you've been responsible and tried to keep good credit your whole life. But mistakes can be made and there are many circumstances that are out of your control. For these situations, bankruptcy may be your only option. It's better to accept this fact, than try to fight it and dig yourself a bigger hole. The longer you put it off, the longer it will take to recover and get on with your life.
This evaluation is 100% free and there is no obligation, so if you want to speak with a local bankruptcy attorney immediately, simply use the form on the left of this page.
Bankruptcy has been around since the biblical times and is currently practiced worldwide, so don't think for a second that bankruptcy is shameful or discouraged. If you decide to file for bankruptcy, there will be a good and legitimate reason and our government and society have allowances to give you this fresh start.
Before filing for bankruptcy, you'll want to make sure there are no other options. With the new bankruptcy laws, you'll be required to complete a credit counseling briefing. This will discuss other options, such as negotiating other repayment options, or debt settlement. You may also consider options such as a consolidation loan if you own your home and have equity.
Once you have decided that bankruptcy is your best option, you'll need to find a bankruptcy lawyer. We recommend working with a smaller firm, where you can actually speak with the attorney who will be representing you. You should first meet face to face for a free bankruptcy consultation. Filing for bankruptcy on your own, without an attorney is possible, but it's not recommended. Even if you do want to go about this on your own, we still recommend getting your free bankruptcy consultation.
Once you've decided to hire an attorney to help you file for bankruptcy, there will be an automatic stay, which means all your debts and the collection efforts will be “placed on hold”.
You can refer all your creditors to your attorney and you no longer have to take the harassing phone calls or letters.
"If your creditors do continue to contact you, you may have the ability to sue them for punitive damages" During the bankruptcy process, there will be a meeting of creditors, where your attorney will verify the statements and answers you gave on your bankruptcy petition. This is also called a 341 meeting, as it is named in the bankruptcy code. Prior to this meeting, you need to review the petition and make sure you have listed all qualifying debt. Your creditors will then have time to dispute whether these debts should be discharged in a chapter 7 bankruptcy. Once this time is up, for a chapter 7, the assets are liquidated and the (allowed) debt is eliminated. For a chapter 13, the repayment plan is established and you will begin making payment to the trustee.
Before the bankruptcy is discharged, you'll be required to attend a financial responsibility class. This will help you with any financial management problems you may have had leading up to the bankruptcy.
Filing for bankruptcy doesn't have to be scary, just make sure it's your best option before moving forward.
Chapter 7 Bankruptcy
Chapter 13 Bankruptcy
Learn about everything you need to know about the Bankruptcy Courts here!
