Tag Archives: debtors

Avoiding Bankruptcy

unemploymentFinding yourself dealing with a potential bankruptcy claim can be very disheartening. Many are now finding themselves having to deal with bankruptcy because of many different factors such as loss of jobs, business failure, or medical problems. Filing for bankruptcy is a great way to protect yourself but it is also great to avoid it at all costs.

How to Avoid Bankruptcy

Avoiding bankruptcy may not be easy but it can be done in some cases. First you will need to watch for the warning signs and make sure that if you find yourself going into a financial crisis that you do whatever you can to make sure that you are able to get yourself out of the situation. Cancelling credit cards and talking to your debtors is a great way to potentially avoid bankruptcy. Make sure that you keep all your records of any discussions you might have in your records in case you do file for bankruptcy and need those records for your attorney.

Hiring an Attorney

Bankruptcy may not be avoidable, if you find yourself unable to get in front of the financial problem make sure that you hire a quality bankruptcy lawyer. A bankruptcy lawyer will be able to help you with filing the motion and helping you to make sure that your claim whether it is chapter 7 or chapter 13 is accepted. Your attorney is there to make sure that you are well taken care of an all the laws are strictly adhered to. Your bankruptcy lawyer will ask you to provide copies of all your bills and debts and make sure that he or she has every bit of information pertaining to your finances. When searching for a quality bankruptcy lawyer make sure that he or she has experience in bankruptcy and in filing whatever chapter you will be filing for.

Trying to avoid filing for bankruptcy is not easy but if you can avoid it, it is better. However if you find yourself unable to stop the process make sure that you hire a great bankruptcy lawyer.