Are You Looking To Avoid Bankruptcy? Try These Tips!
- by siteadmin
If you are considering filing for bankruptcy, your life probably hasn’t been so great recently, but that doesn’t mean things can’t improve once you file. Bankruptcy exists in order to provide you with a fresh start. Read on for how to make the bankruptcy process a rebirth instead of a financial Armageddon.
If you are considering paying your taxes with credit cards and turning around and filing bankruptcy–they are on to you. The fact is that the credit card debt will be ineligible for discharge, and your tax debt may increase. A common rule is that dischargeable tax means dischargeable debt. So, there is no reason to use your credit card if it will be discharged in bankruptcy.
Make sure you keep reminding your attorney about any important details in your case. Many times a lawyer may forget a key detail; therefore, it is important to remind your lawyer of any key information. Don’t fear speaking up since it affects your case and future.
Do some research to find out which assets you could lose by filing for personal bankruptcy. The federal statutes covering bankruptcy can tell you exactly which assets are exempt from forfeiture to pay off creditors. It is important to be aware of this list so you will know what assets are saved. Without reading the list, you may be shocked at which possessions can be taken from you.
Avoid paying for a consultation with the bankruptcy attorney, but do ask many questions. Most lawyers offer free consultations, so talk to a few before making your decision. Only choose an attorney once all your concerns are answered to your satisfaction. There is no need to feel rushed to decide to file after you talk with your bankruptcy lawyer. This will give you extra time to interview several attorneys.
As stated earlier, anything that leads someone to bankruptcy is not a good story. That said, filing for bankruptcy can be a positive turning point in your life. Try using the tips in this article so you can make bankruptcy into the most positive experience possible.
If you are considering filing for bankruptcy, your life probably hasn’t been so great recently, but that doesn’t mean things can’t improve once you file. Bankruptcy exists in order to provide you with a fresh start. Read on for how to make the bankruptcy process a rebirth instead of a financial Armageddon. If you are…
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