If you are facing mounting debt that you have no way to pay off. You may be considering filing for bankruptcy. This course of action is usually a last resort. However, if there is no way for you to pay what you owe then it is a good idea to legally file for bankruptcy. Here is what you should bear in mind if you decide that this is the right path for you.
Get A Comprehensive Credit Report
Get a thorough credit report so that you can get a clear picture of what you owe. If some of your creditors have stopped calling don't make the mistake of thinking that your debts are forgotten. This is usually not the case. If you fail to include every debt you owe on the credit report when you file for bankruptcy, you may end up only writing off some of your debt. In order to make sure that all your debts are completely written off you have to ensure that everything is accounted for when you file for bankruptcy.
Get In Touch With The People You Owe
When you owe money you are likely to hear from your creditors very often, through daily and sometimes nightly phone calls. If your creditors are harassing you with letters and phone calls let them know that you are filing for bankruptcy. In your correspondence or phone call, you should let them know the name of the attorney who will be dealing with your case and the district in which you intend to file. Once you do this, it becomes illegal for them to call you.
Credit Counseling Is A Must
In order to file for bankruptcy, you must get a credit counseling certificate to prove that you have successfully completed credit counseling with an agency that has been certified by the government. If you need to file for bankruptcy quickly then the sooner you get this done the better. On the flip side, if you have taken the counseling and are not quite ready to file, the good news is that the certificate will be valid for six months after the date of completion.
The three simple steps outlined above will make bankruptcy filing go a lot more smoothly. Filing for bankruptcy is never easy and it can often cause some embarrassment. However, when the process is successfully completed and your debts are written off, you will experience peace of mind and be able to move on with your life, debt free. To learn more, contact a law firm like Molleur Law Office