There is a deep despair that creeps into a person's life when they can not meet their financial obligations. Do not let the feelings of failure, anger, or hopelessness take hold of you. Oftentimes, unexpected twists and turns in life happen. Events that you simply could not have planned for may be unaffordable, even if you had an emergency fund, especially if the emergencies all happen all at once.
When you come to the realization that you simply can not keep up, there is hope. Bankruptcy offers relief for people just like you. Bankruptcy Attorneys can walk you through the process and make sure you do not have to end any more stress than needed.
You may know what course of action to take, but taking the first step is the hardest part. Every person has a unique situation, so meeting with a Bankruptcy Attorney can help you work through the process. They will conduct the means test, and that will help you know which chapter of bankruptcy to file. From that point, you can make a plan and talk through all the steps so that you will be comfortable with the process.
You will need to complete some worksheets and gather your documentation, such as tax returns, pay stubs, bank statements, current bills, and loan paperwork, all going back six months. You'll also need to show what your current expenses and debts are, as well and what income and assets you have. The court trustee will need to see these documents to get an idea of why you need the relief of bankruptcy.
Another task you'll need to complete is an online credit counseling course.This is a required course that is easy, affordable, and will hopefully be a good educational tool to help you rebuild your finances.
When you have finished gathering your documentation and have a course completion certificate, you will be ready to file. When you file, you'll receive your case number and your automatic stay goes into effect. The automatic stay allows you to give your creditors your case number and my information, and they will no longer call you. The relief of filing for bankruptcy will have started, and now you can focus on rebuilding your life and future.
In the Home Stretch
Bankruptcy does take some time, and although it will not be finished at this point, most of the work will be done. Just a few more simple steps and you will be able to relax as your Chapter 7 discharges all your debt or your Chapter 13 repayment plan will be structured with affordable payments. No one can stand under the weight of debt forever. When you simply run out of resources and the ability to pay, a Bankruptcy Attorney can take that weight off your shoulders and provide relief for you.