Cleaning Up My Finances

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Cleaning Up My Finances

About six months ago, I could tell that I needed help. It seemed like no matter how hard I tried, I couldn't get my finances in order. I was spending way more than I earned each and every month, and it was absolutely devastating to my pocketbook. One day, I realized that all of my credit cards were maxed out, and that I was past due on my rent. I knew that I was going to get kicked out of my apartment for not paying, and so I started exploring the possibility of borrowing money from a lender. Long story short, my credit was in terrible condition, and I ended up declaring bankruptcy to make things right. Check out this blog to learn more about cleaning up your finances.

Can Anyone File For Bankruptcy?

Yes, you can file for bankruptcy, but there is more to it than just filing a bankruptcy petition. It is a difficult process that will have long-term financial implications. Therefore, consider talking to a bankruptcy attorney before you file for bankruptcy. 

Here is why you need to consult a bankruptcy attorney.

It's Cheaper 

Consulting a bankruptcy attorney isn't free, as you will need to pay a retainer and an hourly fee. This is a cost that many prefer to avoid when going through financial difficulties. However, working with an experienced bankruptcy attorney means you get an easier and faster route. 

If you file for bankruptcy yourself, almost everything you do will be part of your learning process. You will spend hours researching and trying to fine-tune your petition. During this learning process, you will make mistakes that may affect your case. Some of these mistakes can be so severe that they can lead to dismissal. 

Alternatively, you can hire an experienced bankruptcy attorney who will handle your case diligently and ensure the best outcome. 

Attorneys Are Knowledgeable 

What do you know about filing for bankruptcy? Probably not much other than what you have read online or heard from friends. It is not enough compared to a bankruptcy attorney who has practiced for years or even decades. 

Filing for bankruptcy isn't as easy as telling the courts that you are bankrupt. You have to file tons of documents within a stipulated period. If you miss any, your case could be dismissed. 

No Harassment 

Debt can be stressful, especially when dealing with creditors. They want their payments and will do anything to get them back. You will get phone calls, demanding emails, and business or home visits. 

It is the nature of doing business, and it can become problematic very fast. Your mental health will suffer because you don't have the funds, and your creditors won't let you rest. Fortunately, working with a bankruptcy attorney means you don't have to contact or deal with your creditors directly. Your attorney can handle your creditors and update them on your situation. 

No Bankruptcy Fraud 

Filing for bankruptcy isn't the easy way out when you intend to avoid paying debts. Don't think that all your debts will magically disappear once you file for bankruptcy. Hiring a bankruptcy attorney means that you will have to declare all your assets. If you opt to hide some assets and the court finds out, which they will, you could serve time or face severe penalties.