Life happens, and it is not always pretty; companies have lay-offs, accidents leave the breadwinner unable to work, or mortgage monthly payments go up suddenly and drastically. When life's surprises are bad and hit the finances hard, there are few options for recovering; a new job, a second mortgage, help from family, but even these are not always enough. Sometimes, the only option is the worst one, something that used to be an easy process; declare bankruptcy. Declaring bankruptcy is not a simple process, nor is it a "clean slate," but it is better than constant creditor calls for money you simply do not have. With all of the steps needed to properly declare bankruptcy, hiring a Burbank bankruptcy attorney to help you is a very good idea.
Declaring bankruptcy used to be very easy; simply file for it. These days, there are a lot of steps to filing bankruptcy, some of which cost money (ironic, isn't it, charging those with no money). One of the first steps is to go to credit counseling to have a third party determine if you really can pay your bills or not. This step does cost, but it is important to do; sometimes, counseling can help you avoid the messy and difficult process of filing for bankruptcy, which can also save you the embarrassing and damaging report on your credit. Declaring bankruptcy is not just a "clean slate," it leaves a mark on your record for ten years; some organizations will keep that information forever, and it can make getting a loan or doing business in the future very difficult. If you do see a credit counselor and they determine that bankruptcy is your best option, it is time to get a lawyer.
Like anything else having to do with the law, there are lots of i's to dot and t's to cross, and if you are juggling bills you can't pay, money you don't have, and obligations you cannot fulfill, then chances are that you are not in a good frame of mind to catch all of those i's and t's, let alone dot and cross them. As ridiculous as it seems to be shelling out even more money when you do not have enough, hiring a bankruptcy lawyer to take care of all the paperwork will save you a great deal in the long run; bankruptcy always leaves its mark, but a Burbank bankruptcy attorney will help make that mark as small as possible.
Counselor Overview
Declaring bankruptcy used to be very easy; simply file for it. These days, there are a lot of steps to filing bankruptcy, some of which cost money (ironic, isn't it, charging those with no money). One of the first steps is to go to credit counseling to have a third party determine if you really can pay your bills or not. This step does cost, but it is important to do; sometimes, counseling can help you avoid the messy and difficult process of filing for bankruptcy, which can also save you the embarrassing and damaging report on your credit. Declaring bankruptcy is not just a "clean slate," it leaves a mark on your record for ten years; some organizations will keep that information forever, and it can make getting a loan or doing business in the future very difficult. If you do see a credit counselor and they determine that bankruptcy is your best option, it is time to get a lawyer.
Crossing T's
Like anything else having to do with the law, there are lots of i's to dot and t's to cross, and if you are juggling bills you can't pay, money you don't have, and obligations you cannot fulfill, then chances are that you are not in a good frame of mind to catch all of those i's and t's, let alone dot and cross them. As ridiculous as it seems to be shelling out even more money when you do not have enough, hiring a bankruptcy lawyer to take care of all the paperwork will save you a great deal in the long run; bankruptcy always leaves its mark, but a Burbank bankruptcy attorney will help make that mark as small as possible.
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