If you’re facing bankruptcy, you’ll want to try and focus on the challenges that are ahead of you and take existing measures to deal with those issues. Bankruptcy is not necessarily the correct or best solution for everyone nor will it necessarily help everyone who files for it.
The American Bankruptcy Institute suggests that bankruptcy may be a solution if you’ve had your bank account frozen or your wages garnished following a judgment, if most of your debt are in loans like credit cards or medical bills, or if you have debt collection agencies trying to contact you at home or during your work hours.
Take some time to meticulously go over your existing finances. See what your expenditures are, what you’re making in terms of income, and your total debt. This can help you determine where things went wrong and how you can go about avoiding such a scenario in the future. Also, be sure to request a copy of your credit report so you can figure out all of your creditors you owe money to. This step is important so that when you do file for bankruptcy you won’t overlook a creditor and end up potentially still owing thousands.
Research a knowledgeable bankruptcy attorney. Bankruptcy law can be incredibly complex and attempting to file on your own comes with many risks that you don’t need when you’re dealing with an already delicate situation. Ask as many questions as you need to whether bankruptcy is indeed the best option and what alternatives may be available. If bankruptcy is, in fact, the best option, make sure to ask about the costs involved and the benefits.
For any questions you may have about your bankruptcy options, contact a Fort Lauderdale bankruptcy attorney at Bigge & Rodriguez, PA by giving us a call at 954-400-7322. Our frequently asked bankruptcy questions can also answer many of your questions.