When you file for bankruptcy, you are taking the first step toward financial change. This is a big deal because you are admitting that you have some negative financial aspects in your life that you need to change. This is empowering. The good news here is that when you file for bankruptcy, you can take the steps you need to learn how to make good choices about your money.
We know that this is a big step for you to take. You might feel so weighed down by debt that it is all you can focus on. This isn't ever a good place to be. You need to be able to enjoy your life and worrying about money can make that impossible. As soon as the bankruptcy is filed creditors must stop contacting you. Many clients find that filing relieves a great deal of stress.
There are several things that you need to think about when you are planning to file for bankruptcy. First, you have to shore up your resolve. It isn't going to be easy as you make the changes that you will have make during this process. There will be times that you wonder if this is even worth it, but once you realize that you have financial freedom and can turn your money situation around, it will all be worth it.
One of the most important things you will have to figure out when you know bankruptcy is the answer is what chapter you need to file. One, Chapter 13, requires you to make payments to the trustee. The other main form of consumer bankruptcy, Chapter 7, liquidates your assets but you won't make repayments.
An attorney can help you determine which chapter is best for your situation. By filing bankruptcy, you can finally get your feet on solid financial ground again.