Take A Deep Breath
There is no reason to worry. There is a solution to most financial difficulties. Contact a local attorney with a good reputation and let him/her review your situation. Most of the bad stories people have heard about bankruptcy are simply not true.
Find A Good Attorney
Bankruptcy law can be very challenging and fraught with potential issues that may impact your case and your assets. Moreover, bankruptcy law is constantly changing with recent case decisions and procedural amendments. It is always sound advice to choose an experienced and skilled consumer bankruptcy attorney to guide you safely through a personal bankruptcy. Just as important, you need to find an attorney that you feel comfortable with and trust. After all, bankruptcy cases can last up to five years.
Preparation & Organization
Set aside a little time to make a list of your debts, including mortgage statements, auto loans, credit cards, medical bills, etc. Do not worry if you can’t remember/locate every outstanding debt. Your attorney should have a method to find any missing debts. If you are organized prior to meeting with your attorney, the filing process should go faster and more efficient.
Be honest and forthright when answering questions from your attorney and staff. The attorney represents you and will let you know what is and is not necessary to disclose. Do not be afraid to ask questions. There is an attorney-client privilege in place for a reason.
If your attorney or a paralegal calls or emails, respond as quickly as possible. They are most likely looking for important and essential information for your case. Show up to your appointments on time and get your attorney and his staff any requested information in a timely manner.
Hold Your Head High
The vast majority of people who file for bankruptcy protection are having hardships such as wage decrease, job loss, divorce, and illness, just to name a few. Bad things happen to good people. Unfortunately, bills keep coming and most creditors are unwilling to work with their customers. Bankruptcy laws are in place for a reason—to give the honest debtor a fresh start. There is no reason to feel bad or embarrassed. I tell my clients they should feel relief and embrace their fresh start!