When Filing Bankruptcy Is the Best Option

About Me

When Filing Bankruptcy Is the Best Option

Thanks for stopping by my website. My name is John Finley, and I’m 46 years old. A few years ago, my wife and I found ourselves in a financial bind that continued to get worse. No matter how hard we tried to catch up, it seemed that our bills got larger, and we couldn’t keep up. Some of our credit card balances got so high that we couldn’t make the minimum payments. The collection phone calls came often and caused us a great deal of stress. We talked about different ways to get out of debt, but never found one that worked. We were both in agreement that filing bankruptcy was our last option. Well, the time came where we were out of other options and contacted a bankruptcy attorney. I am going to share our experiences with you and hope you find them to be helpful.

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3 Useful Tips When Thinking About Filing For Chapter 13 Bankruptcy

If you have gotten yourself into debt, sometimes the only way to respond is to file for bankruptcy. Chapter 13 bankruptcy is ideal for those with regular income who can afford a re-payment plan. If you're considering this option, be sure to utilize these tips. 

Take Time With Paperwork

Filing Chapter 13 bankruptcy is not going to happen overnight. It is quite a long process, in fact, given all of the paperwork involved. So that you don't make any mistakes and face subsequent delays, be patient with this paperwork.

Take your time going through each document, making sure you fill out the appropriate blanks and provide accurate information. Being accurate is particularly important because you don't want to be charged with fraud later down the line. Once you're finished, go back through documents to check for potential issues like misspellings and inaccuracies.

Pay Bills on Time

Even though you're filing for Chapter 13 bankruptcy, you still need to pay all of your bills on time. This shows you're willing to make a change and are committed to paying back the money you owe gradually over time.

It may be necessary to set reminders on your phone or on the computer, letting you know days in advance when a bill is due. By not missing any payments, you can show that you're ready to create a payment plan and actually have the ability to follow through with it until you're free of debts. 

Work With an Attorney

Chances are that you have never filed for Chapter 13 bankruptcy before. It may seem pretty scary. To ease your nerves going into this process, you can work with a Chapter 13 bankruptcy attorney. They will guide you through this legal process all the way through. 

You can ask them any questions about this process to relieve some tension you may be feeling. Even more importantly, the attorney will assess your finances and put together a repayment plan that you can actually complete long-term. Having this expert assistance throughout this process will help you remain hopeful about your financial future again. Everyone deserves a second chance.

Faced with a crippling amount of debt, filing for Chapter 13 bankruptcy may be the only way to repay what has accumulated over the years. As long as you know what precautions to take from the beginning, you can walk away from this process confident about the future again. 


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