Thursday, October 27, 2016
Three Tips For A Successful Bankruptcy Case
Taking advantage of the protections bankruptcy has to offer can really help you improve your financial condition. But the rules are complex, and in order to have a successful case you have to be willing to put in a little bit of work. The payoff is worth the work, especially if you are not able to pay all of your bills each month and need a little breathing room. The first step is to gather your debts and income, and sit down with a knowledgeable bankruptcy and debt management attorney to review your options. Once you have decided that bankruptcy is the answer you need, doing a few simple things will help ensure you get the results you need.
Three tips for having a successful bankruptcy case include:
● Give all of the information you have to your attorney, even if you think it is insignificant. In order to make sure your case is complete and accurate, you have to tell your attorney everything there is to know about your financial condition. If you accidentally leave off some information, don’t worry, you can ask for the opportunity to add it later. But intentionally omitting data is not permitted, so it is best to let your attorney know all there is to know.
● Complete your debtor education courses as soon as possible. You are required to complete one course prior to filing, and one prior to obtaining a discharge of your debt. If you have the time, do the second course very soon after your case is filed. With this requirement out of the way, you can rest easy knowing you don’t have a deadline looming.
● Make a plan to avoid future financial distress. It does not do as much good as it could to discharge debt only to have it accumulate again. Once you have eliminated certain debts, sit down and make a plan to stick to a reasonable budget.
It might seem like a lot to do in order to get out of financial trouble, but the alternative is to avoid collectors or have collection lawsuits filed against you. While it may not be much fun to buckle down and make a financial plan, it is a lot less enjoyable to constantly be under financial pressure. If you want more information about how bankruptcy can help you, call our office today.
For more information about bankruptcy, contact us at www.law-ri.com. We will help by coming up with solutions that work for you and have multiple locations to meet your needs for office visits.