Filing for bankruptcy is a great way to end your bill problems when you do it right. If you follow all the steps you need to take then your bankruptcy case will be a rousing success, leading you to a debt-free world where you can sleep easy at night.
Unfortunately, many people don’t end up in that place because they don’t take the steps they need to ensure their own success.
Here are 4 mistakes people make when trying to file for bankruptcy – and the simple ways to remedy them:
Mistake #1 – You Don’t Call A Lawyer – I know it sounds silly, but many people who need to get out of debt try to go it alone. Either they read a book telling them how easy bankruptcy can be, don’t know how to find a lawyer to help them, or are afraid of talking with an attorney about their problems.
Solution: Call a lawyer! Go online and search for a bankruptcy lawyer in your area. Make a few phone calls and get a feel for the one who might be best suited to work with you. It is unlikely that you won’t be able to find a good attorney in your area who will meet with you for little or no cost to assess your situation and get a handle on the best way to solve your bill problems.
Mistake #2 – You Don’t Do Your Homework – It’s easy to make a decision based on a television commercial or talking head, but that doesn’t give you any real, solid, reliable information about your options and what bankruptcy will mean for your specific situation.
Solution: Do some research to save you headaches! There are a lot of reliable sources of information, both online and offline. For online resources you should start right here by reading my articles, or check out the Bankruptcy Law Network. Don’t make the mistake of jumping into any solution until you know as much as possible about it.
Mistake #3 – You’re Unprepared – Lots of people meet with a lawyer or other professional about resolving their bill problems and don’t provide any documentation or information about their income, expenses and debts. The advice you get is general at best, and usually inapplicable to your situation.
Solution: Load Up On Documents! Bills, pay stubs, tax returns, mortgage and car loan statements, utility bills… bring them all! By giving your lawyer as much information as possible you’ll maximize your chances of getting specific, reliable information to help end your bill problems.
Mistake #4 – Listening To Well-Meaning Family And Friends – Your friends and family members love and care about you. They want what’s best for you. But they don’t pay your bills each month, and they don’t have to deal with the hassle of phone calls and collection letters.
Solution: Make Up Your Own Mind! Your future is yours and yours alone. When you get full information from a variety of sources and are armed with the knowledge you need, use it to improve your future. Credit counseling, debt settlement, self-help or bankruptcy… these are all viable options for you. Pick the best one and know that you’ve made the right decision.