Facing up to financial hardship

The last few years have been tough years for all however, they have dealt bad hands to a lot of people who have lost the source of income and find themselves in a never-ending spiral of debt. There is a way out and to find it all you have to do is work with a bankruptcy attorney in Burleson.

Declaring bankruptcy is a big move, and of course, the long term ramifications must be thought through in their entirety, but if it is the last resort, the law gives you the opportunity to restart your life.

Things have changed:

Prior to 2005, it was reasonably easy to declare bankruptcy, basically all you had to do declare to the court that you were broke and can’t pay your bills. That was pretty much the way was then. Now, you must go through a process of counseling before you can declare bankruptcy, if your income is above a certain level, you may still have to repay your debts so bankruptcy is no longer simple.

Get legal help right from the early stages:

The declaration of bankruptcy is complicated from both a legal point of view and a financial point of view. When you are looking to hire a bankruptcy attorney in Burleson, do not fall for the quick-fix plans or the plans that guarantee to erase your debt forever. These plans are traps and may end up costing you far more in money, credibility and reputation. Stay with law firms that are well respected.

Although the attorney is mandatory, so is a shoulder to cry on. This is a very stressful time and being able to confide in a close friend can help.

Time to get real about your financial situation:

Once you have made the decision to declare bankruptcy, and you have hired a respected bankruptcy attorney in Burleson, you now have to face some hard facts. You must make a complete inventory of all your assets and all your liabilities. This includes your car, house, stocks and your total credit card debt, child support, student loans or any other debt you have. Although you must expose all debt, not all of it will be eliminated; child support, student loans and taxes due are not eligible for relief.

The moment the filing has been made by your lawyer all the bill collectors must cease and desist with any collection activities, and any garnishments in effect are nullified. This alone is one of the big benefits of declaring bankruptcy; you will have some peace of mind so you can focus on the future.

Whatever you do, don’t attempt to hide any money and don’t run up any more debts. If you work closely with your bankruptcy attorney in Burleson, the whole thing will be wrapped up within a couple of months, and although you may not have much, the one good thing you don’t have is debt.

If your debt load has finally gotten out of control, you will need a bankruptcy attorney in Burleson. The lawyers at The Rogers Law Firm, P.C. can help you with chapters 7, 11 and 13 proceedings.

 

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