How To Find A High Quality Personal Bankruptcy Lawyer

Bankruptcy is stressful, but it can provide financial relief. On one side, you will need to handle a lot of people looking into your personal finances. Then again, after your debts have been discharged, you can begin rebuilding finances and stopping those calls from bill collectors. This article will give you some great tips to help ease the bankruptcy process.

Knowledge is power when you're considering bankrupcy; there are many websites available to help you. The United States Justice Department, the ABI (American Bankruptcy Institute), as well as the NABCA (National Assoc. Consumer Bankruptcy Attorneys) are excellent sources of information. The more you know, the better equipped you'll be to make the wise decisions needed for a successful bankruptcy.

Don't use a credit card to pay off your taxes before filing for bankruptcy. Most states do not look at this debt as chargeable, and you could end up owing money to the IRS. The rule here is that if you can get the tax discharged then you can get the debt discharged. Because of this, transferring the debt to your credit card is pointless.

Bankruptcy should not be filed by anyone who makes more than their bills cost. Although bankruptcy may feel like a simple method of getting out of your large debt, it leaves a permanent mark on your credit history for up to 10 years.

Before picking a bankruptcy lawyer, speak with more than one, since most offer a consultation for free. Ensure that your meeting is actually with the attorney, not with a paralegal or an assistant. People in these positions are unable to offer legal advice. Considering several different lawyers can help find someone to trust.

Make sure your home is safe. Filing for bankruptcy will not always result in losing your home. If your home value has gone down, or if there's a second mortgage, you might be able to keep it. You can also investigate your state's homestead exemption, an option that might enable you to keep your home if certain financial requirements are met.

Before picking a bankruptcy lawyer, speak with more than one, since most offer a consultation for free. Be certain to speak with an attorney, not their paralegal or law clerk, since they cannot give legal advice. By meeting with several attorneys through a free consultation you will be able to choose which attorney you feel more comfortable with.

As you can see, bankruptcy doesn't have to mean financial disaster for you. It may seem like a daunting task at first, but you can make it through your bankruptcy. Keep the advice here in mind so that you can work toward getting back on your feet!