Filing for bankruptcy is a tough decision for some; it can hurt one's pride to know what they have failed and are throwing in the towel, but that isn't what filing bankruptcy is at all. It's finally asking for help. You aren't giving up; it's quite the opposite, because you are doing something about your financial issue and are attempting to start again - not give up. If you are planning on filing for bankruptcy, you may also have a problem figuring out where to start. Read on for helpful tips to get you started.
1. Stop Struggling
If you are living well beyond paycheck to paycheck and struggling to pay for groceries each week in order to pay your credit card bill, stop paying that credit card bill. Your need to survive and be able to eat outweigh that credit card bill, and if you are planning on filing for bankruptcy, this debt will be included in it. Your monthly utilities are the only things you should be concerned with continuing making payments on - everything else can wait.
2. Get Your Debts In Order
While you are waiting for your bankruptcy appointment, start getting all of your debts in order. Find the bills you have and keep them organized neatly. You're going to need these when you do file, and your bankruptcy attorney is going to need these as well as the bankruptcy trustee. If you don't have some bills, you can call the creditor and get this from them directly. The attorney and trustee are going to need account numbers, debtor information (address and phone number), what the debt is for, and also how much is owed on the debt.
3. Save Your Money
Since you are skipping making some payments, save the money you aren't spending on your debts and save it to pay for your bankruptcy. This may take you a few months, and that's fine. If you are able to borrow the money from someone, do this instead so you can file before your creditors attempt to get a lien on your property or attempt to garnish your wages.
If you are having trouble paying your debts and are living beyond paycheck to paycheck, even borrowing money to survive each month, then you may want to consider filing for bankruptcy. Make an appointment today with a bankruptcy lawyer to see what options you have and to get to know more about the bankruptcy process.
