Are you thinking about filing for bankruptcy? This process can seem daunting and overwhelming in the midst of an already stressful time. Here are the basic steps in the filing process:
1) Review Your Finances & Compare Against Monthly Expenses
It is important that you know how much you owe and who you owe. Sort through all of your bills and create a list of all your creditors and how much you owe each of them. Many people avoid looking at this information because it causes more stress. Ignoring it will not make it go away. Although it may be stressful for you to face this list, it is the first step in organizing yourself. If necessary, ask a trusted friend or family member to help you compile the list. The most important thing is to make sure you have everything listed.
2) Attempt to Modify Any Outstanding Loans or Debts
Contact each of your creditors. Many of them will be likely to consider modifying your payment plans or accepting a lower payoff amount. Take the time to explain to them that you are trying to take care of your outstanding debts and that you hope to work together. Often times, the first person you get on the phone will not have the authority to accept a modified payoff or change payment terms. Don’t be afraid to ask for a supervisor. Be sure to keep good records of when you have contacted each creditor and what terms were discussed.
3) Be Aware of Any Upcoming Foreclosures or Judgments
When you are facing an upcoming foreclosure or judgments, it is important to know that you are now working against the court’s timeline. It is important to know what dates and limitations they have placed on you. If you are facing a foreclosure or judgments, it is very important to contact an attorney to assist you. They will be able to tell you the next steps you should take.
4) Hire an Attorney
If you are facing the need to file for bankruptcy, this is not a time to try to take on representing yourself. Creditors are very skilled at this process. They can and will do everything they can to make this process more challenging for you. Although the idea of spending more money on hiring an attorney may seem unreasonable at this time, it is the best first step you can take. Bankruptcy attorneys can walk you through the process and help you along the way, providing the much needed relief you are seeking.
For more information please visit: http://www.floridalawattorney.com