The REAL Truth About Filing for Bankruptcy

If you are considering bankruptcy, talk to an attorney that specializes in bankruptcy before you make your next move. Bankruptcy laws are there for consumers and businesses that need a fresh start and an opportunity to reorganize their finances. It is a serious decision that you should not make on your own.
When you declare bankruptcy without a lawyer you can miss out on some key benefits of bankruptcy. Additionally, a debtor in bankruptcy case without an attorney to represent them is considered “pro se” and is taking a huge risk. About 97% of pro se bankruptcy cases wind up being dismissed, according to Legal Zoom, because of errors in the filing. Bankruptcy records San Diego court clerks report stay on file forever and are reported to the credit bureaus whether your case is successfully completed or dismissed. In other words, a bad bankruptcy filing has the same effect on your credit as one completed successfully.
An experienced attorney will check bankruptcy filings to ensure complete accuracy which can reduce the risk of negative responses from the court. Declaring bankruptcy is a complicated process. It is important that you take your time with the process and get the legal advice you need to make an informed decision.

Difference in chapter 7 and chapter 13 bankruptcy

Nobody ever wants to find himself or herself in a position where bankruptcy is the only option. Why? Because filing for bankruptcy not only destroys the debtor’s credit rating, but it makes it impossible to get a mortgage, auto loan, or any other type of loan or credit for at least a decade. Additionally, the huge black mark a bankruptcy leaves on your credit rating can even prevent you from getting new job. To top it all off, the stigma can be humiliating.

Although there is a lot of truth to the common myths about bankruptcy, filing for bankruptcy isn’t the end of the world. And despite any other bankruptcy myths you may have heard, the recovery process may not take as long as you might think. Of course, if you are considering bankruptcy you will need to get as much bankruptcy information as possible; and a top bankruptcy litigation attorney is always the best source for the most essential bankruptcy tips and advice.

When it comes to bankruptcy, the biggest fear that among folks who are considering it is the damage it might cause to their credit ratings. However, most of them should not let that influence their decision, because if their financial problems are serious enough to warrant the contemplation of filing bankruptcy, the chances are that their credit rating is already in shambles.

On the other hand, the sooner debtors get in touch with good bankruptcy law attorneys to get the bankruptcy information they need, the more quickly they can get on the road to rebuilding their credit. After all, if an individual is drowning in insurmountable debt, the longer they wait the worse the problem will get. And by choosing to sit on their problems rather than do something to clear them up, they will only be placing undue stress on themselves and their families.

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