Although it isn’t the preferred debt solution most people want, bankruptcy does help many people throughout Pennsylvania every single year. If you’re overwhelmed in debt and other solutions have failed to provide results, it might be time to talk to a lawyer and learn hot to file for bankruptcy in pa.
There are a couple of types of bankruptcy you can declare to help get you out of debt, avoid repossession and home foreclosure, and get back on the right road to financial success. Chapter 7 and Chapter 13 are the two most commonly used types of bankruptcy. Each has pros and cons that you should consider before filing.
If you plan to file for bankruptcy, make sure to keep the dos and the don’ts listed below in mind to ensure a smooth process.
Do: Hire a Lawyer
Don’t assume that bankruptcy is a matter that you can handle solo. You almost always need a lawyer there to help with the often complex bankruptcy process. Avoid complications and hire this excerpt from the start.
Don’t: Hide Information
Don’t hide any financial information from your lawyer. It is important that all of your debts are laid out on the line for the judge -in the correct amounts of money that you owe. You should provide all sources of income as well.
Do: Obtain Credit Counseling
It’s not optional. Everyone who wishes to declare bankruptcy can do so only after completing a credit counseling course that helps them learn how to better manage their debts and avoid future financial trouble. It is your responsibility to find and cover the expense of this counseling and must provide the courts with a certificate of completion.
Don’t: Assume bankruptcy is the End of the World
We all endure difficulties in our life. This happens to be one that you’ll experience. It happens to the best of us and then we overcome it. Don’t assume that bankruptcy is the end of the world and let debt overwhelm you. It is a great way to get path of the right financial path!