Five Tips for Those Considering Bankruptcy

Bankruptcy may sound like the easiest way out of a financial mess. However, that isn’t always the case. Anyone considering filing for bankruptcy should seek legal counsel.

The following are five tips for anyone who is considering filing for bankruptcy: 

• analyze your financial situation to determine what caused the problems and what your total debts and income are;
• pull your credit report and compile a list of whom you owe money;
• seek credit counseling before you file;
• know the law — you will be required to inform all of your collectors about your decision to file for bankruptcy; and
• hire an attorney.

If you are dealing with debt collectors constantly calling your home, if your wages are being garnished, or most of your debts are unsecured loans, then bankruptcy may be the best option. Filing for bankruptcy is an important financial decision that shouldn’t be made lightly.

Contacting a Richardson, Texas Bankruptcy Lawyer

Bankruptcy laws are very complicated, so you should consult an attorney at Warren & Migliaccio for help. Call our law firm today at 1-888-584-9614 to learn if you are a good candidate for filing for bankruptcy. Don’t forget to order our FREE bankruptcy guide.