1. Important Information To Know Before Filing Bankruptcy
If you were hit by a bus and racked up hundreds of thousands in medical bills, you're
probably not at high risk for filing again, but if you recklessly maxed out your credit cards, you
might want to rethink your habits. You should think about getting counseling or letting your
family help you manage your money.
Be sure everything is clear to you about personal bankruptcy via looking at websites on the
subject. The United States Department of Justice and American Bankruptcy Institute are two
such places to look. The more you know, the better prepared you will be to make the best
decisions and ensure that your bankruptcy goes smoothly.
Although it may be difficult to get financing after filing for bankruptcy, it will not be impossible
by any means. In some cases, this might be true, but in others, your credit score may
actually end up higher post-bankruptcy than it was pre-bankruptcy. It is important that you
make timely payments once you have filed, in order to increase your credit score.
You may end up losing more than you bargained for when you file a bankruptcy claim, so be
sure that you know just which assets may be taken before filing. There are several assets
which are exempt from bankruptcy; therefore, consult the Bankruptcy code. Make sure that
you review this list before you decide to file, to see if you can hang on to your most important
possessions. You may find yourself unpleasantly surprised when the things you value the
most are taken from you without warning. This is why it is very important the familiarize
yourself with this list.
It is important to send in your bill payments before their due date and to send a little extra
when you can. Avoid charging up your credit card and do not purchase items you cannot
afford.
If your lawyer doesn't have sufficient experience with bankruptcies, you could be wasting
your time. Do not feel pressured to hire the first lawyer to speak to regarding your
bankruptcy. While it may be tempting to hire the most inexpensive one, you will want to first
make sure that they have experience with filing for bankruptcy.
If you will be owing taxes, do not think bankruptcy is an easy escape. Some people who file
pay their taxes with credit cards, then immediately file for bankruptcy on those cards. They
do that because they think they can get out of paying taxes because the amount is on their
credit card. However, this is already expressly forbidden in bankruptcy law, and you will be
stuck with the taxes and the interest that is accruing on the credit card.
Stay on top of what your attorney is doing during your personal bankruptcy. Don't be shy
about asking questions and staying on top of your case. Law firms are busy, and an
overworked lawyer or paralegal might make an error on your paperwork. Contrary to popular

2. belief, attorneys are just human too.
Filing for bankruptcy does not have to mean you are financially limited in the future. Saving
your money goes a long way to show your lenders concrete proof that you are serious about
reestablishing your credit. Manage your finances more efficiently and file for bankruptcy if
you absolutely need to get out of your current situation. Once you can show that yo are
responsible, lenders will view you more favorably.
Solid Advice On Filing For Personal Bankruptcy