If you've been facing mounting debt for quite some time now, filing for bankruptcy may soon become your only way out. Unfortunately, dealing with bankruptcy can be very difficult, especially if you don't have the counsel and help of a bankruptcy attorney. Here are a few tips that will help you deal with bankruptcy.
Credit Counseling Certificate
If you're thinking about filing for bankruptcy, it is vital that you get a credit counseling certificate as soon as possible. Before you can file for bankruptcy, you must obtain a certificate affirming that you have successfully completed credit counseling. You must obtain the certificate from a government-certified counseling agency. You should start the process of obtaining this certificate promptly, as the credit counseling can take a few months. If you need to file for bankruptcy protection as soon as possible, a lack of a credit counseling certificate will likely cause many delays and problems. To file for bankruptcy successfully, don't wait until the last minute when it comes to getting this certificate.
When it comes to filing for bankruptcy protection, you should always be honest. In most cases, there is absolutely no reason to lie as the vast majority of people who file for bankruptcy protection end up qualifying. The few who don't qualify for bankruptcy protection almost always have other options to take advantage of. If you decide to file for bankruptcy protection by leaving out income or assets, the case will likely be dismissed. Also, if you are found to have lied about your assets or income, you may be barred from filling for bankruptcy on those particular debts in the future.
Don't Leave Out Cars
Believe it or not, it is necessary to include every car that you own in the paperwork. Since a car is considered an asset, it must be included in the list of your assets. Even if your car is a liability since it was secured by a loan, it is still necessary to include it. The court-appointed trustee who is in charge of reviewing your case must be aware of every single car you own. You must include every single car that is under your name, even if it is your son or daughter who drives the car. Also, don't transfer cars to other people right before filing for bankruptcy, as that is actually the best way to lose the car.
Unfortunately, filing for bankruptcy can be incredibly difficult. Fortunately, as long as you hire a bankruptcy attorney and follow the tips listed above, you will likely file for bankruptcy successfully.Share