Beware of These Common Mistakes Should You File For Bankruptcy
You will indeed be amazed to find out that more than 1.5 million Americans file for bankruptcy every year. Recent statistics corroborate these facts that make almost 13% of the population declaring themselves to be broke and in dire need of financial assistance.
The instances are not limited to the poor working man on the street. The celebrities have it equally tough and file for bankruptcy on the regular.
While understanding why people file bankruptcy is imperative before taking the same road, it also helps to remain aware of the problems that may crop up. Do not make haste, therefore.
Wait a while and assess your situation carefully before you initiate the process. It would certainly help to contact a legal professional for understanding bankruptcy and the related nuances instead of inviting trouble.
Remember that the courts will go through your records with a fine-toothed comb in order to ensure that you are a candidate who happens to fit the bill. The financial records going back to a year are usually assessed while giving the go-ahead for bankruptcy. Yet the professional is within his rights to look at specific records that go further back in time if he feels the need to do so.
Here are some pointers to help you. Make sure to read through them and beware of committing the mistakes
The collection case is likely to proceed at its own pace until and unless you file for bankruptcy successfully.
Timing is all important once you decide to declare yourself bankrupt. Make sure to stop all kinds of financial activities for weeks or months as applicable in accordance with the bankruptcy regulations, however.
Get the Help You Need Today
Your attorney will definitely be able to guide you properly at every stage, but you must be completely truthful and lay down all your cards in front of the bankruptcy attorney in order to get the best advice. Cibik & Cataldo P.C. has provided debt-relief services for 35 years to clients throughout Pennsylvania.
Our team specializes in chapter 7 and chapter 13 bankruptcy and will carefully examine your financial situation, provide you with the facts,and advise you on how to proceed. Please contact us at 215-735-1060 for a free consultation.
We are a debt relief agency that helps people
seek bankruptcy protection under federal law