How to file for bankruptcy: 7 steps

filing bankruptcy, credit cardsFor any responsible person bankruptcy is a hard pill to swallow. Filing a bankruptcy is a last option, so first check if there is another option in place of filing a bankruptcy case. The effect of bankruptcy will be there for 10 years on your credit cards. There are two types of bankruptcy process, straight or liquidation bankruptcy and repayment plans for individuals. The former one needs patience so many of them consider the second option.

Then the most important element to file the case of bankruptcy is to hire a lawyer. A lawyer will help you out in many of the legal and question and answers round. While hiring a lawyer it is necessary to be clear about the fees of the lawyer.  Different lawyers have different payment modes and scales. There are many that will file your case for free or at a minimal cost. Let your lawyer speak and handle all your creditors on your behalf. Wait for your meeting with the creditors and trustee. Try to keep the trustee in confidence. Don’t use credit cards during the complete process because it may lead you to problems

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