Bankruptcy can be avoided. You need to live within your means. Do not overspend. Unfortunately, some people overlooked their finances causing them to take up loan after loan. In the end, they need to file bankruptcy. But before you do so, here are some consequences of filing bankruptcy as provided by our bankruptcy attorney
It is not an ordeal. It is like undergoing divorce or losing your loved one. And when you declare bankruptcy, it becomes public domain. It means that your personal information will show up in court records. That said, the public can access it. Banks, potential clients, and employers can view the information of your bankruptcy details. Apart from that, filing can be expensive. The fees can start at $300. It can go up, depending on the type of bankruptcy you have filed for. Moreover, it will be tough to buy a home in the future. It can take up to four years before your mortgage loan will be approved. Because of these difficulties, it is best to heed these things before taking any action.
Talk to Gomez and Simone Law
Our bankruptcy attorneys in Glendale, California are ready to assist you in proving your options. We know the emotional toll that this filing can bring. That’s why we recommend getting professional help first. Should you decide to file, make sure to work with our professional team to help you walk through the process. Our team will guide you from step one through the final step.
Organize the Paperwork
You must know all your debts. That is, from mortgage to your student loans. Then, make sure to verify the amounts for every debt that you have. These details are vital when consulting our bankruptcy attorney.
Pay Off Your Debt
Even if you have decided to file for bankruptcy, you must still try your best in paying off your debt. You must look at your budget or talk to your creditors. Your creditors might help in lowering your interest rates. They may even give you better terms. Our bankruptcy attorney also recommends working with a financial coach. This coach will give you an unbiased view of your financial situation. Perhaps, after working with a financial coach, you might gain some insights on how to pay off your debt without having to file for bankruptcy. Your coach will lead you in the right direction. If you have decided to file for bankruptcy, make sure to work with our bankruptcy lawyer. At Gomez and Simone law firm, we can give you all the resources you need to assist you throughout the process. We understand that it is a difficult situation. Our attorneys will be there to support your case. But we also give pieces of advice on how to avoid it. We can recommend you to some financial coaches to improve your finances after filing bankruptcy. For a consultation, contact our bankruptcy attorney in Glendale, CA at (855) 219-3333.