Credit Card Defense Lawyer

Anyone who is deeply in debt and feels as though there is no way out may wonder if bankruptcy is the right call. People in significant debt may feel overwhelmed with anxiety and apprehensive for the future. Not only does a person have to fend off unrelenting collection calls, but worry about whether or not they can ever achieve the financial stability they are looking for. If you are considering filing for bankruptcy, there are important things you must be aware of first.

An attorney can meet with you and help you decide whether filing for bankruptcy is in your financial best interest. Here are just a few tips we think you should know prior to submitting your request for a bankruptcy status:

Bankruptcy Isn’t Always a Clean Slate

When clients visit our offices to talk about bankruptcy, they often express how badly they want a clean slate from debts and pestering collection calls. It is important to understand that bankruptcy isn’t necessarily going to be a clean slate. In fact, some debts won’t be eradicated at all. Depending on the bankruptcy chapter you apply for, you may be required to pay at least a portion of your debts through a repayment plan over the course of 3-5 years. Additionally, your credit score is likely to take a hit if you are approved for a bankruptcy status and may reflect on your record for years.

Bankruptcy Paperwork is Complex

To the average person, the paperwork for bankruptcy is confusing and difficult to comprehend. The paperwork often entails a mixture of check the boxes, questions about your finances, and areas where you must list very personal information. Any errors on these documents may result in a denial or halt in the application process. For many people, assistance from a legal professional is needed. An attorney can review what you have filled out, to check for any major errors.

Never Risk a Crime By Being Dishonest

When people are in a state of panic over their finances, they may do desperate things. Clients may feel immense pressure to lie or stretch the truth on their bankruptcy application. However, you must be entirely honest every step of the way and include a list of all of your debts, creditors, and property. If you intentionally leave anything out and it is discovered, not only is your bankruptcy likely to be discharged but you could face a serious federal criminal charge.

Those who file for bankruptcy are likely to feel vulnerable as their finances and personal information are scrutinized. You must be prepared for your financial life being exposed to the public, as anyone who operates under a bankruptcy chapter becomes public knowledge. An attorney can help you decide whether this is the most beneficial resource for you. Please call us today for a no-obligation consultation. They will do what they can to get you to a place of financial stability and confidence.

Source: Credit Card Defense Lawyer Tampa, FL, Law Office of Michael A. Ziegler, P.L.