If you’re considering filing for bankruptcy, don’t worry. You’re not alone. In 2005 to 2017, roughly 12.8 million consumers filed bankruptcy petitions in the US federal court. For many, bankruptcy is the chance at a fresh start when feeling overwhelmed by the weight of debt. It’s a great option for anyone hoping to get back on their feet, and should not at all be something to be ashamed about.
Whether you’re going through Chapter 7 or Chapter 13, or any different type of bankruptcy, you will need guidance. If you’re navigating bankruptcy in Los Angeles, here are a few tips to help you along the process.
Bankruptcy Tips From A Los Angeles Lawyer:
Tip 1: Make Sure To Check Your Credit Reports.
It might be a good idea to go through your credit reports before you file for bankruptcy. There have been incidents where errors have been spotted on credit reports, so it’s a good idea to address them before you begin the process of filing for bankruptcy.
Make sure to check that your creditors are listed correctly and check on all credit reports from all three bureaus – Equifax, Experian, and Transunion. It’ll be a lot easier to file for bankruptcy without having to go back and correct any incorrect credit reports.
Tip 2: Don’t Wait Too Long To Do Your Mandatory Credit Counseling.
When dealing with bankruptcy in Los Angeles, mandatory credit counseling courses are required during the case filing process. They are required by the state and you may complete them over the course of some weeks, up to a few months, while in the process of filing your case.
It’s important that you make sure not to put off attending your counseling courses until the last minute. A complete certification course is required to move forward with your bankruptcy case, and delaying your courses will in turn cause delays for your case, your attorney, and your trustee.
Tip 3: Work With The Right Bankruptcy Attorney.
If you’re looking for a bankruptcy lawyer in LA, make sure to find the right person for you. It’s important that you work with a lawyer who can give you a positive experience, and who can work with you to get your case heard. While it can be tempting to go for lawyers who offer deals or other ploys to get your attention, be sure to check client reviews to get a gauge on how they handle cases.
Bankruptcy is already difficult to deal with alone. Working with a lawyer who does the opposite of contributing to your situation is not something you need. Your best bet is to find a lawyer who can help guide you through bankruptcy instead of getting you more lost and confused.
Tip 4: Be Honest When It Comes To Disclosing Your Finances.
Even if you’re at a point where you’re considering filing for bankruptcy, it can still be very hard to admit that you are struggling financially. Despite that, it’s important to disclose your finances in clear terms. In the long-run, it won’t do you any help to be vague or try to hide things, especially from your attorney.
Be sure to list down any debts, personal loans, and be open and upfront about your income and regular expenses. And just as you shouldn’t hide your debt, be open about your assets as well. A clear picture of your finances is absolutely necessary when filing for bankruptcy.
Tip 5: Learn To Be Wiser With Your Budget.
While bankruptcy often occurs because of situations outside our control, learning how to be smart with your finances is a necessary life skill. For a while, you will need to stick to a budget while you get back on your feet.
Tip 6: Do Your Research And Take Time To Learn More About Bankruptcy.
It’s important to learn about the different types of bankruptcy and how they might apply to you. This will help you make smart decisions about your case and situation.
If you don’t know where to start, ask for help! Your bankruptcy lawyer is a great resource and can point you in the right direction.
Tip 7: Don’t Feel Embarrassed About Filing For Bankruptcy.
For many of us, filing for bankruptcy is the right move when dealing with debt. Despite the notions surrounding it, don’t let that shame you from making the best possible decision available to you.
Regardless of how it happens, bankruptcy occurs, and that’s okay. If you’re planning on filing for bankruptcy in Los Angeles,
Talk To Us Today To Learn More.
If you’re searching for a bankruptcy lawyer in Los Angeles, the Law Office of R. Grace Rodriguez would be happy to provide you with the assistance you need to navigate the process.
You may visit our main office at 21000 Devonshire St #111, Chatsworth, CA 91311, or contact us at 818-734-7223.