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Road to A Personal Bankruptcy Discharge

Anger, anguish, frustration, and sadness are all emotions felt by those who experience personal bankruptcy. Those who file bankruptcy worry they will be s

Road to A Personal Bankruptcy Discharge


Anger, anguish, frustration, and sadness are all emotions felt by those who experience personal bankruptcy. Those who file bankruptcy worry they will be stuck and unable to pay their bills and still live their lives everyday. They think they are stuck, but they really aren’t, and neither are you, thanks to the following tips.

Stay Calm… Don’t Worry



Instead of relying on random selections from the phone book or Internet, ask around and get personal recommendations. Don’t allow yourself to be taken advantage of by predatory lawyers just because you are filing for bankruptcy. It is important to find someone trustworthy.


Prior to filing for bankruptcy, determine which assets, if any, are exempt from being seized. The Bankruptcy Code includes a list of the types of assets that are exempt from the bankruptcy process. You need to compare this list to the assets you own so that you are not surprised when certain assets are seized. Without reading the list, you may be shocked at which possessions can be taken from you.


You should not have to pay for a consultation with a bankruptcy attorney. Make sure you ask lots of questions. Nearly all attorneys offer free initial consultations, so you should be able to meet with a few before you make a final hiring decision. Don’t hire an attorney who fails to address all your concerns and questions. It is not necessary to decide immediately after your consultation. This will give you extra time to interview several attorneys.


Consider Chapter 13 bankruptcy for your filing. You are eligible to file Chapter 13 bankruptcy if your income is reliable and your unsecured debt does not exceed $250,000. This allows you to keep possession of your real estate and property and repay your debt through a debt plan. Such plans generally take between 3 and 5 years to complete, at which point. a discharge will be granted. Keep in mind that missed payments will trigger dismissal of your case.


Make sure you know the bankruptcy laws before filing your petition. There are some clauses within bankruptcy that could cause you upsets. Mistakes can also have your case dismissed. Make sure you have a decent understanding of the bankruptcy process before you proceed. This will make the bankruptcy process much simpler.


Ask your bankruptcy lawyer if they have a telephone number for you to refer all debt collectors when they call about your debt. All you have to do is provide the number. Your creditor can then call and confirm that this debt is included in your bankruptcy filing. That will help you avoid them in the future.


Don’t procrastinate when it comes to your personal bankruptcy. If you have no other options, then delaying it will not improve the situation.  It is best to file as quick as possible.


After reading, you can see you do have options available, and bankruptcy does not signal the end of the world. In the beginning, it can be hard, but there is no reason why bankruptcy should defeat you. Using these tips will allow you to get through this process with ease.

Does someone you love need this information?  Please Share- Information and education can set our minds at ease and eliminate fears when going through financial challanges.

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8 comments on “Road to A Personal Bankruptcy Discharge

  1. Wonderful information. There are reasons why such options exist for those who need them. You two are wonderful to provide such information as you always do to the public. I am proud to be a fellow blogger. Great post.

  2. great info.. Bankruptcy.. wow.. this is real education..

  3. Great info Rachel 🙂 Thanks for the post!!

  4. Jamison & Rachel, This was very informative—Thanks for writing about a difficult subject in a very easy-to-read and understand format.

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