ave gotten overwhelming or you face the possibility of foreclosure on your home. Though bankruptcy is an alternative, there are some significant consequences to be considered before making major decision.
A lawyer is the most effective decision to make if decide to file for bankruptcy. While filing bankruptcy without an attorney is possible, ‘getting advice from an experienced attorney is strongly suggested because bankruptcy is a long-term decision that has financial and legal consequences.’ It is essential to first go through a counselling session with any credit counselling organization which has been approved through the Justice Department’s U.S. Trustee Program before filing.
The counselor should review your particular financial needs, explain bankruptcy choices, and help you develop the budget. The counseling is provided for free for those who are able to afford it, but it costs 50 dollars otherwise.
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