MAKING THE DECISION TO FILE BANKRUPTCY

Do not assume that bankruptcy will help you or hurt you
The decision to file bankruptcy should always be made only after you have considered your situation and what is best for you.  Too often, I have people coming into my office wanting to file bankruptcy even though they have no idea of what that really means and what effect it will have on them..
Bankruptcy is not about debt, but, about your future.  If you file bankruptcy, will all of your debts be discharged?  If not, what debts will not be discharged?
Is debt consolidation a good option in many or most cases?
Should you try to keep you home or car? Should you believe me or someone on the street who told you that they heard that someone was able to do something that you want to do?
The very first step you should take is talk to an attorney who will help you look at your options.  You may like what you hear or not like what you hear.  Knowing what you can or cannot do is very important.  Without that knowledge, you may do things that actually make your situation worse.  In fact, you could even be barred from filing bankruptcy and getting your discharge.
Never meet with a paralegal or other person to make the decision as to whether you should file bankruptcy or not.
There is a reason that attorneys give legal advice.  They are fully trained and ready to help you.   Most attorneys have never filed a Chapter 9 bankruptcy or a Chapter 12 bankruptcy.   Many very good bankruptcy attorneys do not file chapter 11 cases.
If an attorney only files Chapter 7 cases, go see another attorney.  That attorney may or may not be working in your best interest when he or she says, no I only file Chapter 7 cases.  Do you really think that the attorney wants to see you walk out the door and take the money you would pay with you?
That is the same problem with most debt consolidation companies.  In a later section, I will discuss debt consolidation companies and which one to use.  If the only thing the person you are talking with does is debt consolidation, the debt consolidation company is going to tell you that what they do is best for you.  The person you are talking to is, in most cases, compensated  based on what business comes in to that person.   Bonuses are tied to amounts made.

About Nathan Davis, Esquire

Born in Charleston, South Carolina, Nathan Davis has been practicing law for many years. Mr. Davis has a wide variety of experiences having practiced domestic relations, criminal law, social security law having also practiced collection law in the past. This knowledge is helpful when someone needs to restart their financial life. The practice is now primarily bankruptcy and debtor representation work, but, Mr. Davis continues to also practice real estate law, trusts and estates and a general litigation practice. I believe that the most important part of representation is trying to leave you better off when the case is finished than when you started. Although I will do as my client directs, I will always tell you if I think that you are making a mistake. Bankruptcy is about a "fresh start". If you do not make changes in what you are doing, you will be doing what you are doing now in the future. There is no shame in bankruptcy or other steps that you may take to start your life over. Too often, people worry more about things than about themselves, their family or their future.
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