Chapter 7 Lawyer - How Do You Know When It's Time To File?
Calling a Chapter 7 lawyer and getting started on your bankruptcy proceedings is a huge decision to make. Although it can effectively wipe the slate clean and free you from your debt woes, it is truly a decision that changes your life. It's not easy, and it's something that you should do only as a last resort. So, how do you know when it's time to finally give a Chapter 7 lawyer a call? First of all, here are a few signs.
How You Know It's Time To Make The Call
When each month you find yourself going hundreds of dollars further into debt and debt relief isn't getting any closer,
this is a sign that it might be time to file. This is especially true if you feel like you're running out of options.
If you feel like every time you look outside your car may be gone, or you're worried about creditors showing up and carrying off your other possessions, it may be time to act. Through some types of filings you can get these items back, but when the fear of things disappearing really hits you, getting started will give you instant relief from worry.
Finally, if you get free credit counseling and they advise you that you need to contact a Chapter 7 lawyer to get started, this is a good sign. Credit counseling services will look over all of your finances to make recommendations. Keep in mind, however, that it's in their own best interest to advise you to do this; it’s not exactly an unbiased opinion. In addition to this, go with your gut feeling. You'll know when it's time to act.
Chapter 7 Filing Do's And Dont's
First of all, don't panic and don't make any decisions rashly. This is a scary time and a big decision, so take a few deep breaths and make the right choice. One mistake that people make when they decide to file is that they start selling things off in order to raise money. This is actually done in a blind panic because it feels like it's what you should do. However, it's a bit premature to start getting rid of things already. Hang on and wait until you've talked to your Chapter 7 lawyer.
Another thing that you should be careful about is going further into debt. Many people feel that since they're going to file anyway and the next few months are going to be hard anyway, why not go on one last spending splurge. The problem is that the judge will see this when you're applying and it will make your case weak. Remember that you still need a judge's approval.
One thing that you should do as soon as possible is to find a good, experienced and reliable Chapter 7 lawyer. Your Chapter 7 lawyer is going to be the one person you can trust throughout the process. You'll be doing everything through them. For this reason, find one who you like personally and can easily communicate with. This will make the whole process much smoother.
