During the current recession, there are a lot of people who are declaring bankruptcy. This is due to various reasons and the most common of them are layoffs and medical bills. Due to economic slowdown, there are a lot of companies which are looking to cut costs and reducing the manpower seems to be the easiest way to do that.
Medical bills are also contributing to this population due to the ever increasing cost of health care. Even the medically insured people are having a tough time to avoid bankruptcy.
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If you are in such a position that it is getting difficult for you to pay off the loans and make the ends meet, you are also probably mulling over the idea of filing bankruptcy. After individuals try to find bankruptcy alternatives and see if there is any way they can come out of this situation, there is no other way out but bankruptcy. The next decision which they will need to make is to whether they need an attorney to file bankruptcy or can't they do it themselves.
Do it your bankruptcy is possible but your will need to put in a lot of time and effort to get it done. The steps which need to be taken to file bankruptcy yourself are:
1. You will need to start gathering all the outstanding payments and bills. Make an exhaustive list.
2. Get copies of all bankruptcy forms from local court or government website.
3. Find out which type of bankruptcy you are going to file. Is it going to be chapter 7 or chapter 13?
4. Take an appointment in the court and file your papers. You will need to face the creditors. You will be asked to go though credit management counseling program. This session is a mandatory session now.
Filling bankruptcy yourself is possible but you will need to be very careful and thorough through out the process. One mistake can get your case dismissed. But if you can do it, you will save a lot of money in attorney fees.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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