But, make no bones about it! If you’re having financial difficulties, now is not the time to let fate have its way with you. The federal system of the United States is designed to help you in this event of turmoil, but you will only be able to make full use of it if you know how to go about it.
What’s the solution?
The first thing you need to do is hire a bankruptcy attorney from New York or from wherever you live. Explain your situation to the lawyer, and tell him the following things:
- What led to this situation
- What payments you have to make
- How much money you owe to lenders, banks, etc.
- What current source(s) of income you have
- How much time you need to be able to pay off your all your debts
- What assets you have to your name
How will you benefit?
The idea of filing for bankruptcy is to gain the ability to pay your debts over an acceptable period and/or have the interest rate waved off to a certain extent. If you file for bankruptcy successfully, you will not just be able to get back on your feet, but also be able to avoid being humiliated or harassed by lenders, or whoever, you own money to.
It is not always necessary that you became bankrupt because of your own fault. It is common to see people getting injured, sick, or having to take the brunt of someone else’s actions in one way or the other. Regardless of why you choose to declare bankruptcy, everybody deserves a second chance.