Six Things to Do before Filing for Bankruptcy

Six Things to Do before Filing for Bankruptcy

With the current economic downturn, many men and women are feeling a financial strain that feels insurmountable. For many of these people, bankruptcy seems the only option to getting out from under their debt and financial obligations. However, although bankruptcy is an option, recent legal changes have made filing for bankruptcy both a difficult and costly process. Before deciding on bankruptcy, consider these six alternatives:

1. Look at the Budget

As part of the bankruptcy policy, consumers are required to take a credit counseling class for the purpose of helping consumers examine their expenses and income in order to determine if bankruptcy is the right option. Continue reading Six Things to Do before Filing for Bankruptcy