Bankruptcy court filing is a complex procedure which can be very stressful since the terms used may not be familiar to anyone other than an attorney. It is stressful since there are deadlines that must be met and paperwork that must be filed, missing or not having the proper documentation can result in the bankruptcy not moving forward and allowing creditors to again start contacting you for payment. It is extremely important to take everything very seriously, the bankruptcy court does not have a sense of humor nor does it like excuses.

If you think that going through with a bankruptcy court filing is going to be the best option for you at this point, you are going to need to get started somewhere. The first thing that you should do is make sure that there are no other alternatives. You have probably been told this before, but should hear it again because it is really of the utmost importance. You should never go through with a bankruptcy court filing if there are any other options you could use, because of the drastic effect that bankruptcy is going to have on your credit and your life in general.

You are also going to need to learn more about and consider the two different bankruptcy types, or at least the two most commonly used: chapter 7 and chapter 13. The chapter 7 type of bankruptcy is a straight or liquidation bankruptcy while the chapter 13 bankruptcy is one that involves a repayment plan. Your attorney is the one who will advise you based on the bankruptcy law. The procedure of bankruptcy court filing means that you are getting an attorney and going through the court to file for bankruptcy. This could be due to a number of different reasons, but if you are basically so deep financially in the hole that you need to just get a fresh start and there is no other way out, bankruptcy may be an ideal choice.

The cost of filing bankruptcy is one of the first things that you will need to think about, because obviously if you are considering bankruptcy you do not have a ton of money available. There are going to be certain costs incurred with a bankruptcy court filing however, which you are going to need to be aware of and understand that this money will have to be paid before the attorney will move forward with the filing.

Getting Started

First of all have a meeting with the attorney of your choice and determine which type of bankruptcy is best for you and how much money you will need to get the filing done. Secondly, if it is a go as far as the filing, do whatever the attorney says you must do as far as your financial information. If your records are not current or orderly, you will have a tedius job ahead of you and may take some time. You do not have time - you must focus like a laser beam and get all the information together in an orderly manner and give it to the attorney as soon as possible.

If you drag your feet, your creditors will not be dragging theirs. You may be facing garnishments, lawsuits, harrassing telephone calls, certified letters and visits from those creditors. It will behoove you to get a move on and free yourself from the stress of your financial situation since once the bankruptcy is filed, everything stops!

At that point, your attorney will be handling your creditors and keep them in line if they should decide to try and get around the law. As you can see, bankruptcy can certainly be quite a lengthy and complex process, but one that is necessary in many situations. Keep in mind that once everything is over with, you can start to rebuild your life and your credit. The main thing is to learn from this experience and vow not to repeat your mistakes ever again!

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