There are many myths and misconceptions about bankruptcy and the process of filing for bankruptcy. One common belief is that you can save money by managing your bankruptcy without hiring a lawyer. However, this is not true. In fact, it could cost you more in the long run if you don't have someone experienced to guide you through the process. That's why it's essential to consult with a reputable bankruptcy law service before taking any action. The only way to fully ensure bankruptcy is even the most restorative option in your situation is to consult an expert. Further, you will need to develop a strategy for dealing with creditors that may not be willing to let go of your debt very quickly. Additionally, you must select the type of bankruptcy you will be filing for and be informed of all your options and legal rights. There are many steps involved in planning a bankruptcy, but it doesn't have to be a challenge with the aid of one of our Harrison County law offices.
Before proceeding with bankruptcy, you should know how it works and understand the primary forms of bankruptcy available to you. One important note is that a bankruptcy will not necessarily erase or revise your financial history. It is important to know that bankruptcy will likely stay on your credit report for many years. For example, a Chapter 13 bankruptcy will remain on your credit report for up to seven years, and a Chapter 7 can impact you for up to ten. The bankruptcy process can last months, so if you are facing the possibility of experiencing overwhelming debt, it is wise to act now and consult with a bankruptcy law firm near you.