Important Steps To Take Before Filing For Bankruptcy

There are many steps that need to be taken prior to filing for bankruptcy protection. The very 1st step and without doubt the absolute most important would be to contact a qualified financial adviser and/or a qualified bankruptcy attorney to get the advice and information that you need to move forward. After that is out of the way and you have decided that the best course is to file, then step number two would be to stop incurring debt whether from using credit cards or other means.

If you knowingly run up credit card balances after you have decided to file for bankruptcy you may very well be committing fraud and can be seriously censured for that. If you are facing foreclosure then you need to make sure to contact your lender and try to postpone or stop the process until things have been sorted out in court.

Your lender may very well be amenable to finding a solution in order to prevent you from losing your home. There are also certain bills that you may need to stop paying when going through the process of beginning the proceedings and be sure not to favor one creditor over another by paying them more; this includes loans from family or friends.

There are many other parts of the process that you will need to understand and by contacting a Dallas Texas bankruptcy attorney you will be in the position to understand exactly where you stand and what is expected from you.