This New Year is one like none other. For most people, improving their finances is a resolution that is set this time each year. However, this year a record number of Americans are facing higher than ever before credit card balances and problems making ends meet. Fortunately, there are some solutions to wipe out those credit card balances and start your New Year off on a solid financial foot.
Considerations In Bankruptcy
One of the most important considerations when filing for bankruptcy is to ensure you are working with a qualified Dallas bankruptcy attorney. While you legally can file for bankruptcy without an attorney, it is not advised to work alone through this process. A bankruptcy attorney can answer any questions that you have about bankruptcy and debt relief. They can review all of your debt relief options and guide you to an educated decision that is best for you and your family.
Another major consideration in filing for bankruptcy to eliminate credit card debt is whether or not you are married. If you are legally married to a person that is also listed on your credit card debt account, filing for bankruptcy becomes more complicated. There are important differences in the benefits and risks in filing for bankruptcy individually or as a couple. For example, if one member of a couple files for bankruptcy individually on debts that are jointly held; it could leave the non-filing spouse solely liable for the debt in full. Similarly, if one member of a couple files for bankruptcy individually on secured debts that are jointly tied to assets; it could leave the non-filing spouse solely eligible to have those secured debt assets that serve as collateral repossessed or foreclosed.
Be sure to consult with a Dallas bankruptcy attorney about your credit card debts before you file to ensure desired outcomes with your debt relief.