Assuming that you have chosen wisely, when you go for your first consultation with a Bankruptcy Attorney In Upland you should be aware that Federal law implies that bankruptcy attorneys should also be approved debt relief agencies. Their function is to provide legal assistance to anyone seeking relief under the U.S. Bankruptcy Code.
Do Not Confuse This With The “Get Out Of Debt” Advertisements
These seem to dominate day time TV and radio (when the audience has to be largely made up of people who do not go to work); there are some that can help; but, often at considerable cost to the applicant. Also, such schemes are unlikely to be able to settle the debts of anyone so seriously in debt as to be considering filing for bankruptcy.
Bankruptcy Is The Final Debt Solution
As with other problems in life, one rarely gets suddenly thrown into a bankruptcy situation; it is more of a “slippery slope” and the trick is to recognise that you are sliding downhill into debt before it gets totally out of hand. Admittedly, factors beyond your control (such as huge emergency medical bills) can defeat even the best laid financial planning.
If you are approaching dire straits, it is most likely that you could be considering filing for either Chapter 7 or Chapter 13 bankruptcy. However, before you can do this, you are required to undergo credit counseling with an approved consumer credit counseling agency. These requirements will be outlined at your initial consultation with a bankruptcy attorney in Upland with an emphasis on avoiding having to file for bankruptcy. Obviously, finding a way to pay off your debts is the key issue in all of this and the credit counselor will investigate all possibilities; but, if it is determined that there are no viable ways for you to clear your debts in anything like a reasonable time; then (and only then) will you be permitted to instigate bankruptcy proceedings.
Your Bankruptcy Attorney In Upland should also advise you of the consequences of declaring bankruptcy; even after your debt problem has been resolved, you will have difficulties obtaining new lines of credit for quite a number of years. If at all possible, finding a good debt relief plan that can satisfy both your ability to pay and the creditors’ preparedness to wait should be your first priority.
