If you are not able to keep your head above water and the best option is bankruptcy, as daunting as it may seem, it may not be so difficult to do. Undoubtedly, when you first start to look into the process, you may feel confused and scared but you can learn the step-by-step process and you can successfully navigate until you are finished.
As you look back, you will probably recognize that it was a long time coming. There are many possible reasons why you feel that bankruptcy is your best option. Overwhelming medical debt, losing your job or an inability to find a job after you have completed your studies may have contributed to your current financial position. Ironically, making the decision to declare bankruptcy may be more difficult for you than the actual process itself.
Bankruptcy laws are in place to help, not to punish
Even though it is emotionally difficult to make a decision to declare bankruptcy, the laws are there to protect you. Once you have taken that stop, a lot of your stress will disappear as well as creditors going after you, whether it is by phone, mail, or Email.
In Indiana, as well as in other states, bankruptcy laws will give you the new start that you need so that you can become comfortable agait is sensible to consult a bankruptcy attorney, who can share valuable information with you and who can help you to navigate the process from beginning to end.
Bankruptcy is freedom from crippling debt
After you have made the decision to declare bankruptcy, your next step is figuring out which type of bankruptcy is right for you. Chapter 7 bankruptcy exonerates you from having to pay your creditors. It is recommended that you consult a bankruptcy attorney to help you with the process. The attorney can help you to examine your financials, including your income, expenses, and debt(s). With Chapter 7, your unsecured debt will be eliminated so you can work on what you still need to pay back. You will then have a fresh start so that you can look to a bright future.