Your financial situation is leaving you stressed and sleepless at night because you cannot seem to figure out how to pay your delinquent bills and debts. You have little money to pay for them without depriving your family of the financial support they need to live. After carefully considering your options, you decide that bankruptcy is the solution.
Once you have made the decision to file for bankruptcy in Florida, you should take some time to prepare for the process.
Adjust your spending habits
Poor financial management and unexpected obligations are common reasons people file for bankruptcy. If your situation is the result of one of those factors, you should start altering your spending behavior now. Once you file for bankruptcy, you are claiming that you cannot afford to pay your bills and are experiencing hardship. Making unnecessary purchases suggests otherwise and can lead to the denial of your bankruptcy claim.
Get your financial documents together
The bankruptcy process is not an easy one to get through. The courts will closely scrutinize your entire financial situation. You will need to file a lot of paperwork to support your claim. In addition to providing the courts with an accurate breakdown of your finances, you need to provide documents and records of every asset that is in your name and every bill and debt you owe.
Inform your creditors
Contact your creditors to let them know you have filed for bankruptcy. Federal law prohibits collection agencies and debt collectors from continuing any collection activity by phone, email and regular mail while you are in bankruptcy.
Bankruptcy is often a chance at a new financial start for many people. Use the time you are in bankruptcy to develop good money management behaviors. If you the bankruptcy process confuses you or you need help getting the proper documents, you should speak to an attorney for guidance.