Bankruptcy is a problem if you ask me. This is because; once you know
you have not been able to pay all the creditors, you need finances. If
you have no help in this regard, you file bankruptcy. While you think now, that this is a problem, you
should know that getting loans in the first place is a problem that initiates
many other problems. Taking loans is not at all advisable. This is due to
the fact that once you are not in the position to fulfill your needs by your
own salary and pocket; then surely, you will be unable to pay back the loans as well and in time too.
The bankruptcy should never be filed. It should be the last resort to
accommodate. This
is because; if the creditors somehow find out that, you may lie and file a
petition, then they will sue you if the information you have given is
wrong. Other than that, no clause in the loan filing says you will be unable to
pay for the loans at their maturity date, and so you will file a petition at
the end. Apart from that, if you still want to go for the bankruptcy filing,
first look for bankruptcy advice so
that you have a clear idea what you might be getting into.
The
bankruptcy advice can be taken from any lawyer or an attorney that deals in
this subject. Other than that, you can find any accountant in bankruptcy because he is the person
who is rightful to know your condition and then tell you what to do if you plan to file bankruptcy.
This accountant can be found in banks and the different financial institutions
around you that provide loans and advice on different financial matters also.
Bankruptcy is not at all easy to file.
There are so many clauses in the chapters of bankruptcy and you have to learn
the tactics and the strategies for filing the petition of bankruptcy.
Therefore, it is
completely necessary that the bankruptcy filing should be accompanied by the advice
and all the information that has to be taken from the eligible sources.
Other than that, if you feel you cannot trust anyone with any advice, then use the internet to
find out about the information related to bankruptcy and its petition filing.
This way, you will be able to gather genuine information on the subject of bankruptcy.
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