33 Things Not to Do When You Are About to File Bankruptcy, #2

Posted by on Aug 25, 2014 in Uncategorized | 0 comments

Don’t file for bankruptcy if your income is more than $100 greater than your expenses.  This is why it is important to talk to a bankruptcy attorney–we have lists of commonly overlooked expenses and what the averages should be for certain categories.  Many times, people overlook such things as security system monitoring fees, pet medications and veterinary bills, medical prescription co-pays, and what is actually spent on car maintenance and fuel.

 

Our courts here in the Northern District of Georgia are pretty strict–if you have more than $100 left over each month after living expenses (not including credit cards, as you are about to discharge those in bankruptcy), you would need to file a Chapter 13 bankruptcy, which lasts three to five years and pays back a portion of your debt to your creditors.

 

Many people coming in to an attorney’s office truly don’t know what they spend on different living expenses.  Look at your credit card statements, your bank statements, your checkbook register, or any other record of your spending, if possible.  Then let us help you so you have the best chance of making it through this complicated process.

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