Going through a bankruptcy is one of the hardest things individuals and families can face. There is a misconception about bankruptcy in the United States, where people view it as a “get out of jail card” pertaining to their finances. And while it is true that most of your debt gets cancelled when you have declared, you must know that there are severe consequences to declaring. Not only are you going to see your credit impacted, but you are going to have a much harder time managing your finances after the declaration.
That is why it is so important to hire bankruptcy lawyers san diego if you are serious about declaring bankruptcy. Not only are the lawyers going to help you with the declaration process, but they can even talk with you about your decision to declare. They can take a look at your finances, talk with you about the process and figure out whether it is your best option. There are many families who think they have no choice but to declare, but they may not even know if there are any alternatives. So your lawyer can talk with you about those alternatives to see what options are on your table.
If you have talked with your lawyer and you determined that there is no way for you to get out of the financial hole without declaring chapter 7 or chapter 11, they can go through the process with you. They will file all the relevant documents and they can tell you what assets you have to declare, along with the assets you can leave off the filing. Remember that the specifics of filing and asset declaration are going to vary based on the state where you live, which is why it is vital to hire a local bankruptcy attorney.