Bankruptcies are up all over the country. Whether due to poor financial planning, the loss of an income, or astronomical medical bills, facing the decision to file for bankruptcy is devastating. You may have creditors calling you at all hours, you may be losing sleep over your financial struggles, and you may be faced with losing everything you own including your home. Is it time to go it alone? Absolutely not. Wherever you live, whether it's in Washington or Louisiana, an attorney experienced in bankruptcy is your best bet.

When faced with money troubles, it might seem like common sense to save money and file bankruptcy for yourself as long as it's legal. The problem with that is that you don't have the knowledge to avoid all the legal pitfalls, and failing to file all required documents and attend to all the details can result in your case being thrown out and you remaining at the mercy of your creditors. Instead, consider it money well spent to have a skilled, aggressive lawyer taking care of things of your behalf.

There are several types of bankruptcy. As an individual, you'll probably consider either Chapter 7 or Chapter 13, which differ in results. Chapter 7 requires that all your qu
alified assets are liquidated (sold for cash), with the proceeds going to pay off your creditors. You also cannot file Chapter 7 for another six years. In many situations, most of your assets will not be qualified for liquidation, and this is the best choice for individuals who will be able to keep just about everything they own and yet be free of harassing phone calls and letters from former creditors.
Chapter 13 allows you to set up a payment plan. You'll end up paying some or all of your debt, but your creditors will no longer be able to try and hurry you up in payments or demand a cash settlement. This is good for an individual who still has a solid, steady income but needs time to get out from under the burden of debt.

Bankruptcy laws vary from state to state, which is why it's so important to hire an experienced bankruptcy attorney in your area. If you're living in Louisiana, hire a Louisiana attorney, not someone from California, and vice versa. Be completely honest and open with your lawyer in filling out paperwork and answering questions. In that way, your attorney will be able to give you the advice you need and work on your behalf. Bankruptcy isn't the end of your life. Think of it as a way to clear the slate and start fresh, making better and wiser financial decisions into the future.