Both cases may be true, it depends on your situation before you file, what kind of bankruptcy you file, and how you handle your finances after your claim.
Whether or not bankruptcy actually solves all your problems, it’s a very serious thing, and something that should not be entered into lightly. While there are some advantages to claiming bankruptcy, there are also many disadvantages and if you do it at the wrong time, or in the wrong way, it could be even more serious.
Before you consider filing for bankruptcy, it’s extremely important that you examine all of your alternatives carefully, and that you choose the right person to help you file. This will be your bankruptcy lawyer.
A good bankruptcy lawyer will make sure that your bankruptcy claim is filed and handled in a timely manner and that the agreed upon terms after you file will serve your best interest. But there are a lot of bankruptcy lawyers out there, and some are definitely better than others for your particular situation.
So how do you go about choosing a bankruptcy lawyer, or even filing for bankruptcy in the first place? You start by fully understanding what bankruptcy is and how it will affect you, what your alternatives are, and a lot of research on different bankruptcy lawyers that can help you with all of the above! Check out our blog about What happens when you file for Bankruptcy!