Debt Consolidation Credit Counseling In Phoenix

Have you heard of the new bankruptcy laws? It's been around since 2005 and you might have heard or read something about it. The laws are created to protect both the creditors and the debtors. There are many laws of bankruptcy that you would want to apply for. The process of choose the right law can be tough.

In general, most people would want to file for Chapter 7 bankruptcy because this law tends to favor the debtors. However, there are quite a few criterias that a debtor must fulfill before he can file for Chapter 7 bankruptcy.

Whether or not you are going to file under this law, here are some tips which will help you applying for chapter 7 bankruptcy in the right manner:

- Bankruptcy should always be the final resolve and file for it only when there is no way out.

- Begin with a bankruptcy attorney. An attorney is a professional and has the knowledge and proficiency to help you in the entire procedure.

- You must attend credit counseling.

- File a petition. The petition will prevent your creditors from suing you using other laws.

- Make sure that you complete all your paper works correctly.

- Make neccessary fees payment promptly.

- A meeting will be held in about a month after the petition. Your creditors will be present and questions about your property and financial status will be asked and you must answer them. You cannot miss this meeting, it is very important.

So all in all, when you have followed the abovementioned advice you should be able to manage your debts.