Posts Tagged ‘bankrupt’

Finding a bankruptcy attorney

Saturday, August 2nd, 2008

So how do you find a bankruptcy lawyer? We started by looking online and in the local phone book for lawyers who specialized in bankruptcy in our area. Bankruptcy courts are seperated by state and district, so you need an attorney who can handle a case in your area.

We found two bankruptcy lawyers to talk to and my business lawyer recommended someone as well. So, now we have three people to talk with to get an idea who we are comfortable with, and get their advice on the situation. Most will offer a free consultation, or charge a minimal fee for this. Our first appointment is Monday.

Stigma of bankruptcy

Friday, August 1st, 2008

It appears there is a huge stigma when you talk about bankruptcy. I can’t believe I’m considering it. Most people think bankruptcy is an out for irresponsible people who leave beyond their means, or others who just don’t know how to handle money.

Well… It’s not. From my research the last few days, the #1 cause of bankrutcy is due to medical bills, #2 is business failure. So I guess I fall into Number 2. To this date (Other than my business rent) I have NEVER had a late payment in 24 years! But here I am considering bankrutcy due to overwhelming debt. I’m sure there are many others in this position as well. And we will see even more in the future if the economy doesn’t pick back up.

I need to determine whether I need to file personal bankruptcy, or business bankrutcy, or both.

The beginning

Wednesday, July 30th, 2008

This website is being created to chronicle what happens during our bankruptcy. How I got here, and all the steps and things that happen during the process. I’ll also share our credit scores to be able to watch what happens during the process.