How do I apply for bankruptcy protection?

This is not an uncommon scenario in todays economy, and more and more people are finding that bankruptcy protection is the only legal way to get their financial situation fixed.

For starters, do everything you can to avoid touching your retirement accounts. These funds will be protected by bankruptcy law, so you can keep them no matter what and still get rid of your debt. Ignore the credit card bills, and talk to a bankruptcy lawyer. You have several options available to you to get rid of your debt, keep your home and car, and stop harassing phone calls from creditors.

It is important to talk to a bankruptcy attorney BEFORE you file any forms for bankruptcy, or make any more payment to your creditors. The most important part of any bankruptcy case is what happens before the bankruptcy petition is filed.

Another thing to do is attend pre-bankruptcy credit counseling. You will be required to do this before you can file for bankruptcy, and even if you don't apply for bankruptcy protection you will learn a lot about your options. It usually only take a few hours.