A Good Attitude Equals Success When Filing Bankruptcy


Being positive in everything we do will give us better results than being negative. Attitude is everything even when filing bankruptcy. Many people get themselves into financial trouble because of a bad attitude and failing to address the financial problems that are plaguing them. Instead of dealing with it, they bury their head in the sand and ignore the warning signs that end up with them filing bankruptcy. While no one really wants to file for bankruptcy, there are circumstances beyond many people's control that gives them no other option. Having a positive attitude facing unknown circumstances will help a person persevere and face their problems head on. Being depressed and doing the minimum will only cause more damage.

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Most people filing bankruptcy have a good idea that the process will be stressful and painful. While Chapter 7 bankruptcy is otherwise known as the liquidation chapter, in today's economy, rarely is anything liquidated. This is something that will brighten up the spirits of even someone with a negative attitude. The bankruptcy trustee does not pull up to one's house in a box van and take all of their personal belongings to be sold at a swap meet. People need to know that the idea behind filing bankruptcy is to give Americans that have gotten themselves into financial trouble a fresh start. Taking away all their belongings would make it all that much harder for them to get back on their feet. That's why Congress included generous bankruptcy exemption laws to protect a sufficient amount of property of the individual filing for bankruptcy. Since the economy is still in the doldrums, the bankruptcy trustee will weigh the costs of gathering and selling items that are not protected by bankruptcy exemption laws and compare it to the rewards that can be gathered and dispersed amongst the creditors.

Typically, the things they are looking for are antiques, cash or other easily liquidated items that are not protected. This is another reason why it is important to be represented by a bankruptcy lawyer through the process. The lawyer will know the ins and outs of the bankruptcy exemption laws and know what is expected of the bankruptcy trustee for a successful bankruptcy discharge.

Having the right attitude will help an individual get along with their bankruptcy lawyer. The process will end up being a team effort and it is necessary to be honest and upfront with the lawyer to get a successful bankruptcy discharge. Having a bad attitude will make it hard to deal with the attorney and their staff. It also could cause problems when the individual first meets the bankruptcy trustee at the 341 meeting. Not being cooperative might send up some red flags for the trustee to question everything on the bankruptcy petition. It's much easier to try and be positive and go with the flow. Before the person filing bankruptcy knows, they will be getting their bankruptcy discharge in the mail and be on the road to becoming debt-free. This tough season in their life will disappear in a short period of time.


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