If your debt has gotten so overwhelming that you just can't do anything about it because you don't have the money to pay it, it may be time for you to declare bankruptcy. Doing this will let you start to catch up on your bills and get out from under all the debt that you are in. But filing for bankruptcy isn't something that you are going to do in one fell swoop. There are a number of things that you have to do as part of the process.
One of the things that you have to do as part of the process is some credit counseling. This counseling will let you learn some ways to manage your money better, which may help head off this problem in the future. You will learn better budgeting tools and how to track your spending. Your credit counselor may also help you with consolidating some of your bills and negotiating with your creditors, which can help you start to pay down as much debt as you can.
Find an Attorney
You are going to need to have an attorney in order to file for bankruptcy. The attorney can help walk you through the process and will go to court with you to make sure that everything goes as it should. The attorney can also help you pick the correct kind of bankruptcy to file for your needs.
If you are so behind in debt that you can't get caught up, you may be able to file for bankruptcy.
Income and Outgo
Another thing that you are going to have to do is to gather proof of all the income that comes into your house. That includes all of the income from salary to child support. Some of the income may be exempt when it comes to your bankruptcy, but you are still going to need to have proof of how much money you have coming in. Once you know how much you have coming in, you are also going to need to show how much money is going out of your house. That includes all of your bills, rent, miscellaneous expenses, groceries, etc. Then, you are also going to need to know how much you owe. That can take you some time to come up with because you are going to have to look at all the creditors. You may need to call someone to help you.
To learn more about bankruptcy law, contact a bankruptcy attorney in your area.