Do I Tell My Creditors I Am Going Bankrupt?

Steve RhodePosted by Steve Rhode
Ask me your question.		Click on the star rating below to rate this article.
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

A question I am often asked is if people need to tell their creditors that they are going bankrupt. If you’ve already decided to go bankrupt and you’ve met with a bankruptcy attorney who will handle your case, then there is no harm in telling them, but why?

Once you have made the decision to go bankrupt you can direct all creditor calls to your bankruptcy attorney. They are now your legal representative in this matter.

There are three primary reasons why telling your creditors is of little importance to me.

  1. If your situation and pressure are bad enough, then the immediate brain break from having to deal with your creditors as your case is being filed can be a good thing.
  2. The person who you would tell at the creditor does not give a damn. All they are going to do is make a note of it.
  3. Your creditor will find out soon enough once they receive the notice from the court.

So, bottom line advice, tell them if you want but make sure you instruct them to call your bankruptcy attorney for all further communications about the included account. Rather than worry over the issue, put your feet up for a moment, there is going to be enough hard work ahead to rebuild your financial life.

Source: Do I Tell My Creditors I Am Going Bankrupt?

Sphere: Related Content

Other Related Articles to Read

If you enjoyed this article and would like to be notified when new similar articles are posted, you can have them delivered right to your e-mail inbox or to your blog reader absolutely free.

Enter your email address:

Tags: , , , , , ,
What do you think this person should do? Do you have a message of encouragement or support you'd like to leave? Leave you comments and advice below.

Comments
  Comment by CYNTHIA on December 11, 2008 @ 10:01 pm

we had to file bankruptsy about 5 yrs ago, it started out as an chapter 11, then we changed it. THIS WAS MEDICAL BANKRUPTSY. NOW WE ARE IN DEBT AGAIN WITH MEDICAL. HOW LONG DO WE NEED TO WAIT BEFORE WE CAN MAYBE FILE AGAIN, THIS IS NOT WHAT WE WANT TO DO, BUT AS OF NOW WE DONT SEE ANY OTHER WAY OUT. THANK YOU

Comment Vote: Thumb up 0 Thumb down 0

Steve Rhode  Comment by Steve Rhode on December 11, 2008 @ 10:38 pm

Cynthia,

You really should speak to a local bankruptcy attorney for specific legal information about filing bankruptcy again. Click here for bankruptcy information.

Steve

Comment Vote: Thumb up 0 Thumb down 0

Leave a comment

(required)

(required but not published)


CommentLuv Enabled

Subscribe without commenting

 


Do You Have a Get Out of Debt Question You Want to Ask?

I'm happy to answer any question you have about how to get out of debt, as honestly as possible by sharing with you my experience and truth that I learned from helping thousands of people to get out of debt. Don't be shy, if you need help, ask now, click here.

And if you want to follow the latest questions and answers, just subscribe to my site RSS feed or get the email newsletter for free.