Many of the Hackettstown residents who come to us here at our offices here at Jonathan Stone Attorney at Law are initially only concerned about what form of personal bankruptcy they should file: Chapter 7 or 13? Yet we counsel them that before they start getting too deep into their plans, they should first seek credit counseling. Like them, you might assume that this is something that we recommend to clients. Yet again like them, you might be surprised to learn that this is not a recommendation; rather, it is a requirement under federal law.
There are many people out there who are brave and decide that filing for bankruptcy is the right move for them to clear out their old debts. You may think that it is facetious to call filing for bankruptcy a "brave" act, but given the reputation bankruptcy has, it truly is a huge step to take. There are also many myths surrounding the process of bankruptcy, and we want to dispel a few of them today.