Of course, the higher your debt, the slower the process of debt reduction. But please know this: going slowly in the right direction is enormously better than going in the wrong direction at any speed.

For example, I heard about a bankruptcy attorney that had a client come into his office to begin the process of filing a Chapter 7 bankruptcy case. He told the attorney about some of the financial investments and bank accounts he had. But clear as day, he owned more and refused to tell the bankruptcy attorney about them. To prod him along, the attorney informed him that the $50,000 in stock he had would be taken by the court since it was not able to be protected by what we call exemption laws.

The first thing he will require you to do is to pay his fee in full. Don’t take this personally; it is one of the requirements they have to meet. Once you have paid their fees they will start the proceedings.

You must first look forward to get a recommended Bankruptcy lawyer. You may ask a friend or acquaintance to refer one to you. If you do not get it by referral, try Yellow Pages where you’ll find lawyers that are grouped according to specialty. You can also go for debt relief agency. You may first call the bankruptcy lawyer and talk to him about the problem. A lot of bankruptcy lawyers offer free initial consultation. After speaking with two or three bankruptcy lawyers, fix a meeting with one with whom you identify your self. Think about how much experience the lawyer has and whether he specializes in bankruptcy laws or not. Also ask him whether he will be handling the case himself or will hand it over to a paralegal or associate. You can also ask the lawyer if you could play him in installments.

Get every statement and credit card bill and make a list of everything you owe and everything you pay so you can tally up your debt. Sort this list and identify essential expenses and unsecured (think credit cards) debts. You want to tackle each category of debt separately to cut your expenses and pay off or down your debt.

In cases of Chapter 13, though, you will pay a smaller fee upfront and then part of your monthly payment to the bankruptcy trustee will pay the lawyer’s costs. This is spread out over three to five years. During that time, you will make payments to the trustee who will pay those you are in debt to.

Something else you can do is get a part-time or temporary job. Depending on how much your cyber attorney near me will cost, you may only have to work the extra job for a couple of months. Some of the places you may want to look into are retail stores or maybe restaurants. That’s because they will probably have a great need for part-time help.

With the debt snowball method, you start with your smallest bill paying it off as quickly as possible, then moving onto the next smallest applying what the minimum payment was plus what you were paying on the smallest debt to pay that one off as quickly as possible also. Keep doing that with next smallest debt until you can make a fairly large payment against your largest debt.