If you know you’re going to declare bankruptcy, there’s probably not much I can say to make you change your mind but there are a few things I can point out to you that will make your more aware of what you’re actually doing.  Before we start with the tips, you have to remember that bankruptcy isn’t a get of debt free card.  It’s going to hurt you for the next seven years and no, bankruptcy doesn’t clear everything!  Let’s get started.

The laws are hard- If you haven’t even filed yet, do you know if you’re going to be eligible?  If can’t file, what is your back up plan?  Make sure you have a back up plan because if you go into the courts thinking everyone gets approved, you’re way off.

Do you know what you’re getting into? As I already mentioned, you’re not just going to walk out of the courts as a new man or woman.  You’re going to have a ding on your credit report for years to come.  What does this mean?  Kiss the good interest rates goodbye and kiss the annual-fee free credit cards away as well.  You’re most likely going to pay for all of these now.

Know what you’re getting out of – Bankruptcy doesn’t clear everything.  In fact, there are some things you’ll have to pay back regardless.  Depending on your state laws, etc, you’re going to probably always owe things like your student loans, child support and other debts regardless of your situations.

Do you really need to do this?  Experts say that you should only consider bankruptcy if you have debts that would be next to impossible to pay off in the next five years.  Have you tried anything to pay these debts off?  or are you just looking to take the easy street?  Have you tried working part-time, selling your house?  There’s so much you can do to make more money and don’t use the excuse that you’re too busy or the economy is bad.  There are ALWAYS jobs.

Get advice – If you haven’t done so already, try and talk with some professionals to see what they think about the situation.  Do they want you to go for it or do they have some solutions?  You’ll be surprised sometimes on how many other routes you can take in order to get out of the debt mess.

Bankruptcy should be your last resort, period.  Try and find any alternative to try and get out of it.  Remember, if you do take the bankruptcy route, have a back up plan.  That way if things do fail, you won’t have your head down.  Debt also won’t go away just by sitting there.  Get up, work and take action.  Nothing comes easy in life!