You would need to smart in the sense that you can seek support of experts in good time to be able to figure out the right manner to handle your situation. You would need lawyers or attorneys whose main area of practice is financial and specifically debt cases like yours and filing of bankruptcy.

With their guide and support, you would be able to know which type to file between the chapter 13 and 7 of bankruptcy is best for you. They have slight differences and you would be able to note that and make informed choices on which one would be best for you at the end of the discussion.

It is important that you free yourself from the embarrassments of your creditors. You need to make them understand that your financial situation is in jeopardy and this has to be as legal a process as possible for your security.
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