Many individuals hate the thought of going bankrupt but even detest it more around the festive season. It is a really stressful time because many individuals want to be able to do some gift buying, but their finances are in such a bad state that this makes it most difficult for them. It is important not to run up the credit cards just prior to going bankrupt based on the thought that they are going to be discharged anyway. This can have some detrimental effects on the outcome of your Kentucky bankruptcy.

The best approach is to realize that you are in a bad financial state and taking action to correct this as quickly as possible is your best recourse. You should seek out a experienced bankruptcy attorney and discuss this matter with them. They can tell you what your options are and what you can expect from a bankruptcy action.

While it may be a rough time of year to have to deal with this financial matter it can also be looked upon as being a fresh start for the new year that is upcoming. Family and friends should understand that you are in financial difficulty and may not be able to participate in the gift of buying activities that you normally would.

It will have to be determined whether you qualify for a Chapter 7 or Chapter 13 bankruptcy but in either case this is going to take the pressure offer you of having to deal with your creditors, and help you to get more financially stable moving forward