Many people wait longer than they should before consulting a bankruptcy attorney. It is one of the most discouraging things about bankruptcy.
When you start having problems paying your bills, or suffer a financial reversal: lose your job, have a car repossessed, go into foreclosure of your home, or your business starts to fail; you should contact a bankruptcy attorney before you make decisions that eliminate some of the protection or benefits that bankruptcy could provide for you.
Common mistakes that a bankruptcy attorney would try to counsel you to avoid, include:
Bankruptcy laws are designed to give you some minimal protection from creditors. You should not lose the benefit of a full fresh start by making decisions that deprive you of the opportunity to get all the debt relief that a Chapter 7, Chapter 13, Chapter 11, or Chapter 12 bankruptcy entitles you too.
Basically, most people want to avoid bankruptcy, and, too often, they don't fully consider it as an option until their financial situation is horrible. Get counseling and advice before your situation is hopeless and make informed decisions. You are entitled to hang on as long as you can, but do it knowingly, and with an understanding of what your financial position is as you move forward.
Find an attorney that you can relate to, who you are comfortable with, and who explains your legal rights to you, and get advice from someone who cares about your unique situation and wants to help you.