Need suggestions for filing bankruptcy!

Barnes - posted on 12/22/2017 ( no moms have responded yet )

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Hi
This is for my friend. He lost his job and suffering from terrible financial constraints. He doesn't have any ways to recoup the situation.

I require a little information on bankruptcy to share with him. What are the best things to know about the same? I ran over a few focuses.

1) You can file for bankruptcy and keep most or all of your belongings.

2) You should uncover the greater part of your benefits, obligations, salary, and costs.

3) Bankruptcy petitions involve open record.

4) Your credit will recuperate after some time.

5) Bankruptcy can give you alleviation from the stress of debt.

Can anyone expand me all these? I need more clarifications. What is the role of Licensed Insolvency Trustee? How can they help? He is planning to meet some bankruptcy trustees in NorthYork for support ( http://www.billfixer.com/locations/debt-... ). Is it a good option? Waiting for your replies. Thank you.

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