If you realize that you do not qualify when it comes to the Homestead Exemption when you file for chapter 7 bankruptcy, then you might be able to use chapter 13 bankruptcy when it comes to your mortgage. It might even be better to convert from a Chapter 7 to a Chapter 13; talk to your lawyer about this. List all questions that are concerning you before speaking with the bankruptcy attorney. Lawyers charge a lot for their time. To ensure that the process is as cheap as possible, you should be sure to have everything in order before you see your lawyer. On the other hand, make sure all of your concerns are addressed, even if they aren’t on your written list.

Consolidate a list of what you owe. This will be your basis in filing for bankruptcy, so see to it that you write down all of the debts you’re aware of. Be sure you’re going through every record so you can be sure you’re getting the right amounts. Take your time with the process of filing for personal bankruptcy. It is important that all of the numbers and debts included in your case be included accurately.

Be sure you know what the difference between Chapter 13 and Chapter 7 bankruptcy is. Be sure you go on the Internet and do your research to see what’s best for you. Go to a specialized lawyer to ask your questions and get some useful advice on what to do.