When Should You File for Bankruptcy?
Timing is an important part of filing for bankruptcy. While many debtors may think that filing for bankruptcy quickly is the best way to get immediate debt relief, there are some instances when a person may want to consider other options for a short time before filing. This can end up saving them a considerable amount of money and may also open up other legal options.
If you’re searching for a way out of your debt problems, bankruptcy may the solution you’re looking for. To discuss your options with an experienced advisor, contact the Joliet bankruptcy lawyers at the Law Offices of Stuart B. Handelman by calling 815-722-2201 today.
Best Times to File
A person considering bankruptcy may want to think about delaying their case or may want to speed up their decision-making process, depending on what options are available. Time can play a major factor in bankruptcy in the following situations:
- Filing for foreclosure protection quickly to prevent the loss of a house
- Waiting to allow certain expenses to become dischargeable
- Waiting to dilute wages to allow for Chapter 7 filing due to lost or cut income
- Waiting for a mortgage modification
- Filing before a division of property from a divorce
If a person is considering bankruptcy, he or she may want to consider when to file in addition to what type of bankruptcy to file under.
Your debts shouldn’t take over your life. If you’re feeling like you don’t have any options left when dealing with your creditors, it may be time to take strong action towards a freer financial future. For more information regarding your debt-relief options, contact the Joliet bankruptcy attorneys at the Law Offices of Stuart B. Handelman today at 815-722-2201.