How Do You Know When to File Bankruptcy?
Filing for bankruptcy protection can be one of the most difficult decisions that anyone can make. This is partly due to the financial and credit impact that occurs immediately upon filing.
However, sometimes it also takes an emotional toll on the debtor. The stigma associated with avoiding payment of one’s legal obligations is not always easy.
Furthermore, few people want to admit failure and unfortunately, there is the belief that bankruptcy is a badge of defeat or of a business venture or life effort gone bad.
Because everyone’s situation is different, there is not a “best” or “good” time to file bankruptcy. To be sure, depending on a person’s financial situation and whether there is imminent danger of wages being garnisheed, a car being repossessed, or a house being lost in a foreclosure sale, there could be a reason to file bankruptcy immediately.
But the important thing to remember is that bankruptcy are federal laws that were specifically created to help people in difficult financial situations. All it takes is a telephone call or an email to find out how these laws can be used to help you. Contact us online or call today at 502-558-8576.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.