Cumming Filing for Bankruptcy Attorney
Determining the Best Time to File for Bankruptcy
Deciding to file for bankruptcy can be difficult for many people. However,
once you've decided to file bankruptcy, there are still numerous other
decisions you will need to make. One of the first and most important decisions
is figuring out when to file for bankruptcy.
Depending on the type of bankruptcy you file, you will likely still have
financial obligations once you've filed. Whether you have monthly
mortgage payments, rent, a car loan or just the day-to-day expenses of
food and gas, it is important to make sure you still have enough money
to make ends meet.
If you are trying to determine the best time to file for bankruptcy, I
can help. I'm
Marcus A. Rosin, P.C., and I have experience helping individuals use bankruptcy as a positive
means to rebuild their finances.
Understanding the Factors That Influence Timing
When you are thinking about filing bankruptcy, there are a number of factors
that can influence when you should file:
Foreclosure and car repossessions: If you are in danger of losing your house to foreclosure or car to a repossession,
filing for bankruptcy immediately stops the foreclosure proceedings or
Creditor harassment: If the threats and phone calls are unbearable, filing bankruptcy will
immediately stop your creditors from calling you.
Creditor lawsuits: Any lawsuits filed against you will be stopped when you file. Creditors
will not be allowed to pursue any actions against you, including judgments
or any attempts to garnish your wages.
Trustee payments: If you file Chapter 13 bankruptcy, you will need to make trustee payments
for the next three to five years. If you can't currently afford that,
it may be beneficial to wait until you have a new job or a better source
Wage garnishments: If your wages are currently being garnished or are about to be garnished
by a creditor, filing for bankruptcy will stop the garnishment and allow
you to keep your wages.
Job stability: When you file bankruptcy, your income is determined based on the past
six months. If you do not have a job, it may be best to file now before
you start having income that may make you ineligible for a Chapter 7.
If you have a steady job but anticipate losing it, it might be better
to wait to file bankruptcy.
An experienced Cumming filing for bankruptcy lawyer can help make sure
you file when it is most beneficial for you. Filing too early or too late
can have financially difficult repercussions. I can help you use Chapter
7 and Chapter 13 bankruptcy to best meet your financial needs. Contact me
online or call (678) 909-1300 to schedule your free initial consultation with
an experienced Georgia attorney.