When
should you file bankruptcy?
Most clients call me months
after they should started the Bankruptcy planning process. People generally try to solve financial problems on their
own. Everyone is hoping that next month will be better. Unfortunately that has not been the trend in our
present economy.
Questions
you should ask yourself
How
many bills do you have;
Do
you make more than the minimum payment on all your accounts;
Do you only pay some of your creditors this month, and
pay different creditors next month?
With
your present repayment budget how long will you take to repay ALL of your creditors?
Do you use your paycheck to pay credit cards so you can
use the credit card for necessities?
Do
you have a cash reserve for emergencies?
Do
you rely on credit to cover emergencies?
Bankruptcy is
a right you have earned.
Bankruptcy planning is ethical and proper. However improper
bankruptcy planning can be fraudulent and cause your case to be dismissed, or worse. There are no "bright lines";
fraud must be determined on a case-by-case basis. Each step
in planning must be examined on its own in light of the facts specific to that particular case.
Call me to discuss your options.
