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If You Have to File Bankruptcy, Do It Immediately
If you have to file bankruptcy, do it immediately. The longer you delay, the more you’re going to pay. You’ll pay more for attorneys fees because your problems will become more complicated. And your credit score will pay a heavy price if you delay filing bankruptcy when you know you have to file. In less common situations, it may make sense to delay filing for a time. But in most cases, once you know you have to file bankruptcy, you should do it immediately.
Pressing Matters
If you are facing foreclosure and your alternatives have been exhausted, you must file bankruptcy to stop the foreclosure. Likewise, with repossessions, garnishments, lawsuits and evictions, in many cases filing bankruptcy is the sole solution. You should file bankruptcy immediately to mitigate the effects of creditor actions.
Garnishment, repossession, foreclosure, lawsuits — these are pressing matters. A good bankruptcy lawyer will tell you your bankruptcy timeline, including any hard deadlines on when you must file. If your bankruptcy attorney tells you that time is of the essence, work quickly to get your case filed as soon as possible.
Timing Issues
Other times, you may be served by delaying a bankruptcy filing. For instance, if a foreclosure auction is scheduled far enough out, it may make sense to delay a bankruptcy filing to include upcoming months in the Chapter 13 plan.
Under other circumstances, if you have incurred debt very recently or expect to incur debt in the near future, it may be smart to delay your filing until you can include those debts in your bankruptcy. Or you may have made a large transfer or bequest of property recently, which may also justify holding off on filing bankruptcy.
But those are all less common issues. For the vast majority of Chapter 7 bankruptcy filers, the sooner that you file your bankruptcy, the better.
If You Have to File Bankruptcy, Do It Now
The sooner you file your bankruptcy, the more quickly your credit will begin to heal. I can not understate the importance of having good credit in today’s world.
The sooner you are debt-free, the more attention you will be able to pay to the aspects of your life you really care about.
And the sooner you put daylight between you and your creditors, the sooner you can focus on moving past your debt.
If you know you have to file bankruptcy, don’t procrastinate. Start the process immediately.
They Called. They're Glad They Did.
Brian Lee from Lee Legal was an amazing attorney to work with. He took his time, reviewed my documents and we discussed my situation thoroughly. He explained the process and my options as well as gave his recommendation. Not only did he assist, but he ensured that I knew this...
I was very nervous and scared about going through this process. But Brian was very knowledgeable and helped me through it. I was notified about any and all updates to my case and he was very responsive when I had questions regarding any concerns I had. Although a bit nerve...
Brian provided me with a very detailed analysis about my potential case after our first consultation. He promptly responded to all my complex questions, especially navigating student loans and some tax discussions. He is very professional and experienced at what he does, I would...
I've had the pleasure of working alongside Brian V. Lee for several years, and I can say without hesitation that he is one of the most knowledgeable bankruptcy attorneys in the DMV area. Brian's command of Chapter 7, 11, and 13 practice is exceptional, and his clients in the DC...
Brian has the amazing talent of taking complicated legal matters and distilling them down to seamless, frictionless resolutions. He is a phenomenal problem solver and a trusted advisor.
Brian is both warm and professional. He helped me navigate a financial issue that I had not been looking forward to working on and he made the entire experience non-stressful, receiving a lot of anxiety I had around the matter. He is straight forward and a fantastic problem...
I had the opportunity to work with Brian at a time when I was challenged by a professional setback and forced with the challenge of making some very difficult legal decisions. Additionally, I worked with him again as I was dealing with some financial issues pertaining to my...
Still several years from Public Service Student Loan Forgiveness and saddled with significant student loan payments in proportion to my income, I came to Lee Legal to explore the bankruptcy path. Through his counsel, Brian took the fear out of the process and helped me to...
