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When Should You File for Bankruptcy?

  • By Chicagoland Bankruptcy
  • •
  • 27 Jun, 2014
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... Read more »
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.
Contact Us
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.

Will Bankruptcy Prevent Your Foreclosure?

By Chicagoland Bankruptcy • 27 Jun, 2014
Many people filing for bankruptcy do so in the hopes of stopping their lenders from foreclosing on their homes. Bankruptcy offers some powerful legal tools to help these people protect their houses and property from being repossessed by their creditors. However, completely preventing a foreclosure is not guaranteed in all cases of bankruptcy. If your... Read more »

Who Gets Paid First?: Creditor Priority in Bankruptcy

By Nat Rosasco • 27 Jun, 2014
When a debtor files for bankruptcy, they may want to give certain creditors priority of payment. However, priority is a complicated issue in these proceedings. In many situations, a debtor will have little to no say about which creditor is given priority during repayment or after liquidation. In these situations, it is often the decision... Read more »

Why You Should Avoid Intentional Debt before Bankruptcy

By Chicagoland Bankruptcy • 27 Jun, 2014
With the help of a bankruptcy attorney, a person may be able to carefully handle their debt problems and lower or eliminate their obligations to creditors. However, this doesn’t mean that a person can intentionally rack up debt before filing for bankruptcy. If a person uses their credit cards heavily before filing for bankruptcy and... Read more »
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