If you are considering filing a bankruptcy, the timing of when you file might be critical. If you have filed a bankruptcy previously, there are limits of when you can obtain a discharge in a new bankruptcy. These need to be carefully examined.
If you haven’t previously filed bankruptcy, you may want to do so quickly to stop a garnishment or foreclosure, or you may want to drag your feet to make sure that you have maximized your exempt assets and minimized nonexempt assets. Further, you may be looking at a change of circumstances which will affect when you file. If you’re anticipating an increase in wages, or loss of overtime, or an imminent marriage; these are all factors that must be considered.
The bottom line is that you should consult a good bankruptcy attorney. Most attorneys will be happy to discuss these issues with you and help you determine when it is right to file so that you don’t make what might be a crucial mistake.
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