Ten Reasons To Delay Filing Bankruptcy! Reason No. 1: Anticipated Medical Expenses
By Kevin Gipson, New Orleans Bankruptcy Attorney on Dec 31, 2008 in Bankruptcy Practice and Procedure, Benefits of Bankruptcy
With many bankruptcy clients, the timing of their bankruptcy filing is of little or no concern. However, there are definitely filing situations where the expression “timing is everything” should be heeded.
Over the next several articles I will address ten situations where I would normally recommend that a client wait to file bankruptcy.
If a client is anticipating incurring medical expenses I will usually suggest that they wait to file their bankruptcy if at all possible.
Pregnancy is one situation that come to mind.
Even when the client has health insurance, the co-pays and deductibles from a premature delivery, pediatric ICU, or other expenses associated with complications during child birth can be staggering.
This is also true of elective surgeries.
Unless there is a compelling reasons, such as a wage garnishment or a pending foreclosure, I think it is best to delay the filing of the bankruptcy until after the medical care has been provided and the bills are in. That way, the client does not have the burden of undischarged debt with which to deal.
An experienced bankruptcy attorney such as those contributors to the Bankruptcy Law Network will take the time to question you about events that may be coming up in your future to counsel you on whether to delay the filing of your bankruptcy.
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