I have found that when people research bankruptcy, the one question they really want answered is “Should I file for bankruptcy?”. The answer varies from case to case, and even a seemingly small nuance about someone’s life can completely change the answer. After more than 20 years of experience as a bankruptcy attorney, I encounter new facts every day and each case has it’s own particularities.
The decision to file for bankruptcy is never made lightly, and is often scary, confusing and frustrating. If you are thinking about bankruptcy, chances are that your financial budget isn’t working or some debt(s) is causing a problem.
Many people start the decision process by doing research on their own to try to make the decision. The internet provides very valuable resources that can answer basic bankruptcy questions and give you some general understanding about bankruptcy.
Some things that might make a difference are income history, payments made on debts, how debts were incurred, financial dealings with friends and relatives, how property is owned, acquired or sold. These and many other things can all alter the answer on whether or not you should file for bankruptcy, and if so whether Chapter 7 or Chapter 13 bankruptcy would be better.
Sometimes it isn’t a matter of whether bankruptcy would benefit you, but when the best time to file bankruptcy would be to get the most favorable results. Timing of filing for bankruptcy can substantially affect outcomes of cases depending on the facts of a case. Once a case is filed, many things can’t be undone if you find yourself facing a surprise result. A good attorney may see facts in a case which might cause an issue, but she may be able to resolve them before filing, or at least warn you and let you know what you are facing.
If you are wondering if you need to file for bankruptcy, the best thing you can do is to seek out the advice of an experienced bankruptcy lawyer for a review of your facts.
by Susanne Robicsek Charlotte NC bankruptcy lawyer
see also:
Should the business file bankruptcy? by Cathy Moran, California Bankruptcy Lawyer
Planning for Bankruptcy – When should I file? – First of a series by by David Leibowitz, Illinois and Wisconsin Bankruptcy Attorney
About Susanne Robicsek, North Carolina Bankruptcy Attorney
Concentrating in Consumer Bankruptcy Law since 1988; Wake Forest Law School JD 1987 Law Office of Susanne M. Robicsek since 1993, Law Clerk to Judge Rufus Reynolds, US Bankruptcy Judge for Middle District of NC; Burns Price & Arneke, PA, David Badger and Associates, PA.
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