Use the Time Before Filing Wisely
For some, filing bankruptcy is an easy decision. The threat of foreclosure on one’s home, or the “repo man” taking one’s car makes the decision to file much easier, because of the urgency of the situation. For others however, they have a little more time to make the decision, which enables them to be better prepared for filing. This time allows them to accomplish several things that will improve the chances of a successful discharge. The first is changing banks. If one owes his current bank a balance on any credit cards or loans, it would behoove him to switch banks in order to avoid having his account garnished by his current bank. The process of changing banks, particularly if one has direct deposit, may take a couple of weeks, so the extra time is very beneficial in this instance. Another benefit afforded to those planning to file bankruptcy, is that they are able to save money that will be used to make the payments for the house and the trustee payments that will start in thirty days.
Be sure to speak with your attorney regarding the details of your situation, because you may need to wait a couple of months to file. The time leading up to filing can be very beneficial to the client, as seen above, and can act as a catalyst to a smoother, more successful bankruptcy.
If you would like to find more information about attorneys in your area such as an Arizona Bankruptcy Attorney or a bankruptcy attorney in Maryland please fill out a free evaluation.
Please fill out our free evaluation form to determine if bankruptcy is right for you.
