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St Louis Bankruptcy: When Is The Best Time To File A Bankruptcy?


There really isn’t a “perfect” time to file a St Louis bankruptcy. The timing of your filing is going to be greatly dependent on a number of factors (some of which may apply, some may not). Below is a description of some of the things that play a significant role in an individual’s decision-making process:

A lot of people will ask me if their debt levels need to reach a certain point before they file for bankruptcy (there isn’t), or if they have to first fall behind on their debts for a certain period of time before filing (you do not), or even if they have to wait until the debts get turned over to a collection agency (which is not necessary at all). In fact, there is no date or point in time that you have to file; indeed, every situation is a little bit different.

For example, I have filed cases for individuals who have tried for years to pay back their creditors (and during that period of time, they nearly drove themselves crazy with anxiety and depression trying to deal with the idea of staying somewhat current on their bills). And I have filed St Louis bankruptcies for people who are up-to-date and current on each one of their debts, but they see the writing on the wall (and recognize that in a very short period of time, they will fall behind and start to struggle). In either case, the bankruptcy will discharge the unsecured debt (i.e. knock it out forever).


Having said that, there are certain situations in which you might want to file more quickly (sooner rather than later). For instance, if you are facing a foreclosure on your home (and you want to save it), then you’ll need to file before the foreclosure sale date. Or if your car was just recently repossessed, then a bankruptcy filing will need to be done immediately (assuming you want to get the car back). Or if your wages are currently being garnished, and a full 25% of your net income is being deducted from your paycheck. So there are definitely situations in which you would want to file in a hurry!

But that is why it is so terribly important to meet with an experienced St Louis bankruptcy lawyer!! We will answer all your questions, describe your full range of options, and help guide you through the process from start to finish!

The affordable St. Louis bankruptcy attorneys at The Bankruptcy Company have been saving and protecting people’s assets for years. Our goal is to make sure that you keep the assets and property you want, discharge the debts that you want to get rid of, and do it all at an affordable cost to you. All phone conversations and office consultations are free of charge.

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