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When Is The Right Time To File Bankruptcy?

How do you know when you should talk to an attorney? When is the right time to file for bankruptcy? Chances are, if you are thinking about bankruptcy, it is a good time to have a conversation with bankruptcy attorney Mark Zimmerman about your options.

At the Law Offices of Mark A. Zimmerman in Visalia, California, our attorney provides a complimentary confidential consultation where he will review your financial situation and discuss your options with you. He will make sure you understand the various options available to you, and he will advise you about the BEST options for your particular situation.

Talk To A Bankruptcy Lawyer Sooner Rather Than Later

Even if you think you may not yet be ready to file for bankruptcy, there are several benefits to talking to a bankruptcy lawyer now. First, our lawyer will educate you on the bankruptcy process and give you an honest evaluation of your situation. Second, there are several things you should not do when filing for bankruptcy.

Even if you are not convinced you need to file bankruptcy, doing these things could cause major problems for you in the event that you need to file. Once you have all of the information in front of you, you will be in a better position to evaluate your options. Talking to Mark Zimmerman will ultimately empower you to make the right decision for your family.

Signs You Are Ready To File Bankruptcy

The right time to file bankruptcy will be different for everyone, depending on the type of debt involved and each person’s income. There are several signs that will tell you that you are ready to file for bankruptcy. First, if you are juggling credit cards and “robbing from Peter to pay Paul,” it is probably time to file bankruptcy. Second, if you are unable to pay down your debt, and you are getting further behind each month, it is time to file bankruptcy. Third, if you have received a summons, judgment or garnishment notice from a debt collector, you should be talking to our attorney as soon as possible to protect your assets.

Top Three Mistakes People Make When Trying To Avoid Bankruptcy

People often go to great lengths trying to avoid filing bankruptcy. Unfortunately, because these measures are often only band-aid measures, they frequently do not address the underlying problem, and most people will end up filing bankruptcy anyway. The three most common mistakes are as follows:

  • Cashing in your retirement – DO NOT CASH IN YOUR RETIREMENT to avoid bankruptcy. What many people do not realize is that most retirement assets are protected in bankruptcy. These savings can be vital to your long-term financial well-being. Before cashing in your retirement, you should talk to our bankruptcy attorney about other options.
  • Payday loans – Payday loans can be tempting, especially when debt collectors are hounding you, but the interest rates on payday loans are very high, making them extremely difficult to pay off. What is worse. Payday loans are extremely aggressive about collection efforts. If you are looking at payday loans to make ends meet, it is time to consult with our bankruptcy attorney.
  • Hiding money in other people’s bank accounts – When bill collectors are threatening to levy your bank accounts and garnish your wages, it can be tempting to try and conceal money by hiding it in a friend’s or family member’s bank accounts. This can cause problems for both you and the person who is hiding your assets, especially if you decide to file for bankruptcy.

Get Answers To Your Questions Today. Call Now.

Worrying about debt is emotionally draining and stressful. There is help available. Get answers to your questions about bankruptcy and get a handle on your financial situation. Get legal answers from the Law Offices of Mark A. Zimmerman. With offices in Visalia, Hanford and now Delano, we represent clients throughout Kings, Tulare and Kern counties. Call us now at 559-702-6995 or reach our firm online.

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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.