Hello, my name is Andrew Griffin and I’m a bankruptcy lawyer in the San Diego area And today I want to talk to you about whether you shouldn’t wait to file bankruptcy If you have questions about timing of bankruptcy, give me a call at the number little Oh And we’ll be able to talk to you a little bit about on the phone Sometimes people wait too long. I asked many people who come to my office seeking Baker for your advice. Why did you wait so long? Now I understand that very few people want to file bankruptcy and I agree that the decision to file bankruptcy is an important one Now it is common to hear that bankruptcy should be a last resort. It is also true that you can wait too long Now here are some problems that might crop up if you wait too long to file bankruptcy One you exhaust your reserves. This is probably the most common consequence of just hanging on too long Trying to avoid bankruptcy you’re trying to keep what the mortgage payments trying to keep up with the credit card payments after dropping a job loss or illness or divorce or like and you exhaust your savings you tap into your 401ks you you tap into your IRAs and you incur taxes and penalties as well, which makes the whole final? situation still worse You use up theories resources that would make it easier to make a fresh start and make it harder to recover financially It is easy. I’m probably natural to just to try to hang on and keep doing what you have always done but it’s Marter to take an honest look at your situation and ask yourself whether you are going to be able to deal with the debt without Some help You may lose control of your assets that might otherwise be used to help you make that fresh start That is often the case when predators sue you and often obtain judgments against you a Judgment can become a lien against your property which can be especially significant if you have investment in property or inherited property or god forbid you’re holding on titled the Of family property just to keep it safe The effect of a judgment on property depends on several factors including where the property is located Whether you’re entitled to claim it is exempt and even what state you’re in But you shouldn’t wait until it is a done deal to figure out what the effect will be at that point It may be too late Other issues can be decided in a lawsuit that will affect your ability to make a fresh start The amount of a debt may also didn’t be determined to be higher than you anticipate for Example by addition of attorney’s fees and expenses that increases your debt Or the court may enter a finding of fraud against you that will allow a debt to survive bankruptcy Once findings may also other findings may also impact your fresh start as well and if you’re already in financial distress You may find that this is prohibitively expensive to fight a lawsuit or worse several lawsuits Don’t wait until the bitter end to consider bankruptcy and seek out competent legal advice about your bankruptcy options You might you might think if you go to see a bankruptcy lawyer, the lawyer is automatically going to recommend bankruptcy But that is not always the case most reputable bankruptcy attorneys are also Knowledgeable alternatives and will advise you about those options as well. I tell you what may happen If you do nothing, I regularly advise clients against valid bankruptcy and sometimes that advice is because there is nothing left to protect You have nothing to lose and quite a bit to gain by talking to someone as soon as you recognize that There is a problem if you wait too long There may be no other options if you need more information about filing bankruptcy Click on the link below or call us at the number below and we’ll be happy to provide you more information My name is andrew Griffin and I wanted to help you by relieving the financial burden that you’re in you