13th Jan 2016


When is it time to file bankruptcy?  The answer to this question is not the same for everyone.  Sometimes, the right time to file may be prior to a scheduled foreclosure on your home so that you can save the roof over your head.  For others, it may be after a credit card company has filed a lawsuit and is threatening to garnish their bank account.  It may be when the car lender is seeking to repossess your vehicle.  The best thing you can do is file before you go through all of your life’s savings. gamf.net I’ve had many clients who cashed out their 401(k) to pay credit cards and then still had to file bankruptcy 5 or 6 months later after they had lost their retirement.  Don’t make that mistake.  Retirement plans are protected in bankruptcy.  Do not use this protected money to pay your unsecured debts.  The bottom line is that if you are struggling to keep up with the minimum amounts due each month, then it is probably time to meet with an experienced attorney to discuss bankruptcy.


With the wavering economy that we live in, there is a good possibility that you may, at some point, need help with your debt.  Bankruptcy is not the stigma that it was in the past.  Years ago, bankruptcy was considered to be the end of your credit life.  That is no longer the case.  For most people, it is possible to purchase a car within a year after the discharge in bankruptcy.  It may be possible to purchase a house within 2 years afterward as long as you have the income to support the supermarioworlds.com purchase.  Although a Chapter 7 discharge will be on your credit report for 10 years and a Chapter 13 discharge will be on the credit report for 7 years, it is not the end of your credit life.  You can and will recover.  Often, the discharge in bankruptcy actually increases your credit score as the debts are zeroed out, which improves your debt-to-income ratio.


Don’t struggle with your debts each month not leaving enough money in your budget to buy food and pay your utilities.  It is not worth it.  Properly caring for your family is much more important than paying anagazawe.com credit cards.  I offer a free consultation to discuss your bankruptcy options.  Please call me and we’ll set up a time for you to come and meet with me to discuss your possibilities.



If you would like to see if you qualify to file bankruptcy, please contact me at 281-847-4345 or email me at rkemsley@kemsleylaw.com to schedule a free consultation.

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