A sudden and terrible financial emergency creates a delicate situation where common people subliminally entertain whether filing bankruptcy is a good option to get under the problem. Most people who have money reserves or have a job do not usually perceive bankruptcy as a best option since the emergency may be usually withstood with some tightening of spending or perhaps some overtime. For those with no savings or job, bankruptcy relief under most emergency situations is more attractive instantly.
The looming Covid-19 pandemic has many people thinking proactively as the potential loss of a job, the unknown of having the financial burden of a hospital stay without insurance, and the lack of a possible antidote make the situation almost impossible to gauge as to when things may go back to normal. For many, job loss and creeping unpaid bills are a harsh reality.
As a bankruptcy attorney interviewing people on a daily basis, it seems that many people are indeed worried, staying at home, saving for the unknown if possible, or are using the little reserves that they may have to continue scraping by. The subject of this short blog is to provide people with a solid legal reason they may want to file for bankruptcy debt relief today: YOU MAY NOT QUALIFY FOR BANKRUPTCY RELIEF LATER.
Most bankruptcy lawyers understand that most consumers who solicit them want to file a chapter 7 bankruptcy case where all dischargeable debts are eliminated. Bankruptcy counsel cannot choose what type of bankruptcy is filed for you. In any place, in South Florida, Miami-Dade, Miami or Hialeah, the bankruptcy lawyer must qualify a potential bankruptcy filer by considering their income, their reasonable expenses and their corresponding expenditures as a variable of their use of credit. If you are experiencing job loss, furlough or shortened hours, come to our office to have a free consultation NOW.
We all want you to have a job, and to keep your job, but if you wait to get your job back to file bankruptcy, you may not be able to file a chapter 7 and you may have to file a chapter 13 which is bankruptcy plan which involves payments to the creditors based on your ability to pay. If you have lost your job and you have bills that you cannot pay, consider your options with a bankruptcy attorney sooner than later.