When Should I Consider Filing Bankruptcy?
Sound Advice About Bankruptcy Timing
When you file bankruptcy can make a big difference in the amount of property you can retain and the taxes you owe. For example, federal tax debts more than three years old are generally dischargeable in bankruptcy, so you may wish to time your bankruptcy filing to take advantage of this provision.
At the law firm of Minnillo Law Group Co., LPA, we provide advice regarding these and other matters. If bankruptcy is right for you, we can help you time your filing to protect your assets and interests to the fullest degree possible.
In bankruptcy, as in other legal matters, the sooner you talk with an attorney, the better. In a free consultation, an attorney at our firm can review your situation and provide the guidance you need.
Contact us today to schedule your free initial consultation.
If you are threatened with an imminent foreclosure, a creditor lawsuit, utility shutoff or another crisis, we can file an emergency bankruptcy petition. This places an automatic stay on any creditor actions. Call us today.
Cincinnati Bankruptcy Planning Attorneys
Some of the many reasons you may wish to delay a bankruptcy filing include the following:
- You may wish to pay off certain creditors (such as family members) so that they get paid before your other creditors.
- Delaying bankruptcy may enable to discharge additional tax debts.
- You expect your marital status to change.
- If you expect to get a tax refund, delaying bankruptcy can enable you to use the tax refund for your benefit.
There are many more reasons for delaying bankruptcy. However, you need to understand that the bankruptcy trustee can set aside certain transfers of property. You could even be charged with bankruptcy fraud if you are not careful.
Even if you do plan on postponing the actual filing of your bankruptcy, you should speak with an experienced bankruptcy attorney as soon as possible. Minnillo Law Group Co., LPA, can provide you with sound advice regarding bankruptcy planning and other matters.
Contact A Lawyer
For a free initial consultation about bankruptcy planning, contact Minnillo Law Group Co., LPA. We have three offices in the Cincinnati area. Evening and weekend appointments are available.
We are a law firm and a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.