Can Filing Bankruptcy After the New Year Be Better for Me?
What time of year is best to file bankruptcy? Many people choose to file at the beginning of the year as opposed to other times. There are advantages to doing so based on your situation. An attorney at a Mobile AL bankruptcy law firm can advise if this is the best option for you. While there are advantages to filing at the beginning of the year, the terms of the bankruptcy repayment must be adhered to. Failing to do so can result in financial consequences for you. When you work with the Loris Law Firm, our attorneys can advise you of the best next steps.
Should I File at the Beginning of the Year?
This question can be answered once the benefits of doing so are examined. Many people opt to hire a Mobile AL bankruptcy law firm and file in the beginning of the year because:
•They are not liable for tax debt until the next year. Many people will wait so that they don’t have to make tax payments right at the present moment.
•They want to add holiday debt to the petition. Some people want to include the purchases they made during the holidays in their petition, so they wait for the new year to do so.
•They want to start the year on a clean slate. Simply put, some people want to go into the new year with getting their debt situation taken care of and building from there.
No matter the reason for filing in the new year, it is important to hire an attorney. A lawyer can let you know how feasible it is for you to file bankruptcy in the new year and any other factors you should be aware of.
Once you are ready to get started, contact the Loris Law Firm to learn how we can help you.