If you are in a difficult financial situation, don’t fool yourself into thinking that your situation will be changing if there is no evidence of future cash flow coming in soon to resolve your situation. If you are unemployed and do not have any prospects in the future, you need to explore a new solution. If you are currently employed yet still cannot afford to keep up with your bills, bankruptcy may be the best solution for your future. If you are current on all your bills, but you can see that next month will be impossible to afford to pay all your bills, get information on bankruptcy from your local bankruptcy attorney. At least make a phone call to explore your options. It is better to get the solution started rather than postpone the solution and get yourself in a worse situation. Here’s why it matters.
When you file for bankruptcy, everyone knows there is definitely an impact on your credit record, but filing earlier without being late on all of your payments may leave you with an easier path to repair your credit. If you have months or years of unpaid credit payments and other bills, your late payment history will remain on your credit record along with any other negative marks to make it more difficult for you to recover from it. If you continue to pay while you can afford to pay your bills and have less negative marks previous to a bankruptcy filing, it may be much easier for you to recover from the credit profile impact of a bankruptcy and late payments. The bankruptcy will help you recover from your credit issues because it will wipe out all of your unsecured debts in one swift discharge of all the debt. These debts will no longer be collected upon by your creditors.
So, if you are not yet behind on payments, it does not mean that you should wait until you are several months behind. You can file for bankruptcy now if you realize that there is no other option in the future. Waiting to get your bankruptcy filed is just postponing the inevitable and postponing a recovery from your financial situation. In summary, the sooner you get filed, the sooner your credit will repair itself from difficult financial times. When you are back into a normal income situation, you will be able to recover faster and live a normal life.
Bankruptcy Law Professionals is a Southern California Bankruptcy Law Firm with offices in Riverside and Orange County. Contact us at 855 257-7671 for a free consultation with out attorneys by phone or in-person.
