Timing is important in filing a bankruptcy. Although you may have significant debt, you may also have significant assets that may not be protected if you file right away. Also, if you expect to incur more debt in a relatively short period of time (often medical bills), it is best to wait until after you are on the hook for the bills. However, it is never the wrong time to contact a bankruptcy attorney (like me, of course) to get a free consultation that may help you plan accordingly. You want a fresh start from your bankruptcy—you don’t want to get a discharge and then find out you have even more debt you have to deal with.
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