As a Chicago bankruptcy attorney, I will often hear the question when should I file a bankruptcy? Well that depends on what is going on with you. Waiting can be in your favor, but in most cases it is not in your interest to wait. If you are getting garnished and have more creditors that you cannot afford to pay then generally it makes sense to file a bankruptcy at that time. If you are experiencing financial hardship such as a loss of a job, medical debts are piling up, or you are going through a divorce, and/or you are not getting anywhere with your debt it is time to talk to a Chicago bankruptcy lawyer such as myself. The last thing you generally want to do is take money from your 401K or IRA to pay debt, because it is protected in the bankrutpcy code.

When a person comes into my office for a free consultation I go through all of their options. Sometimes bankruptcy makes sense and sometimes it doesn't it really depends on your circumstances. In some circumstances bankruptcy is persons the best option. Whether it is a Chapter 7 or a Chapter 13 bankruptcy that the person chooses. I offer good old fashioned legal advice and my consultation is free. Please call my office if you are experiencing financial difficulties at 312-489-8182.

Marc Wagman

Attorney at Law