When Should I File Bankruptcy?

Many people ask us when it is time to consider bankruptcy. There is no one answer that is right for everyone. If you have reached the point where you can’t pay your bills when they are due, it’s time to talk to a bankruptcy lawyer.

I am Cherry Hill, New Jersey bankruptcy attorney Joel R. Spivack. I dedicate my entire practice to helping people seek debt relief through Chapter 7 and Chapter 13 filings. With more than 30 years of experience practicing exclusively in the area of bankruptcy law, I am in a strong position to advise you on when you should file bankruptcy.

The following are examples of times when you might want to consider bankruptcy:

  • You are thinking of dipping into your retirement savings to pay bills. If you file bankruptcy, you can get rid of debts and keep your retirement savings.
  • You are behind on your house payments. If you discharge other types of debt, you may be able to get caught up on your mortgage and keep your house.
  • You lost your job. Before you deplete your savings, consider bankruptcy as a way to get rid of debt.
  • You are going through a divorce. Depending on your situation, there may be advantages to filing before or after your divorce is final.
  • Your car was repossessed. If you file promptly, you may be able to get it back.

Many people wait too long to file bankruptcy, borrowing money from relatives and depleting savings just to kick the can down the road for a few months. The disadvantage of waiting is that you can waste assets that you could have saved by filing bankruptcy earlier. By filing sooner, you can discharge your debts and keep more of your hard-earned dollars.

Schedule a Free Initial Consultation with a Cherry Hill Bankruptcy Attorney

If you can’t pay your bills, it’s time to talk to me, Cherry Hill bankruptcy lawyer Joel Spivack. My regular business hours are 8 a.m. to 5 p.m., Monday through Friday, and free parking is available. You can reach me by phone at 856-488-1200 or via e-mail.

To read more about bankruptcy frequently asked questions, click here.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

We are here to help you.

Is this a New Jersey matter or Philadelphia Region matter?
We are licensed to practice in New Jersey and Pennsylvania.

Attorney Joel R. Spivack is an experienced bankruptcy and residential real estate transactions lawyer in Cherry Hill, New Jersey. Clients come to us for legal services, but what we really provide is peace of mind. For more than 30 years, Attorney Spivack has helped people make wise, informed decisions about bankruptcy filings, debt relief options and residential real estate transactions.
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