Do you plan to file for bankruptcy after the first of the year?
Many of our clients want to put their filing off until after the holidays because they prefer to spend this time concentrating on friends and family rather than their financial problems.
When you’re busy planning for the holidays, carving out time to consult with a bankruptcy attorney may be difficult. But filing now could be the key to a stress-free holiday season.
File for Bankruptcy to Stop Collector Calls During the Holidays
Are you tired of the constant phone calls from bill collectors who try to badger you into making payments you can’t afford, or who leave threatening messages?
The very day you file a bankruptcy petition, all of that stops.
An automatic stay goes into effect, which prohibits your creditors from continuing their debt collection efforts. The automatic stay also protects you from repossessions, foreclosures, property attachments, wage garnishments and utility disconnections. In some cases, the protection is only temporary, but a break from creditor harassment is welcome during the holiday season.
And you’ll have the peace of mind of knowing that behind the scenes, your bankruptcy attorney is working on your case.
File for Bankruptcy to Stop Holiday Overspending
Are you tempted to overspend on gifts this holiday season, then file a bankruptcy claim after the first of the year? This is not a good plan, as racking up new debt right before filing can harm your case.
We strongly recommend that you avoid large credit card purchases and cash advances within the 90 days prior to filing your bankruptcy claim. If you spend lavishly on your holiday gifts, your creditors could accuse you of fraud. If that happens, the bankruptcy courts could deny a discharge of those debts.
It is equally unwise to fund your holidays with a new home equity line of credit or a loan against your retirement plan, as either of these options could also become an issue in your bankruptcy case.
Your creditors and the courts will scrutinize your pre-bankruptcy spending. You can avoid the temptation to overspend by filing a bankruptcy claim now, before the holiday (spending) season starts.
File a Bankruptcy Claim Now for a Fresh Start to the New Year
Filing for bankruptcy before the holidays means you can start 2017 with a clean financial slate, without the immense weight of debt holding you back.
You’ll be in a good position to keep a New Year’s resolution to manage your spending.
Imagine how nice it will be to start the year knowing that you are working toward a debt-free future. Get the ball rolling now, and you can be on a solid financial track for 2017.
Is it time for a fresh start? The attorneys of Lewis Adams & Associates can answer all your questions and assist you in deciding the right course of action for you. We are located in West Jordan, Utah, serving clients throughout northern Utah. Contact us today to learn more about the ideal timing for you to file for bankruptcy in Utah.