QUESTION
Should I file for bankruptcy if I lost my job?
Asked on Dec 27th, 2012 on Bankruptcy - Massachusetts
16 ANSWERS
Bankruptcy Attorney serving Columbus, OH
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The Needleman Law Office
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My name is Scott Needleman, owner of The Needleman Law Office. The decision to file or not file is dependent on your specific total financial picture. Also what are the chances for quick reemployment? The reason I have free consultations is to help you navigate and create a roadmap to get you out of your financial distress.
Answered on Jul 17th, 2013 at 1:10 AM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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Yes if you are eligible and no other options.
Answered on Jan 04th, 2013 at 5:14 AM
Tax Problem Resolution Attorney serving Lake Oswego, OR
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THE WUHRMAN LAW FIRM
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You haven't given enough information to allow a lawyer to know if bankruptcy is right for you. I suggest you contact a local bankruptcy attorney and seek an in-person consultation. Most bankruptcy lawyers will see you the first time for free.
Answered on Jan 04th, 2013 at 3:34 AM
You may want to consider it for sure, particularly if you have unsecured debt that you cannot repay.
Answered on Jan 03rd, 2013 at 5:10 AM
Bankruptcy Attorney serving Plantation, FL
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Moffa & Breuer, PLLC
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I only like to file cases for those whose lives are on the upswing not when they are unemployed. I also encourage my clients to have health insurance before filing.
Answered on Jan 03rd, 2013 at 5:03 AM
Depends to your situation, how much is your debt and how much do you have asset. If you have a high debt and there is no hope for employment for near future, I think bankruptcy is a good solution.
Answered on Jan 02nd, 2013 at 2:37 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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It depends on several things: the state where you live, the type of debts you are facing, the income that you have earned in the last 6 months, and what you need to accomplish by way of a bankruptcy. Please understand that filing for bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step.
Answered on Jan 02nd, 2013 at 2:19 PM
Business Bankruptcy Attorney serving Raleigh, NC
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J.M. Cook, P.A.
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Not necessarily. Filing for bankruptcy is a more complicated question than that as it has long term ramifications. Also, once you file and are discharged, you can't be discharged again for many years, depending on the Chapter of bankruptcy. So filing and then accruing a lot of debt due to unemployment could leave you saddled with that debt for a long time. As always, you need to talk to a competent bankruptcy attorney before making a decision. Many offer free consultations.
Answered on Dec 29th, 2012 at 7:10 PM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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Consult a lawyer skilled in bankruptcy. There are many considerations, including what your average monthly has been over the past 6 months, which could be determinative.
Answered on Dec 29th, 2012 at 7:07 PM
Just because you lost your job is not a sufficient reason in and of itself, to file bankruptcy. I am not saying that you can't file bankruptcy, or that you shouldn't file, just that I would need more information to advise you. In any event, you ability to qualify for bankruptcy is largely based on your earnings during the past 6 months, so if you just lost your job, right now, the numbers might not yet accurately reflect your true financial situation. If you need specific answers, I would urge you to meet with a local bankruptcy attorney.
Answered on Dec 29th, 2012 at 7:06 PM
Bankruptcy Attorney serving Buford, GA
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Kenneth A. Parker, PC
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It really depends on your individual situation. Feel free to call me for a free consultation and we can discuss your situation.
Answered on Dec 29th, 2012 at 7:01 PM
Chapter 13 Bankruptcy Attorney serving Winston-Salem, NC
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Love and Dillenbeck Law
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You need to speak to an attorney, most give free consultations. It is impossible to answer your question without knowing your whole story. Bankruptcy can help many people, but it can also have severe repercussions if used improperly or not times appropriately.
Answered on Dec 29th, 2012 at 7:01 PM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
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IN NJ; not enough info here to make a proper recommendation.
Answered on Dec 29th, 2012 at 6:56 PM
Insurance Attorney serving Redlands, CA
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Orrock, Popka, Tucker & Dolen
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Loss of employment and income is a common reason for seeking bankruptcy protection. However, there are many other factors to be considered before making the final decision to file a bankruptcy petition. Other common factors include type and amount of debt, size of household, other sources of income, type and amount of assets, prospects for regaining employment and income. The timing of when you file bankruptcy is an important factor to be considered as well. To get a better understanding of what you should do, please contact an attorney to discuss all of the factors. Then you can make an informed decision.
Answered on Dec 29th, 2012 at 6:55 PM
Appellate Practice Attorney serving Cheyenne, WY
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Lynn Boak Attorney at Law
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Filing for bankruptcy is a decision only you can make. It will ruin your credit for a few years, and you may find another job in the meantime. Potential employers will often check to see if you have filed bankruptcy, and it can mean you don't get offered the job. Also, some debts cannot be discharged, such as child support and student loans. You need to consider the cost to you against the benefit, and oftentimes it won't be worth it.
Answered on Dec 29th, 2012 at 6:44 PM
Business Attorney serving North Andover, MA
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Law Offices of Andrew D. Myers
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Here's the deal: you need to provide a lot more specifics.
Answered on Dec 29th, 2012 at 6:35 PM