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When is it time for me to file Bankruptcy?

            This is probably the question I get asked the most.  As a general rule, my advice has always been to file Bankruptcy to stop a creditor from taking something away, like a car being repossessed or a house in foreclosure or wages being garnished.  It is not a good reason to file for Bankruptcy simply because you cannot pay your bills.  If you don’t have anything to lose, there is nothing to be gained by spending the money or the time to file for Bankruptcy.

            Also, people should not file for Bankruptcy during a “downward spiral.”  Any debt incurred after the filing of the Bankruptcy won’t be discharged and you will remain liable for debts incurred after a Bankruptcy is filed.  If you are in the middle of medical care and will have more bills, you should wait to file.  If you are still incurring debts because you are temporarily out of work, wait as long as you can to file since you may be forced to incur more debts to pay for necessities during this crisis.

            Parker Schwartz has attorneys with many years of experience in Bankruptcy and Lawrence Hirsch is a Certified Bankruptcy Specialist.  We can help you navigate through these difficult and challenging waters.  

This article provides general information about certain legal topics. The law, however, changes quickly and varies from jurisdiction to jurisdiction. None of this information should be used or relied on as legal advice or opinion about specific matters, facts, situations or issues. You should consult a lawyer about your particular circumstances before you act on any of the information contained in these pages because the information may not apply to you or your problem or may not reflect current legal developments.

Please contact Larry Hirsch at 602-282-0472 or at for more information.