When should I file bankruptcy?

Transcription:
00:03 hi my name is Robert Geller and I am
00:06 with the loss of Robert M Geller PA we
00:09 are a consumer bankruptcy law firm and
00:12 today I want to talk to you about the
00:16 when I should file bankruptcy and timing
00:19 in bankruptcy filing bankruptcy is
00:23 really pretty much everything let’s talk
00:25 about that you don’t want to wait too
00:28 long to file bankruptcy meaning you
00:31 don’t want to wait until you’ve depleted
00:33 your retirement or you’ve spent every
00:38 penny you have in your savings
00:40 unfortunately I’ve seen too many clients
00:42 come in my office that I could have
00:45 helped years and years before that and
00:47 they have you know depleted all their
00:50 retirement so it in a lot of cases it’s
00:54 better that they come in the office as
00:56 soon as possible for a consultation
00:58 couple of the things about timing for
01:00 bankruptcy there are eligibility for
01:03 bankruptcy with regard to your income so
01:08 you just lost your job you’ve been out
01:10 of work for a few months
01:12 you’re now three or four months out of
01:14 work and you’re wondering what you
01:17 should do and now you’re just start
01:19 living off your savings and you living
01:22 off your savings and you’re living off
01:23 your savings and finally you get to a
01:27 point where you get a job offer and the
01:31 job offer pays you a decent salary but
01:36 you know it’s not going to take you a
01:38 long long time to pay off your debt that
01:40 may be the wrong time to come into the
01:43 office to file bankruptcy because with a
01:46 regard to a chapter 7 you may not be
01:48 eligible because now you’re making too
01:51 much income and you’ve just depleted all
01:54 of your assets so you may be required to
01:56 file a chapter 13 only because you
01:59 waited way too long and you’ve depleted
02:01 all your savings so sometimes it’s
02:04 better to file bankruptcy are all arity
02:07 now on the other hand sometimes it’s
02:10 better to wait to file bankruptcy
02:12 let’s just say that you’re expecting
02:16 that you’re going to be working for a
02:19 few years and then you’re gonna go into
02:21 retirement and your retirement income
02:23 may be much less and unfortunately you
02:26 see a bunch of medical bills coming down
02:28 the horizon well then you may want to
02:31 consider waiting the file but obviously
02:34 you can come in for a free consultation
02:36 and we can kind of give you the advice
02:38 as to what would be best as far as your
02:42 timing is concerned timing is also
02:44 really important if you’re trying to
02:45 avoid a foreclosure I’ve seen
02:47 unfortunately people wait too long to
02:50 file a bankruptcy and they’ve come in my
02:53 office
02:54 after a foreclosure sale and they wanted
02:56 to save their home and it’s way too late
02:58 because once a foreclosure sale occurs
03:01 pretty much it’s impossible to reverse
03:04 the foreclosure the bankruptcy would
03:06 have to be filed before before the
03:10 foreclosure happens so or for example
03:14 you’ve had your property taking that’s
03:16 certainly long
03:18 that’s certainly waiting too long so
03:21 please consider the timing don’t wait
03:24 too long to file bankruptcy always come
03:27 in and get your free consultation for
03:30 more information about bankruptcy you’re
03:32 welcome to click on the link on this
03:34 screen and we’ll be able to give you
03:37 free information again my name is Robert
03:40 Geller and I want to help you build a
03:42 bridge to a brighter future