Should I file bankruptcy with more debt to come? 7 Answers as of October 12, 2010

I just lost my job and know that I am going to slip even further into debt. Is it a good idea to file bankruptcy even though I expect more debt to come or should I wait?

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Law Offices of Michael J. Berger
Law Offices of Michael J. Berger | Michael J. Berger
This question requires a complete analysis of the facts and circumstances of your case. Please call me for a free consultation.
Answer Applies to: California
Replied: 10/12/2010
Builders Law Group
Builders Law Group | Nick Campbell
This is a tough question to answer without knowing more facts. I am sorry to give you the "lawyers answer" but there are a LOT of variables we would need to know to be able to give you a more helpful response. For instance, is there an immediate or "emergency" need that suggests you should file now rather than later? How much is the "more debt to come, etc." I strongly suggest you consult with a bankruptcy attorney who can review your information and documents and give you a more informed response.
Answer Applies to: California
Replied: 10/12/2010
Greifendorff Law Offices, PC
Greifendorff Law Offices, PC | Christine Wilton
The worst thing you can do is incur more debt shortly before filing bankruptcy because this could constitute fraud. When you incur debt, you are signing your name that you intend to repay that debt. Also, once you file bankruptcy, your credit will be shut down. Cut your lifestyle and budget as best you can and file bankruptcy sooner rather than later. Call your local bankruptcy attorney for a consultation and determine the best timing for you.
Answer Applies to: California
Replied: 10/12/2010
Law Offices of Steven A. Wolvek
Law Offices of Steven A. Wolvek | Steven A. Wolvek
It depends on the type of debt you are expecting. As a general rule, I like to wait until all the debts have been incurred before filing.
Answer Applies to: California
Replied: 10/11/2010
Sussman & Associates
Sussman & Associates | Mitchell Sussman
No, wait till you are ready to go back to work.
Answer Applies to: California
Replied: 10/11/2010
    Diefer Law Group, P.C.
    Diefer Law Group, P.C. | Abel Fernandez
    It is important for you to know that it is against the law to incur any debt you do not intend to pay. So, I cannot advice you to wait so you can include debt you will incur later.
    Answer Applies to: California
    Replied: 10/11/2010
    The Law Office of Mark J. Markus
    The Law Office of Mark J. Markus | Mark Markus
    That question can only be answered after having a comprehensive consultation with a bankruptcy attorney. There are too many factors to examine for this kind of forum.
    Answer Applies to: California
    Replied: 10/11/2010
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