The holiday season is just around the corner. For many, this is a stressful time that consists of endless expenses, including food preparations, gifts, and more. If you are dealing with overwhelming debt and you are considering filing for bankruptcy, you might be wondering if you should wait to file or if you should do so sooner to get rid of your financial stress this season.
Filing for Bankruptcy During the Holiday Season
Bankruptcy laws are strict when it comes to making luxury item purchases before filing for bankruptcy. For example, if you are considering making extravagant purchases that total more than $625 within 90 days of filing for bankruptcy, your creditor may likely ask the court not to dismiss your debt. The same rules apply when taking out cash advances on your credit cards. Creditors can dispute any cash advances that are more than $950 within 70 days prior to bankruptcy.
For such reasons, we advise you not to wait after the holidays to file for bankruptcy. If you are already struggling with debt, you should get a head start to file and practice financial management during the holidays. Deciding to file for bankruptcy isn’t an easy task. It’s complicated, and navigating bankruptcy laws without experience can be frustrating, but an experienced attorney can help you.
Indianapolis Bankruptcy Attorneys
Bankruptcy is a debt solution that has helped millions of individuals across the country. At Jackson & Oglesby Law LLC, our bankruptcy attorneys know your rights and can help you take action to end and prevent debt problems. Regardless if you apply before or after the holidays, our Indianapolis bankruptcy lawyers are here to help you. We are devoted to providing compassionate guidance that can begin with a free bankruptcy evaluation.
Contact our Indianapolis bankruptcy lawyers today at (888) 713-5148 to schedule a consultation.