The Best Time of Year to Consult a Bankruptcy Lawyer in Prattville, AL

Many people who seek help from a bankruptcy lawyer in Prattville, AL, have been considering this option for a long time. You may have been delaying because you have wanted to avoid taking this step. As you think more seriously about beginning the process, you might wonder whether there are advantages to filing at certain times of the year.

Paying Fees With Tax Refunds

If you will be receiving a tax refund from the Internal Revenue Service or the state Department of Revenue, you could use those refunds to pay the bankruptcy lawyer in Prattville, AL, and court fees. You may be so strapped for cash at this point that even paying these fees would be a struggle.

It’s important not to file before receiving a tax refund since the bankruptcy trustee garnishes a portion of that money for payment to creditors. Although Chapter 7 essentially eliminates outstanding debt that qualifies under the program, some assets you still have may be used to pay back some of that money.

In fact, spring is the most common time for Chapter 7 filings for this very reason. That tax refund makes the process more affordable.

Recently Acquired Debt

Recently acquired debt does not qualify for Chapter 7 since the trustees want to be certain nothing fraudulent is going on. This may affect your decision about when to file. Cash advances from credit cards as well as installment loans acquired within a certain number of months prior to filing for bankruptcy will not qualify. A bankruptcy attorney can provide specifics.

You may schedule a consultation with David Weston, Attorney at Law and get more information at