Wait a minute, should I really file a petition for bankruptcy?

My old law school professor once invoked an "old Chinese proverb:" avoid a lawsuit, like you'd avoid the plague. A petition for bankruptcy is not exactly a lawsuit, but it's a legal (read: unduly complex) matter and it can incorporate lawsuits.

Sometimes you have to step up notwithstanding a plague's inherent unpleasantness.

There are certainly alternatives to bankruptcy. . . like doing nothing when you've no address and nothing to lose.

Most people, however have much to lose.

When you're in the pressure cooker and debt is what's for dinner, it's time to take inventory. You need to be informed whether bankruptcy is advisable and whether it's an option. If it is an option, you must retain that option. Certain purchases and transfers prior to filing are

presumptively fraudulent and undermine the process. Time is of the essence. Waiting too long to get information is the difference between redemption and failure.

Whether or not bankruptcy is merited, the time calls for a decision. In the end, that decision might mean do nothing. Yet, even inaction should result only after all the facts and possibilities are looked into. An experienced attorney should advise whether bankruptcy is your best option, what the alternatives are and what actions you should take and avoid.

If you're in dire straits, it is worth your while to contact a bankruptcy attorney for a free legal consultation.