Why should I file a Preemptive Bankruptcy?

The following are situations in which someone might want to consider bankruptcy as an option when faced with litigation where:
• the outcome is not likely to be favorable;
• the cost of defense is crippling;
• the possibility of a judgment in excess of the Chapter 13 debt limits; or
• findings of fraud are likely.
Waiting until the end of the litigation may be too late for relief in bankruptcy from adverse consequences.  However, as with all such matters, consulting a Bankruptcy Attorney early in the process is the best idea. More information on Utah Bankruptcy can be found at www.dlblaw.com

 

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