Multiple Reasons Why Now Could be Best Time to File Bankruptcy
Video Transcribed: Bankruptcy Attorney Edward Kelley here at Wirth Law. I’m not looking right at you because I’m in the car.
We are going to take a break from our series about debts you can get rid of right away to address this crazy hysteria situation with coronavirus aka Covid-19, and why this is probably the best time for you to file bankruptcy.
A couple of reasons: number one, which you may not know, all bankruptcy is e-filed and 341 meetings, that’s your little creditor meeting, can be held telephonically in these kind of circumstances. I know one trustee has already reached out and set all of his to be done by telephone until further notice.
Bankruptcy filings have not been interrupted, so the only meeting you’ll have to make is with your attorney to get your original signatures and to go over your petition and make sure that everything’s correct.
Second big reason: so, if you’re surrendering property, if you’re entering into new credit agreements… From everything that I hear from my banking friends, mortgage rates are crashing… So, if you’re looking at any kind of reaffirmation where you are in any position to negotiate terms, if you’re looking at interest rates on a vehicle, or just after you…
Mainly once you’re done with your clean slate to start over, we are now in a period where you’re going to get as good mortgage rates, probably other interest rates, as you’re likely to find. So as always, reach out to me 1-888-Debtline, give me a call. Edward@wirthlawoffice.com, and also our Facebook group at Oklahomans for Debt Relief. Hope this has been helpful. Hang in there.