Friday is undoubtedly one of the most popular days of the week. But did you know that Friday is the WORST day for filing bankruptcy?
If you’re thinking about filing for bankruptcy, it’s important to plan carefully in order to protect your assets and keep as many of them as possible.
Filing for bankruptcy is a complicated process that can be very confusing for anyone without legal expertise. When it comes to bankruptcy, what you don’t know can hurt you. Make the wrong step, and you lose thousands of dollars.
Even a tiny error on your legal documents can potentially send you back to the drawing board to start from scratch. Starting over costs time, money, and effort – not to mention the stress of the extended process.
Why is Friday the Worst Day to File?
Most of the people who file for bankruptcy on their own have no idea that the day of the week can make a big difference. But at the Pew Law Center, it’s our business to protect people as they go through the bankruptcy proceedings. And that’s why we never file on Friday. Here’s why:
On the day you file for bankruptcy, you are allowed to have $300* in your checking account as an exemption. The trustee is entitled to any money over this amount.
If you’re like most people, you get paid on Friday. Usually, payday is a great thing. TGIF! But if you file for bankruptcy on the same day that your paycheck hits your checking account – you can say goodbye to anything over $300. You will lose your paycheck right at the time that you need it most.
What You Don’t Know CAN Hurt You
Here at Pew Law Center, we’re in the trenches of bankruptcy, fighting to protect our clients. Years of experience have taught me that what you don’t know actually can hurt you – a lot.
I’ve seen do-it-yourself debtors cry in the courtroom after they realize that they are losing the money in their checking account. One woman broke down because she was counting on that cash to pay her bills – but she lost thousands. And the worst part is – she didn’t have to!
She tried to save money by filing for bankruptcy on her own. Who knows how many weeks or months she spent to prepare her bankruptcy petition – and how many headaches she had along the way. In the end, she did all that work and still lost a small fortune.
Do You Know the BEST Day to File?
Friday is the worst day to file for bankruptcy – but there’s also certain day of the week that is the very best day to file. Unless you’re an expert on bankruptcy proceedings, you probably don’t know what it is.
It’s information like this that makes filing for bankruptcy on your own a tricky affair. When you’re dealing with bankruptcy law, little details – like the day of the week you file – can have a very large effect on your finances.
Find Out the Best Day to File for Bankruptcy… And So Much More!
At Pew Law Center, knowing all those little details is our business. We’re dedicated to helping people just like you get out of debt. Are you ready for financial relief?
Download our free guide now: 6 Bankruptcy Myths that Could Destroy Your Finances (and What to Do Instead!)
Do you want to find out the best day to file? Please contact Pew Law Center today to arrange a free, no-obligation debt-free strategy session. Your brighter future is waiting.