Columbia, MO asked in Bankruptcy for Missouri

Q: At what point would it be "too late" for a person to file for bankruptcy?

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2 Lawyer Answers
Cary Nathan
Cary Nathan
Answered
  • Bankruptcy Lawyer
  • Ozark, MO
  • Licensed in Missouri

A: There is no such thing as "too late" under the bankruptcy code. Sometimes you will hear people use this terminology after a home has been foreclosed on or a vehicle repossessed because, at that point, it is too late for the bankruptcy stay to stop the secured creditor from taking the property. If this example covers your particular situation, then you have your answer. Otherwise there is no way to answer your question without more specific details.

Timothy Denison
Timothy Denison
Answered
  • Bankruptcy Lawyer
  • Louisville, KY

A: After your assets have been seized by your creditors.

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