When Do I Call a Bankruptcy Lawyer?

Labeling a lawyer a “bankruptcy lawyer” is a misnomer. The fears generated by the misperceptions lead to a strong feeling of not wanting to contact a “bankruptcy lawyer” for help and advice, ever.   Even the thought of consulting with a bankruptcy lawyer feels like admitting failure and defeat, when so many of our clients are looking for ideas and options, and a basic understanding of how the  bankruptcy process might work in their specific situation.

The misnomer is too bad, because consulting with a good so- called “bankruptcy” lawyer is nothing like you might expect, and does not mean that you will be filing bankruptcy any time soon, and maybe never.   Bankruptcy is not for everyone, and is often the last resort for a bad situation, one with many factors beyond any one person’s control, with many factors to consider.

Please don’t wait until you are facing lawsuits, wage garnishments, and foreclosure sales.  Please don’t wait until your car is repossessed, or your vendors have cut you off, or you can’t meet payroll tomorrow, or the IRS has levied.    These problems are not going to disappear, so the sooner you get up the courage to consult with a professional to go over all the options, before they reach crisis level, the better.   Call sooner, not later.


Laura Day DelCotto is the founding member of DelCotto Law Group. Her practice of law focuses on helping business owners rehabilitate or sell their companies. Outside of Chapter 11 bankruptcies Laura Day also dedicates her time to educating Kentucky municipalities on ways to avoid Chapter 9 insolvency.


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