Top-Rated Bankruptcy Attorney Bryan Keenan Reveals Why You Should Consider Bankruptcy Now And Not Later - Pittsburgh, PA

Leading bankruptcy attorney Bryan P Keenan, founding partner of Bryan P. Keenan & Associates in Pittsburgh, PA, outlines why not considering bankruptcy in the short term could lead to bigger challenges in the future. For more information please

In a recent interview, leading bankruptcy attorney Bryan P Keenan, founding partner of Bryan P. Keenan & Associates in Pittsburgh, PA, revealed why it’s better to consider bankruptcy now and not later.

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When asked for a comment, he said, "The global pandemic has capsized the economy, leading to an unemployment rate that we've never encountered before. This means that bankruptcy is the best option for so many. Here are a couple of reasons why it's better not to put bankruptcy on the back burner and consider it now."

Waiting times in filing and resolving a bankruptcy case could be shorter if completed now, not further down the line during the corona pandemic.

When asked to elaborate, he said, "Many bankruptcy attorneys such as myself are predicting that because of COVID-19, there will be a massive influx of new bankruptcy cases as more and more Americans lose their jobs and struggle to pay their debt. This is likely to lead to a backlog of cases which could ultimately prolong the relief provided by bankruptcy.”

Avoiding misleading financial advice, such as leaving bankruptcy as a last resort, could be remarkably unbeneficial in the long run.

"If you're speaking to a financial advisor about what to do after landing in troubled financial waters, they will typically advise you to exhaust all your options before filing for bankruptcy. However, those who opted to file early are the ones who tend to exit the bankruptcy process the least scathed," he commented.

"Poor financial advice often leads many to take money from their retirement funds to help pay back debt, for instance. However, if you end up filing for bankruptcy, the funds in your retirement account will be protected and cannot be touched by creditors," he added.

Another big takeaway is that Chapter 7 may not be available to you if you wait too long to file due to your income improving.

In this way, speaking to a bankruptcy attorney right off the bat can provide essential guidance for this type of situation.

"Consulting an experienced bankruptcy lawyer is a great first step to take, especially considering that most offer free initial consultations. Even if you are not currently in debt but have suspicions that you might not be able to pay something off, then you should still seek legal advice before matters get worse," he said.


Contact Info:
Name: Bryan Keenan
Email: Send Email
Organization: Bryan P. Keenan & Associates
Address: 993 Greentree Rd #101, Pittsburgh, PA 15220
Phone: 412-922-5116

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Release ID: 88978229