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Bankruptcy Law Blog

Thursday, July 30, 2020

Clock Management Matters Just As Much In The Court System As It Does On The Basketball Court

NBA games last 45 minutes. While the clock may stop and start multiple times, the amount of time players are on the court shooting hoops is precisely regulated. Baskets made during a pause in the action, or after the clock runs out, simply do not count.

In the legal world, clock management matters just as much as it does on a basketball court. Debts you accumulate after you file for bankruptcy, even while your case is pending, cannot be forgiven. They are like shots taken after the buzzer has sounded.

It is therefore important to consider carefully the timing of your bankruptcy filing. It may be tempting to file as soon as you lose your job, or get a big medical bill in the mail, but it is important to think about whether this is the worst things are going to get.

Why Timing Is Everything in Bankruptcy

Filing for bankruptcy should be a turning point — the turnover that allows you to make the come-from-behind winning shot. Things are bad, you don’t think they can get any worse, so you file for bankruptcy and get your life back on track. Bankruptcy should not be a temporary time out after which you keep digging yourself into a deeper hole.

At Padgett & Robertson, we can be your bankruptcy coach. We will help you determine if the timing is right for you to file for bankruptcy. We will review your financial documents with you, and help you develop a winning game plan. Together, we will figure out if you are at your low point, or whether it may be best to wait a few months to file. We know the waiting is painful, but it is a small price to pay if you can come out the other side of your bankruptcy case in a better position than you would be if you filed right away.

Our experienced attorneys can also advise you how to manage your debts while you wait to file your case. In the current financial climate, creditors are willing to cut deals with debtors who are unable to make their payments in hopes of recouping some of the money they are owed. It may be possible to negotiate lower monthly payments, lower interest rates, or even get some of your debt forgiven. Sometimes these negotiations go so well bankruptcy can be avoided all together.

The Padgett & Robertson team is here to help Mobile area residents take full advantage of the benefits our nation’s bankruptcy code offers debtors. We aren’t a bankruptcy mill that is churning through clients as quickly as possible in order to make a quick buck. We truly care about our clients, and want to coach them through what is often a life-changing process. If you are considering filing for bankruptcy, please contact our office to schedule a free consultation with a member of our experienced team.


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Padgett and Robertson assist clients with Bankruptcy, Personal Bankruptcy, Consumer Bankruptcy, Chapter 7 Bankruptcy, Chapter 13 Bankruptcy and The New Bankruptcy Law in Mobile, Alabama and throughout southern Alabama. Alabama State Bar Association Regulations require the following: "No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers." 11 U.S.C. 528 of the U.S. Bankruptcy Code requires the following: "We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.”



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Alabama State Bar Association Regulations require the following: "No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers." 11 U.S.C. 528 of the U.S. Bankruptcy Code requires the following: "We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.”