What is a Bankruptcy Hardship Discharge?

Some people may wonder if there is a specific time you should file for
bankruptcy protection. Better yet, is there a good time to begin the filing process?
In most cases, it depends on personal circumstances in your situation.
Each person has different needs and this makes each case unique. Most
who file are seeking to obtain the relief they need to manage their finances.
In understanding whether you should file you should know how it will help you.

Talking with an experienced bankruptcy attorney in Dallas / Fort Worth
is likely the first area you may want to review. Other areas of concern
that may influence your decision to file include the ability to pay bills,
income, and getting clarity on which debts can be discharged. Speaking
with a bankruptcy expert can give clarity on whether you meet qualifications
to file, how to protect assets from creditors, and other necessary actions
you need to complete (credit counseling and financial management courses).

Filing for bankruptcy is an important step in gaining financial freedom,
but you want to be fully informed about your options before finalizing
details. There are different bankruptcy chapters you need to review and
know which one will provide the best solution for your situation. If you
are facing a lawsuit, bankruptcy may stop pending legal actions including
wage garnishment.

Other situations in which bankruptcy may be an option include pending
repossession,
foreclosure, or wanting the legal backing of the court system in developing a repayment
schedule with affordable payments based on your income. There are various
details to review prior to filing but the more you know, the more likely
you’ll receive favorable results.

Reference:
https://www.nolo.com/legal-encyclopedia/considering-bankruptcy.html

http://www.abc4.com/content/about_4/gtu/story/Is-There-a-Good-Time-to-File-for-Bankruptcy/GfDchDwH_0m3BU7fxLIl_g.cspx