Susanne Robicsek and I must be lawyer twins, separated at birth. She suggests that those with financial troubles consult a bankruptcy lawyer sooner rather than later. Amen.

Countless times a caller has asked me, should I wait until all of my savings are gone to file bankruptcy? And these folks didn’t mean, until my net worth is greatly reduced; they meant, until my bank balance is zero.

One has to admire the resolve of those who propose to pay on debts that they can never repay up to the point when they literally have nothing left. My advice of course is “no”.

Bankruptcy allows you to keep a collection of assets necessary for a fresh start. There is no bankruptcy entrance requirement that you be destitute or even insolvent to file bankruptcy.

So often I wish clients had come to me earlier: before they borrowed against their retirement to pay credit cards; before they took bad home loans that imperil their home; before they borrowed from one credit card to pay on another.

Susanne is right: it can never hurt, and often help, to get sound advice as soon as you realize you have a problem.