8 Crucial Mistakes to Avoid When Filing Bankruptcy

#1  DO NOT CASH IN YOUR RETIREMENT ACCOUNT
This is a mistake that people make in an attempt to pay off their debts. Creditors can not touch your retirement account in a bankruptcy. Hold onto your retirement!

#2   DO NOT SETTLE DEBT WITH YOUR CREDITORS
In your good faith effort to pay off some of your debt, you may cause yourself to pay additional debts that could have been eliminated through bankruptcy.

#3  DO NOT MAKE LARGE PURCHASES OR CASH ADVANCES ON YOUR CREDIT CARD
WITHIN 90 DAYS OF FILING you may find yourself still responsible for those charges.

#4  ADVISE YOUR ATTORNEY WHEN YOU ARE EXPECTING A LARGE TAX REFUND
It may be used to pay your creditors.

#5  DO NOT REPAY FAMILY LOANS PRIOR TO FILING
If you have repaid family and friends shortly before filing, while neglecting creditors, the trustee could bring a suit against your family member to recover those funds.

#6 DO NOT TRANSFER PROPERTY OUT OF YOUR NAME
The court may view this as an effort to frustrate or hinder your creditors and ultimately avoid the transfer.

#7  DO NOT IGNORE PENDING LAWSUITS
Confer with an attorney to determine whether you need to respond to that lawsuit to protect your rights and or your property. A lawsuit continues to move forward until you file bankruptcy.

#8  DO NOT WITHHHOLD INFORMATION FROM YOUR ATTORNEY
Tell your attorney everything so that they can best advise you regarding your unique circumstances. If you do not fully disclose to your attorney, you are exposing yourself to major risks including loss of assets, dismissal of your case, and criminal charges. Your interest can only be protected with complete information. Consider ALL of your options and find a solution. If you believe that bankruptcy may be the best choice. You should seek legal advice.

BE INFORMED BE PREPARED and REGAIN CONTROL OF YOUR FINANCES TODAY!

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