Is there anything I shouldn’t do before filing bankruptcy?
Filing bankruptcy can be confusing to those who are unfamiliar with the process. You may wonder if there are any things you should avoid before filing bankruptcy. Certain things, while innocent in themselves, can be problematic if they are done before bankruptcy. Here are some things to avoid doing before filing for bankruptcy.
The first and most important thing to do is not hide information from your bankruptcy lawyer. Your attorney will not be able to do their job well if they don’t have all the information. Your lawyer will not judge you; they are there to assist. Your attorney will guide you through the bankruptcy procedure. Tell your attorney all about it, even if you are embarrassed. They can offer you advice.
Never borrow money or use credit cards. Some people believe, incorrectly, that if they are going to have their debts wiped out then they should use their credit cards. Some debts that were taken out within 90-days of filing bankruptcy may not be dischargeable. After you file for bankruptcy, it is in your best interest to stop borrowing or using credit cards. If you borrowed money from someone you know, you should avoid paying it back. If you pay them back, you could be putting them at risk, as the bankruptcy trustee may be able to reclaim any money you paid. Speak to an attorney before you consider selling or transferring property. You cannot transfer property to another person’s name in order not to include it in bankruptcy.
Also do not purchase a car, home or any other asset in someone else’s name. Don’t deposit money in anyone elses account or give money away. This can lead to problems for you and the other party.
Finally do not ignore any notices or lawsuits. Call a bankruptcy lawyer immediately if you receive a notice of a sheriff sale, foreclosure sale or any other lawsuit. They can advise you on your options. Call Now for a Free Strategy Session from a MN Bankruptcy Lawyer at LIFEBACK LAW FIRMS
These things are to avoid when you are considering bankruptcy. If you have made any of these mistakes, speak to a bankruptcy lawyer. They can help you choose the best course of action. If you have questions about bankruptcy and would like to do a free consultation to go over your options, visit
www.lifebacklaw.com
to speak with an attorney. You’ll be glad you did it!
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