Bankruptcy Filing Mistakes

BANKRUPTCY FILING MISTAKES USING THE WRONG FUNDS TO PAY THE DEBT Allow the attorney to help you file for bankruptcy and have your debt dropped in the proceedings rather than pay it down with other funds.

TRANSFERRING ASSETS BEFORE FILING Transferring assets may look like you are not being honest and tampering with the facts. Evidence of hiding assets can deny your bankruptcy.

OMITTING ASSETS FROM PAPERWORK Concealing assets can lead to further problems with your creditors and even seize things. Creditors can come back against your bankruptcy petition.

RUNNING UP DEBT BEFORE FILING You are required to show your credit card invoices and records. Judge is going to know that you are attempting fraud if you run up your credit card limit.

FILING WITHOUT A LAWYER A lawyer will double-check all the paperwork like, bankruptcy procedure follows all the legalities, or you have not missed any debts, assets, or other items.

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BANKRUPTCY FILING MISTAKES CHOOSING THE WRONG BANKRUPTCY Consulting with a lawyer will guide you if it is the right time to file and what type of bankruptcy will work best for your needs and financial issues.

ADDING TO YOUR DEBT BEFORE YOU FILE Stop spending and try to freeze your debt. Any activity that is out of the norm or that looks suspicious can lead to your request being denied.

TRANSFERRING PROPERTY Transferring property to your friends and family is a huge red flag. It will lead to potential fraud charges and your bankruptcy file being denied.

WITHHOLDING INFORMATION CONCERNING DEBT AND ASSETS Take the time to collect all the information about your assets. Be transparent with your lawyer's team to get the most favorable case result.

FILING TOO CLOSE TO A MAJOR LIFE EVENT Avoid filing if you are going through any extreme life stressors. Considering when to file can make the process easier and lets you focus on bankruptcy.

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