Filing for Bankruptcy Mistakes

NATHAN A BERNEMAN

FILING FOR BANKRUPTCY MISTAKES

BERNEMANLAWFIRM.COM

NATHAN A BERNEMAN

FILING FOR BANKRUPTCY MISTAKES

USING THE WRONG FUNDS TO PAY THE DEBT It might seem like a great idea to use a home equity loan or a retirement fund to pay down your debt, but the lawyer advises avoiding this bankruptcy filing mistake. Allow the attorney to help you file for bankruptcy and have your debt dropped rather than pay it down with other funds. Retirement funds will help you in the future, and a home equity loan can put you further in debt.

NATHAN A BERNEMAN

FILING FOR BANKRUPTCY MISTAKES

TRANSFERRING ASSETS BEFORE FILING A bankruptcy lawyer will strongly caution against doing something that might make you look suspicious. Transferring assets may look like you are not being honest and tampering with the facts. Tampering with the facts like transferring your assets before you file for bankruptcy.

Evidence of hiding assets can deny your bankruptcy.

NATHAN A BERNEMAN

FILING FOR BANKRUPTCY MISTAKES

OMITTING ASSETS FROM PAPERWORK Your paperwork needs to be accurate, and you should include every single asset- big or small that you have. It can lead to further problems with your creditors, and even to seizing things.

Also, creditors can come back against you if you are making this bankruptcy filing mistake.

NATHAN A BERNEMAN

FILING FOR BANKRUPTCY MISTAKES

RUNNING UP DEBT BEFORE FILING Any suspicious activity before filing for bankruptcy is going to be noted and well documented in your proceedings. 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. It can lead to your bankruptcy request being denied and, it can lead to you paying back all your debts.

NATHAN A BERNEMAN

FILING FOR BANKRUPTCY MISTAKES

FILING WITHOUT A LAWYER They will make the process a lot easier by helping you to file for bankruptcy successfully without any mistakes. To get your paperwork filed correctly, a lawyer will double-check everything. They will make sure that your bankruptcy procedure follows all the legalities and you have not missed any debts, assets, or other items that should have been in your bankruptcy documents.

NATHAN A BERNEMAN

FILING FOR BANKRUPTCY MISTAKES

CHOOSING THE WRONG BANKRUPTCY Waiting can lead to more debt and you should avoid this bankruptcy filing mistake. Talk with a lawyer as soon as you have a concern so that they can guide you on what type of bankruptcy will work best for your needs and financial issues. Consulting with a lawyer will guide you if it is the right time to file and how you should proceed to get the best overall outcome.

NATHAN A BERNEMAN

FILING FOR BANKRUPTCY MISTAKES

ADDING TO YOUR DEBT BEFORE YOU FILE Stop spending and try to freeze your debt before filing. Any out of the norm or suspicious activity can lead to your request being denied. You don't want to make any such bankruptcy filing mistake that can lead to more problems.

When you decide to file, you should not spend any more money and keep your credit debt at a steady level.

NATHAN A BERNEMAN

FILING FOR BANKRUPTCY MISTAKES

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. It is sometimes misunderstood that bankruptcy takes away your properties. You can keep some assets in bankruptcy, and your bankruptcy lawyer can help you better understand what you can have and what you must get rid of.

NATHAN A BERNEMAN

FILING FOR BANKRUPTCY MISTAKES

WITHHOLDING INFORMATION CONCERNING DEBT & ASSETS Bankruptcy is something that is very open and that you must share everything about. If you are filing for bankruptcy, you should take the time to gather all the information about your assets, the debts you are working to get rid of, and more. Be transparent with your lawyer and his/her team to get the best possible result out of your bankruptcy case.

NATHAN A BERNEMAN

FILING FOR BANKRUPTCY MISTAKES

FILING TOO CLOSE TO A MAJOR LIFE EVENT When your life is already in confusion, it may not be good to add the stress of filing for bankruptcy to your plate. Try to avoid filing if you are going through any major life stressors.

Taking the time to consider when to file can make the process easier and lets you focus on bankruptcy completely.

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