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4 Things You Should Not Do Before Filing Bankruptcy

Posted By Allmand Law Firm, PLLC || 11-Nov-2013


Most debtors who file bankruptcy want to complete the process as soon as possible to get the relief they need. Yet, doing certain actions beforehand can hinder the end result of your case. Consumers are encouraged to learn about the filing process, but you should also keep in mind of actions to avoid if you are considering legal protection. It bears repeating things to avoid since some people think they can do these things and get away with it, but they can make the situation even worse.

  1. Ignoring collection attempts from creditors. Many debtors are known for waiting too long to get the filing process started. The longer you wait the more likely repossession, foreclosure, or wage garnishment may happen when you least expect.

  2. Failing to file income taxes. Your taxes should be up to date when you file and they are important for Chapter 13 bankruptcy filers to help determine monthly payments. Your case could be dismissed if taxes are not in order.

  3. Moving your assets. Transferring, selling, hiding, or safeguarding assets may lead to fraud charges. Talk with your attorney about exemptions to help legally protect your assets.

  4. Giving false information. It is important to be honest when filing necessary paperwork and when you discuss your situation with your attorney. Documentation and schedules should be accurate, complete, and concise. Because you are under oath when you present such details you could face fraud charges, be denied discharge of debt, or have your case dismissed.


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