Mistakes to Avoid Before Filling Bankruptcy
If the need to file a bankruptcy is coming, There are a few things that need to be avoided if possible. Don’t transfer property out of your name to family member. If you do that the trustee has the right to go to that person and take the idem anyway. Don’t charge up the credit cards. If you charge more that 600 dollars in the last sixty day the creditors has a right to argue you did it know you were going to file the bankruptcy and the debt may not be discharged. Don’t pay family members back money you owed to them prior to filing, the trustee could force them to give it back to him and he would divide it between all your creditors.
The bankruptcy laws are a legal means for us to discharge debt that for one reason or another our income has changed and we are now at a point can not pay the bills like we did before. Don’t try and take advance of the law because if could come back and hurt you.
Please fill out our free evaluation form to determine if bankruptcy is right for you.
