If you’ve decided to declare bankruptcy, I hope you’ve talked to a professional and you have all your ducks in a row. But if not…you may be unaware of a few very important aspects of bankruptcy. First, it’s a real legal process. You can’t just fly by the seat of your pants and fumble your way through. Second, there are certain things that you simply CANNOT do before you file. And third, there are some really dumb things you can do before filing bankruptcy. I highly recommend avoiding ALL of them.
Dumb Things I Recommend NOT Doing Before You File for Bankruptcy:
#1: Max out your credit cards.
#2: (More specifically) Take out cash advances on your credit cards to repay your favorite creditors.
#3: (Even more specifically) Take out cash advances on your credit cards to repay your REAL favorites – friends and family.
#4: Cash out retirement accounts.
#5: Save money by hiring the cheapest attorney in the history of the law.
#6: Lie or withhold information from your bankruptcy attorney.
#7: Deciding you’re smart enough to manage on your own and skip hiring an attorney at all.
I feel I was pretty clear, but just in case there was anything lost in translation or you were skimming and you missed it the first time, bankruptcy is a BIG DEAL. It’s a complex area of law. As part of the law, if you break the law, you can be in trouble.
If you, regrettably, already committed one of the heinous acts mentioned above prior to filing for your Chapter 7 or Chapter 13 bankruptcy, don’t despair until you’ve talked to a professional about your specific situation. Get in touch with a southern California bankruptcy attorney today and find out if there’s any way to address the situation before your bankruptcy petition is filed with the bankruptcy court. With an experienced and knowledgeable bankruptcy attorney on your side, you may be able to right the problem before it harms (or completely obliterates) your chances of obtaining the discharge of debt. That is the entire purpose of filing for bankruptcy, after all.
For additional information on dos and don’ts of filing for bankruptcy, get in touch with the southern California bankruptcy attorneys at Westgate Law. We can assist you through every stage of the bankruptcy process to ensure that it goes smoothly.