33 Don’ts for Preparing to File Bankruptcy - Part 2
By Jill Michaux, Kansas Bankruptcy Attorney on Jun 16, 2008 in Bankruptcy Myths, Bankruptcy Practice and Procedure, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Discharge, What Can and Cannot Be Forgiven, General Bankruptcy Information, Kansas, Protecting Assets In Bankruptcy
Here is part 2 of a list of 33 don’ts for preparing to file bankruptcy compiled by Jonathan Becker after polling the listserv members of the National Association of Consumer Bankruptcy Attorneys.
- Don’t fail to tell your attorney about your small business, sole proprietorship, partnership, LLC, LLP, LC, corporation, or hobby.
- Don’t purchase a home shortly before filing bankruptcy without consulting your attorney.
- Don’t give or gift property to anyone.
- Don’t pay more than $600 on any past due bill.
- Don’t transfer property to anyone.
- Don’t cash out retirement plans or 401k’s.
- Don’t take out a second mortgage.
- Don’t gamble.
- Don’t hide assets or debts.
- Don’t take out “payday loans”.
- Don’t put your money in your kids’ bank accounts.
See part 1 of 33 don’ts for preparing to file bankruptcy here. Stay tuned for part 3.
You should seek a local attorney in your state to help you prepare for filing bankruptcy. Your attorney will evaluate your situation and help you develop a game plan. Planning to file a bankruptcy is be tricky. You shouldn’t act without your attorney’s advice.
If you liked that post, then try these...
The 2005 Bankruptcy Act: Bankruptcy Filings Are Increasing by Karen Oakes, Southern Oregon Bankruptcy Attorney
When Do I Know Its Right To File For Bankruptcy? 5 Top Reasons. Part II of II. by Michael Doan
Florida lawmakers say homeowners can't have legal representation by Chip Parker, Jacksonville Bankruptcy Attorney
Sorry, comments for this entry are closed at this time.