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, Debts Not Dischargeable, General Bankruptcy Information, Kansas
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.
Sorry, comments for this entry are closed at this time.