16 Jun 33 Don’ts for Preparing to File Bankruptcy – Part 2
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.
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.
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