Before you begin the process of filing for bankruptcy, it is important to carefully review your rights and obligations. Making an error during any stage of filing could create serious legal and financial complications for your family or business. Even if a certain idea seems like it could save you money or effort, going through with it may be a grave mistake.
Before making any lasting choices about your finances and your future, you may want to discuss your situation with a qualified attorney. A Birmingham bankruptcy attorney from Greenway Bankruptcy Law, LLC can offer straightforward and detailed advice that will help you avoid common pitfalls. Call our offices today at (205) 324-4000.
What Not to Do during Bankruptcy
The following are common missteps taken by people in serious debt. To protect your assets and your reputation, you should avoid the following:
Running up your credit card bills before filing – Because credit card debts are often dismissed through bankruptcy, many people see an opportunity to spoil themselves before they begin the filing process. However, making large credit card purchases before declaring bankruptcy can be considered a form of fraud. It is not worth the risk of legal penalties.
Hiding your assets – Transferring money or valuable possessions to another person’s name, or lying about their existence to the courts can seem like a good way to protect them. However, the trustee who will oversee your bankruptcy can find hidden assets with relatively little difficulty. The chances that you will be caught and penalized are high.
Ignoring the problem – Facing your financial difficulties head on can be highly stressful and difficult. Some people cope with these negative emotions by simply ignoring the problem, or letting their attorneys take over completely. Unfortunately, you need to stay in control of the situation in order to secure a more stable future. Work closely with your attorney, attend every hearing and legal appointment, and make sure all of your paperwork is complete and on time.
It can be difficult to make sound decisions when you are in the midst of a complex and anxiety-provoking process. Fortunately, an experienced Birmingham bankruptcy lawyer can provide the information, guidance, and aggressive representation you need.
Birmingham bankruptcy lawyer Paula Greenway handles each case with dedication and perseverance. To schedule a free initial consultation, contact Greenway Bankruptcy Law, LLC at (205) 324-4000.