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What not to do before filing bankruptcy

On Behalf of | Oct 12, 2015 | Bankruptcy |

If you’re considering filing for bankruptcy, there are many things you should take into consideration. There are some things that you may be doing that could actually be hurting your bankruptcy case. It is always a good idea to talk to a bankruptcy attorney if you are planning on filing for bankruptcy. Below we’ve listed some things you shouldn’t do before filing for bankruptcy so you can avoid any challenges.

  1. Do not try to be sneaky and conceal/transfer money or property to your significant other or a parent. Many people will do this right before a bankruptcy to try and protect their assets, but this will get you in trouble as the courts could label it as fraud.
  1. Do not continue to use your credit cards; if you must, limit their use to only necessities such as food or housing. However, you can continue to use your debit card as you please.
  1. Do not drain your retirement accounts to pay off credit card bills. Part of the main reason to not do this is because you are allowed to keep retirement funds when filing a bankruptcy.
  1. Avoid making unusual deposits into your bank account.
  1. Once you hire an attorney, do not lie to them about anything. If you are untruthful, the lawyer will not be able to represent you to their best ability.

If you’re thinking about filing bankruptcy and need a qualified bankruptcy attorney, please give us a call at 414-259-9300. We offer our services in Wauwatosa, WI and surrounding Wisconsin areas including Milwaukee, Waukesha, Ozaukee, Washington, Racine and Kenosha Counties.