Making the decision to file for bankruptcy is one that you probably mulled over for awhile, and one that you most likely aren't taking lightly. The process can take some time, and you need to be sure you're doing everything you are supposed to be doing so you don't cause your bankruptcy to be dismissed and have to start the process all over again. This can take even more time and end up costing you more money that you don't have. Read on for a few bankruptcy tips to ensure your case goes smoothly.
1. Be Honest About Your Debts
Don't leave anything at all out of your bankruptcy in an attempt to try to hide anything. Be thorough in your bankruptcy paperwork. Hiding your debts will only come back to haunt you after your bankruptcy is filed. Once filed, if you have creditors that aren't listed, they will still be able to come after you for those debts. it's in your best interest to fill out your paperwork thoroughly.
2. Be Honest About Your Assets
Just as with being honest about your debts, you need to be completely honest about your assets as well. If you own property, have other bank accounts or any other assets, the bankruptcy court will be able to find this out. Hiding your assets could lead to a dismissal in your bankruptcy. Some people will hide their assets in an attempt to hold onto their belongings, as there are times when you will need to turn in those assets to help pay back your debts, but this isn't always the case.
3. Talk To Your Bankruptcy Attorney
Before you make any other financial decisions, talk to your bankruptcy attorney beforehand to be sure it is alright. Don't start taking money out of your savings accounts or attempting to open up new debts before you speak to your bankruptcy attorney about it first. You don't want to end up hindering your bankruptcy case outcome.
4. Stop Stalking To Creditors
Stop talking to your creditors about your debts and stop paying back these debts once you have filed for bankruptcy. Give all creditors your bankruptcy attorney's phone number and let your bankruptcy attorney talk to the creditors instead. You can also provide them with your bankruptcy case number. Once your bankruptcy is complete, your creditors will be sent a discharge of your bankruptcy and shouldn't contact you again about your debts.
If you are considering filing for bankruptcy, be sure to discuss your debts with your chapter 7 bankruptcy attorney. Follow your attorney's advice and consult the attorney before making any other financial decisions while going through your bankruptcy.Share