The Top 10 Biggest Mistakes Made When Filing for Bankruptcy
The following mistakes are common but easily avoidable with the right advice:
- Paying back a friend or relative prior to filing
- Buying a financed vehicle just before filing
- Withdrawing retirement funds prior to filing
- Removing cash from a bank account prior to filing
- Paying back unsecured creditors 90 days prior to filing
- Filing before tax refunds are received and spent
- Not knowing the appropriate exemptions
- Filing under the wrong Chapter
- Failing to list all creditors
- Not consulting an experienced bankruptcy attorney
Filing for bankruptcy without a bankruptcy attorney is costly. Mistakes are easy to make for those unfamiliar with the regulations. Hiring a bankruptcy attorney not only provides peace of mind but can also protect your assets and save you money in the long run.
