Law Offices of David Enos
500 S. Taylor Suite 720 Amarillo, Texas 79101
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Mistakes to Avoid Prior to Avoid Before Filing Bankruptcy
If you are considering bankruptcy, getting prepared ahead of time can affect the outcome of your case and your financial future. At Law Offices of David Enos, we know that not preparing or taking the wrong steps can risk the success of a your case. This is why we do all we can to educate our clients about the journey ahead and their rights, and to provide them with all the information, assistance, and resources to make the process run as smoothly and sufficiently as possible.
We have seen how many individuals struggling with debt have made mistakes prior to bankruptcy filings – including some with terrible consequences. Here are a few things to avoid before filing bankruptcy:
Neglecting to file tax returns - Your tax returns are important and are required as part of your bankruptcy filing. They are important in helping eliminate tax debt.
Providing false information - When you decide to begin the filing process you will be required to submit financial information to your trustee or attorney that will be reviewed by the court. Your information should be complete, accurate and honest. Failure to do so may incur criminal prosecution, case dismissal or debt discharge not being granted.
Changing titles or moving assets - If you do this right before filing, it may look as if you are attempting to hide assets. You may want to wait a certain period before filing.
Running up new debt - If you incur a lot of debt within 90 days of filing, it may not get discharged. Maxing out creditors because you know you will file bankruptcy could mean you would be liable in the end.
Choosing to pay certain people or creditors over another - In some cases, a bankruptcy filing could undo a payment you made.
Hiding assets or failing to report an asset you anticipate on receiving (will, trust, lawsuit settlement, etc.) - You can review your options with David Enos prior to filing to learn how to protect such assets legally.
Not working with a lawyer – While there is no law requiring filers to have an attorney, working with an experienced lawyer can make the difference in bankruptcy proceedings, which are known for their complexities and for the weight they have on one’s future. With guidance and counsel from seasoned legal professionals, you can ensure you are taking the rights steps every step of the way.
Information on this website is based on general principles of law. They may not apply to your situation. Nothing in this article constitutes legal advice and no reliance should be placed on the legal principles set forth in this website. This is why you should personally consult with attorney David Enos about your case.
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