Considering bankruptcy? If so, there are some things that bankruptcy attorneys advise that you do and don’t do before filing. Let’s take a look:
Make a List of Your Assets
Making a list of your assets is a must. If you wish to get a head start, you can begin making your list before meeting with a bankruptcy lawyer. One of the first things your bankruptcy attorney will do is ask you to write down everything you have and own. It is important to be completely honest and not try to hide assets or give them to a friend or family member to “hold.” Your bankruptcy lawyer needs to know and see everything.
Don’t Run Up Additional Debt
Just because you are considering bankruptcy does not mean you should run up additional debt. There can be consequences to doing this so be sure to consult your bankruptcy attorney before making any large purchases.
Keep Your Retirement Funds Where They Are
Bankruptcy attorneys advise against draining your retirement accounts. Leave everything where it is until you meet with your bankruptcy lawyer. Some or all of your retirement accounts may be exempt from creditors.
The Drose Law Firm has more than three decades of experience helping individuals file bankruptcy. Charleston residents trust our bankruptcy attorney because of his personalized approach to help them “reset” and get back on track. Remember, not all bankruptcy lawyers are alike. You want to hire a bankruptcy attorney who is qualified and has a comprehensive understanding of bankruptcy laws. At the Drose Law Firm, bankruptcy is all we do. If you are considering filing Chapter 7 or Chapter 13, we can help. Give us a call to learn more today.