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Like most big, bad scary things, bankruptcy has a reputation based on a few tidbits of truth and lots of embellishment. .
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Many of these articles contain highly effective tips and techniques to help you take control of your financial future. bankruptcy is not the end of the world
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Welcome
to our bankruptcy 101. Below you will find a list of
tips you absolutely need to consider before filing for
bankruptcy :
-
Do not file when someone owes you
money (the trustee will take it to pay your
creditors).
-
Do not pay friends/relatives
significant amounts of money within a year of filing
bankruptcy.
-
Do not transfer assets out of your
name prior to filing bankruptcy.
-
Do not pay any unsecured creditor
more than $600 in the 90 days before filing
bankruptcy.
-
Do not incur any additional debt once
you have contemplated bankruptcy as an option.
-
Do not charge on any credit card for
90 days before filing.
-
Do not file if you anticipate an
inheritance within a year.
-
Do not file if you are intending to
sell your real estate soon.
-
Always remember to bring your drivers
license (or other picture ID) and your Social Security Card
to your meeting with creditors (§341 meeting).
-
After you file you may get several
reaffirmation agreements. These are agreements between
the creditor and the debtor that the debtor will pay all or
a portion of the money owed, even though there is no longer
a legal obligation to pay the debt. DO NOT SIGN
REAFFIRMATION AGREEMENTS !
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