Making the decision to file for bankruptcy can be very difficult. It could even get more complicated if you make mistakes with your finances prior to filing for bankruptcy, as well as during and after the filing. A considerable amount of preparation and work has to go into your case. During this time, it is usually best to talk to a Baltimore bankruptcy attorney to make sure your financial statements are in order and to avoid any more problems in the future. It’s a fact that there are many things that you should do or should not do which can have serious effects on the success of the filing for bankruptcy. That is why you will need a lawyer who can guide you throughout the whole process.
In order to ensure that your filing for bankruptcy goes smoothly, here are some of the common mistakes to avoid:
- Incomplete, Inaccurate, or Dishonest Information: It is imperative that you provide accurate information about your debts, income, expenses, assets, and financial history. If you put false information, it could subject you to criminal prosecution. You have to remember how serious this situation is and include all the information that is being requested of you. If you leave out information, it could be something that could be used against your favor. This could happen if you leave a creditor out and the debt may not be discharged or if you forget an asset, your Chapter 7 trustee may take away that property.
- Using Credit Cards: It is best to avoid using them. You do not want to end up maxing out your credit and in the process getting unwanted attention from a creditor, something you could really do without. If you run up a balance, you will be getting a notice. Use your debit cards instead, which withdraws directly from your bank account.
- Transfer Assets: Some people believe that by transferring their assets into their main bank accounts or putting them in their spouse’s name, can somehow protect them. Transfers prior to filing for bankruptcy could lead the court to believe that there is something fraudulent going on. Even if it is done innocently with no bad intentions, it is not looked upon kindly.
- Hiring the Cheapest Baltimore bankruptcy attorney: Affordable attorney fees are important in the process, yes, but you do not compromise quality just to save yourself a few bucks. More often than not, lawyers with higher rates have more experience and therefore could give you better service. Remember, your case needs to be solved in the best possible way and you need a good lawyer to take care of it for you.
Life can get difficult especially when bills start piling up. In order to look for solutions that can make your situation easier and bearable, you can call me, Richard J. Hackerman, your trusted and experienced Baltimore bankruptcy attorney. I have been engaged in the private practice of law since 1985. I have represented thousands of clients from all over the state of Maryland in bankruptcy proceedings, real estate and business transactions, estates/wills and trusts, employment issues, sexual harassment and mortgage, and finance related issues. If you are in need of legal help from an experienced attorney, give me a call at 410-243-8800.