5 Mistakes to Avoid When Declaring Bankruptcy
If you are currently experiencing financial hardships, you may want to consider how filing for bankruptcy can benefit you. Many people associate bankruptcy with financial failure, but this is not reality. By filing for bankruptcy, you can discharge many debts so you can get a fresh start financially and start working to rebuild your credit score. However, there are several mistakes can derail your bankruptcy filing.
If you are curious about how bankruptcy can help you get out of debt, contact a Boca Raton bankruptcy attorney of Eric N. Klein & Associates, P.A., today at 561-353-2800 and schedule a free consultation. You need an attorney on your side to prevent you from making any crucial mistakes that could ruin your chances of filing for Boca Raton bankruptcy.
Common Bankruptcy Mistakes
Some common mistakes people make leading up to filing for bankruptcy, or while in the process of filing, include the following:
- Cashing in retirement accounts—you can typically discharge the majority of all retirement funds and keep them even after filing for bankruptcy.
- Running up your credit card debt after deciding to file for bankruptcy—after filing for bankruptcy, avoid relying on your credit card because some credit card debts may not be dischargeable if the items were purchased after filing for bankruptcy
- Transferring property out of your name in order to protect it—this is unnecessary and can often be reversed by a bankruptcy trustee
- Not appearing in court—even if you have filed for bankruptcy, you still are required to show up in court if you are facing a collection case
- Withholding information from your legal team—if you do not disclose important information to your attorney, you are at risk of losing assets or possibly getting your case dismissed
A dedicated Boca Raton bankruptcy attorney can guide you through this time to ensure that these mistakes do not affect your ability to file for bankruptcy.
Contact Us
If you are facing bankruptcy, there is help. For more information about your legal options, contact a qualified Boca Raton bankruptcy lawyer of Eric N. Klein & Associates, P.A., today at 561-353-2800.
