Don’t do this before filing bankruptcy.

Stop – if you are thinking of filing bankruptcy – do not do any of these transactions until you have spoken with me. Waiting a few days will not matter. “Better to be safe than sorry.”  There is a right way to do things before you file bankruptcy, but there are also a whole lot of wrong ways to do things. Some actions could get you into a lot of trouble.  Put it on hold and let me give you the information you need to understand your options.

  • Don’t pay back money you owe to family members.
  • Don’t pay your friends back money you owe them.
  • Don’t give away, gift, or sign land, houses, cars, or any other property to anyone.
  • Don’t sign land, houses, vehicles, or other things over to someone else’s name.
  • Don’t try to hide things you own.
  • Don’t borrow money or use your credit cards.
  • Don’t take out credit card cash advances or use convenience checks.
  • Don’t do any “balance transfers” from one credit card to another.
  • Don’t pay money on any past due bills.
  • Don’t cash out retirement plans or 401K’s.
  • Don’t take out a second mortgage.
  • Don’t take out payday loans or get a title loan on your vehicle.

Bankruptcy was created to protect you, protect your family, protect your property, and protect your income.  So before doing anything, let’s talk about your situation and the right steps to take to see that you get the most benefit out of bankruptcy law.