What Not to do before you file for Bankruptcy!

If you are thinking about filing for bankruptcy, then you have probably been given a list of things that you should do. There are also some things that you will need to avoid. If you make a mistake during the bankruptcy process, then you may not be able to get your debts relieved. You may also face criminal charges. This is why it is always a good idea to contact a knowledgeable Brooklyn bankruptcy attorney, to help you through the process.

Signing Your Property Over

If you signed over property to another person, then this can be considered fraud. The court may think that you are trying to prevent your assets from being seized by creditors. If you recently sold property, then you will have to wait a while before you file for bankruptcy.

Racking Up New Debt

You should not get any new debt while you are going through bankruptcy. The judge will think you are racking up debt that you do not want to pay back. Not only do you want to avoid getting new credit, but you also want to avoid maxing out the credit cards that you already have. If you are depending on your credit cards to get by, then you will have to wait before you can file for bankruptcy.

Not Paying Your Taxes

Your tax return is used to determine how much assets and income that you have. That is why if you not have done your taxes, then this can cause problems.

Paying Your Lenders and Creditors

Paying a lender or creditor and then filing for bankruptcy can be a bad thing. The bankruptcy trustee may think that you are giving special treatment to certain lenders. They may also think that you are able to pay back your lenders.

Hiring a Brighton Beach Bankruptcy Attorney

The court wants to make sure that your debtors get as much money as possible. That is why they may attempt to seize your assets. They may also try to set up a payment plan that will not work for you.

It is important to hire a bankruptcy attorney in Brooklyn at Ursulova Law Offices, we can guide you through this process.