Bankruptcy Mistakes (And How To Avoid Them)

When considering filing for bankruptcy, it is vitally important that you understand everything about the legal situation you are facing so that you can be confident you are making intelligent, well-rounded decisions. No matter if you are considering filing for Chapter 7 or Chapter 13, it is vitally imperative that you contact a skilled Los Angeles bankruptcy lawyer as soon as possible to get your questions answered; questions you will be asking yourself such as: should I file, is my property protected, and what will life after bankruptcy be like? Making sure you are well-versed in all matters of the legal process will ensure that you are making the correct decision.

By getting an attorney involved at the onset, you can be confident that you will be informed about common pitfalls and how to avoid them. One such mistake made is either filing too soon or too late. If you jump the gun on filing, such as right before a large purchase, can run up your debt even more so immediately after attempting to get it under control. If you wait too long, however, you can live your life in constant fear causing undue levels of stress.

People also incorrectly believe that running up credit card bills is alright, because they think such debts will simply be discharged. This is simply untrue, however, as if in the months leading up to filing for bankruptcy you are found to be with wild credit card bills, it can lead to your claim being discharged. Other mistakes that are, sadly, too common include not being completely honest when filing for bankruptcy by hiding certain assets from the judge, and draining your 401k to pay off your debts (which is often protected during bankruptcy and only serves to leave you not only still facing credit card debt, but also with no 401k).

Why Hire a Bankruptcy Lawyer?

By working with an attorney well-versed in bankruptcy, you can rest assured that you will not only avoid these mistakes, but that you will be safely navigated through all of the legal processes with finesse and ease. At Pacific Attorney Group, we understand the emotional and financial turmoil that comes with any sort of dealings with bankruptcy and we want to be here to help. By working closely with you, evaluating your case and ensuring that you are being treated with the respect and devotion that you deserve, we will do everything in our power to get your life back on track once more.

If you or a loved one are considering filing for bankruptcy, contact a Los Angeles Bankruptcy Attorney today.