Bankruptcy, contrary to popular belief, is a process that can be very helpful if you feel you are drowning in debt. Essentially, bankruptcy will allow you to get rid of most of your unsecured debt, giving you a chance to rebuild your finances from scratch. For those who have recently faced financial hardship due to the economic crisis the United States is experiencing, bankruptcy can be their saving grace – an opportunity for a fresh financial start.
However, bankruptcy can be more complicated than it seems. Many people make mistakes that end up hurting their situation, making it needlessly more complicated and burdensome. Thus, here are 5 common bankruptcy mistakes you should avoid during your filing.
Now, if you want to make sure you don’t make any mistakes during your bankruptcy filing, your best bet is to work with a local Huntington Beach bankruptcy attorney. An experienced attorney will guide you every step of the way, and make sure everything is handled correctly. Vist their site here https://kt-bankruptcylawyer.com/locations/bankruptcy-lawyer-huntington-beach-ca/
If you are looking for a Huntington Beach bankruptcy attorney who is committed to you and always available to help you with whatever you need, working with KT Bankruptcy Lawyer may be an excellent idea. This bankruptcy law firm has helped hundreds of people get a fresh financial start, and you could be next. Contact them now for a completely free consultation.
Waiting too long to file
If you find that your daily life is becoming increasingly unbearable due to your accumulated debt, then perhaps it is time to explore options such as bankruptcy. If you are aware of your debt problem, and you still try to avoid bankruptcy, you’ll probably just make it harder for yourself in the long run. Sometimes the writing is on the wall. Therefore, if you know that bankruptcy is your only option, don’t delay and take action as soon as you can.
Incurring More Debt Before You File
If you are considering bankruptcy as an option, or even if you have already started the process, taking on more debt is a very bad idea. Do not charge your credit card or take out any more loans before or during bankruptcy, as undertaking debt without the intention of paying it off may be considered a criminal act and could cause you to lose your chance to file for bankruptcy.
Filing for the Wrong Type of Bankruptcy
When you file for bankruptcy, one of the most important decisions you must make is which chapter of the bankruptcy you are going to file. Choosing the wrong type of bankruptcy can be catastrophic for you, and can cost you a lot of time and even put the assets you are trying to protect at risk. Be sure to consult with an attorney to determine the best type of bankruptcy for your case.
Failing to Disclose All of Your Assets
It may seem like a good idea to hide some assets from the bankruptcy process, so you don’t have to worry about losing them, right? WRONG! Bankruptcy is meant to give honest debtors a chance to get rid of their debts, and lying during the process can be quite counterproductive. Failing to disclose all your assets during the process will only create problems for you, and could even be considered an attempt to commit fraud, even if it is a genuine mistake. The best way to avoid these types of slip-ups is to work with an experienced bankruptcy attorney.
Not working with an attorney
In theory, you can file for bankruptcy on your own, but this could end up being a bad idea. Bankruptcy is a complicated process for those who are unfamiliar with it, and any mistakes can end up costing you time and even causing you to lose some of your most precious assets. Therefore, you should work with a local Huntington Beach bankruptcy attorney to facilitate the entire process.
And remember, if you want to work with experienced attorneys who are available to you at all times, contact KT Bankruptcy Lawyer and begin your journey to a fresh financial start.
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