Mistakes can cost you big time when it comes to filing for bankruptcy. Whether you attempt it alone or hire a knowledgeable Walworth County bankruptcy attorney, making mistakes is something you definitely want to avoid. One little mistake could cost you everything. Our Walworth County bankruptcy attorney, Shannon Wynn, shares common mistakes people make when filing for bankruptcy.
1. Not Being Honest. Lying about your income or assets will get your bankruptcy case dismissed. It could also land you in jail. Walworth County bankruptcy attorney, Shannon Wynn, can assist you with filing your bankruptcy at the best time.
2. Giving Away Assets And/Or Money Right Before Filing Bankruptcy. It is unlawful to hide any money or assets from the bankruptcy trustee, including money you know will be available, but you haven’t received it yet. For instance, you cannot give away your truck to your brother for the sole purpose of hiding it from the bankruptcy trustee. Giving away assets or money right before filing bankruptcy is illegal. Walworth County bankruptcy attorney, Shannon Wynn, can assist you with correctly listing your monies and assets to avoid any conflicts.
3. Maxing Out Credit Cards. When you file your bankruptcy petition, the trustee will look over everything with a fine toothed comb. If the trustee feels that you purposely ran up or maxed out credit card balances with the intention of filing bankruptcy, the credit card company has the legal authority to ask the court not to have those charges discharged.
4. Purposely Omitting Information. If you purposely leave out important information when filing your bankruptcy petition, such as loan or lawsuit information, you are committing fraud. You could be charged with fraudulent activity and have your entire bankruptcy case dismissed without a discharge of your debts. When you speak with our Walworth County bankruptcy attorney, Shannon Wynn, it is imperative that you are honest about your situation. Attorney Wynn will know exactly how to handle your specific situation.
5. Not Listing All Creditors. When you don’t list all of your creditors on your bankruptcy petition, it only hurts you. Not listing a creditor could lead to you needing to pay the debt back without a discharge.
6. Reaffirming Loans You Cannot Afford. It is understandable that you may want to salvage a relationship you have with a particular bank or mortgage lender. However, it is not advisable to reaffirm any loans or mortgages that are not within your reasonable budget. It may come back to haunt you in the end. Most people realize the excessive payments catch up with them quickly. You do not want to end up in the same boat, needing to file bankruptcy again, in just a few short years. Take the complete fresh start. Our Walworth County bankruptcy attorney, Shannon Wynn, highly recommends it.
Contact Our Walworth County Bankruptcy Attorney
Filing a Walworth County bankruptcy is a complicated legal process. One little mistake can dismiss your entire bankruptcy case. It is important to know what those mistakes are. To avoid any pitfalls, it is most beneficial to hire an experienced Walworth County bankruptcy attorney. Call Wynn at Law, LLC for a free bankruptcy consultation at 262-725-0175. Wynn at Law, LLC has bankruptcy offices located in Salem, Muskego, Delavan, and Lake Geneva, Wisconsin.
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*The content and material on this web page is for informational purposes only and does not constitute legal advice.