Common Bankruptcy Mistakes
When it comes to bankruptcy proceedings, honesty truly is the best policy. There are countless cases of individuals making intentional and unintentional errors in their statements, hearings, and paperwork during the bankruptcy process, and paying for the consequences of those errors.
Any error (accidental or intentional) may result in a judgment against the individual and the applicant may find him or herself in a worse financial situation than existed before filing. To avoid such errors and judgments, it is important to be honest and make sure that all paperwork is accurate. For help with bankruptcy proceedings, contact the offices of Boston bankruptcy lawyer Joshua Spirn & Associates at 800-975-5346.
Bankruptcy Mistakes
The following are common mistakes that individuals have made when filing and pursuing a bankruptcy judgment:
- Hiding assets. Some people think that their assets will be protected if they transfer ownership to another person. Transferred assets are relatively easy to discover and usually result in trouble for the applicant and the person who accepted the asset.
- Failing to disclose a previous bankruptcy.
- Cash advances or excessive credit card use leading up to a bankruptcy application are not good actions. The court will often presume abuse in the financial transactions and may rule against the individual.
- Incorrect statements of income and assets. It is important to carefully examine your financial situation and correctly include all income, assets, and debts on the bankruptcy paperwork.
- Late paperwork and missing hearings. It is important to meet all filing deadlines and appear at any scheduled hearings.
- Failure to disclose assets. Some individuals wrongly believe that omitting assets from their statements will protect them from the bankruptcy proceedings.
Contact Us
If you are considering filing for bankruptcy, contact an experienced Boston bankruptcy attorney at the Law Offices of Joshua Spirn & Associates at 800-975-5346 to discuss your options.
