Bankruptcy Attorney Ogden

If you are thinking of filing for bankruptcy, there are a lot of things you need to get sorted. Apart from filling the mountain of paperwork required for the procedure, you also need advice from a good bankruptcy attorney in Utah. This is because quite a few things can have a detrimental effect on the success of your bankruptcy and hence avoiding them is something you need to do. Here are things you shouldn’t do before you file for bankruptcy.

Put forth dishonest, incomplete or inaccurate information

Providing complete and accurate information about your total debts, income and expenditure in your paperwork as well as during the 340 Meeting of Creditors is extremely important. Honesty is necessary because if you block out particular information about your finances, such as leaving out a piece of asset you own, you can be subject to criminal charges. Take the help of a good Chapter 13 bankruptcy attorney when you are doing all the paperwork because leaving out anything that is applicable to you is not a good idea. It could mean that you are sent more paperwork and even be told to pay extra fees.

Not filing income tax returns

Not filing your income tax returns for at least a couple of years before filing for bankruptcy will just stop the process. Your bankruptcy attorney in Utah should tell you that your tax returns are the only way of knowing exactly what your assets are and what your previous earnings were and unless you do it, you are going to be in trouble.

Getting into a new debt

Any good bankruptcy attorney in Utah will tell you that it is a mistake of getting a new debt in the 3 months prior to filing for bankruptcy because the creditor may object to your filing saying that you had no intention of paying up. Whether it is cashing out your 401 (k), your retirement program or your pension plan, you should refrain from doing anything that can be seen as incurring new debt.

Move your assets

A good Chapter 13 bankruptcy attorney will tell you that if you don’t want to be subject to criminal penalties, it makes sense not to move your assets, whether it is to try to sell, hide or transfer any of your assets for safekeeping before filing.

Apart from the above things to avoid doing, any good  Chapter 13 bankruptcy attorney will tell you not to file if you are about to receive substantial assets. It may be that you are expecting a significant inheritance, a repayment of a substantial loan you gave someone or even a considerable tax refund. Hire a professional who is sympathetic to your situation.