Meeting with many people in different stages of financial hardship in Aurora and Centennial has given me insight into some major issues people deal with before and during their bankruptcy. Below, you will find a list of tips with three things you should do and three things you shouldn’t do when preparing for and filing a bankruptcy petition for debt discharge.
Bankruptcy Tips of Things to Do When Filing a Littleton Bankruptcy
DO list all assets to avoid bankruptcy fraud – Failing to list any assets may be considered bankruptcy fraud in Colorado and can cause you major issues. Check to make sure you haven’t forgotten to include any property or assets on your bankruptcy petition.
DO list all debts – Remember, any debts you forget or leave off your bankruptcy petition will not be discharged. You will still be responsible for them even after your bankruptcy petition has been granted if they are not listed.
DO follow the steps and advice given by your Littleton bankruptcy attorney – You have entrusted them with your representation for a reason. Letting them guide you through the process will result in a smoother course. Remember, each bankruptcy case is different and unique, so let your bankruptcy lawyer lead you, relying on their expertise and experience.
Chapter 7 and 13 Filing Tips of Things Not to Do When Filing Bankruptcy in Denver
DON’T give away property or make preference payments – It is tempting when you are facing bankruptcy to try and give away assets or make preference payments to family or friends. This is not beneficial to you or the person on the receiving end. Through the bankruptcy process, you may have to ask for the property or money back in order to keep everything on the up and up.
DON’T accumulate more debt while filing bankruptcy – Filing bankruptcy in Denver is seen as a responsible financial move, but that can be negated if you continue to accumulate debt while trying to proceed with a Chapter 7 or Chapter 13 bankruptcy. Don’t make any major financial decisions without consulting your bankruptcy lawyer.
DON’T proceed on a bankruptcy filing without consulting an attorney – Filing for bankruptcy is a complicated process and having an expert bankruptcy lawyer like Barry Arrington on your side will be very beneficial to you.
If you have questions about bankruptcy in Colorado, contact bankruptcy attorney Barry Arrington at 303-205-7870 or submit the ‘Get Help Now’ form to request a free consultation and begin your journey toward financial freedom.