As attorneys, we have seen far too many of our Wisconsin neighbors struggle with overwhelming medical and credit card debt. Despite the many benefits filing a bankruptcy can offer, most people resist this solution for as long as possible. When they do realize bankruptcy is the best and most logical option, many forge ahead without learning as much as they can about the process.
While lawmakers have tried to make the process as easy as possible, you could still make serious mistakes that might derail your efforts. We want to give you a few tips about what you should not do if you are filing a bankruptcy. The actions we will discuss may not seem like a big deal, but they could ultimately have a negative effect on your bankruptcy.
- Don’t transfer any property to another person. Even if your intentions are not deceptive, it may look like you are hiding assets.
- Don’t add to your existing debt. This means you can no longer use your credit cards even for a three-dollar drink or a couple of gallons of gas.
- Don’t forget to disclose all of your financial information. If the court believes you are withholding financial data, it could damage your case, even if it was unintentional.
For the uninitiated, bankruptcy can be a complicated process. This is why we typically recommend working with an attorney throughout the bankruptcy process. Sharing the load with a legal representative ensures you avoid making serious errors when while redistributing much of the paperwork involved in bankruptcy. If you need more information about the bankruptcy process in Wisconsin, we invite you to explore our website.