Bankruptcy Tips — Bankruptcy Lawyer Boca Raton
The first tip we at FurrCohen have for people considering bankruptcy is this: Don’t rule it out without considering all the facts. The fact that you have arrived on this Web page indicates that you have taken an important first step toward debt relief.
Other tips we have to offer include the following:
- Don’t put it off. Some debtors, as they are falling into unmanageable debt, try and try to pay their way out, to no avail. An earlier decision would have allowed them to get a fresh start much sooner, without wasting all the payments that largely went to interest.
- Watch out for credit consolidation schemes. These normally involve large fees paid to the credit consolidation company without significant reduction in debt.
- Be careful about timing. An experienced bankruptcy lawyer can advise you as to when is the right time for you to file bankruptcy.
- Don’t make major financial transactions in the months leading up to bankruptcy.Taking out a loan or using a credit card within a certain period of time before filing bankruptcy can cause your case to be thrown out. Paying off loans soon beforehand can also cause trouble since the bankruptcy court may consider that you were showing priority to those creditors. Timing is the key.
- Choose the type of bankruptcy most appropriate to your circumstances. Many businesses remain viable through a Chapter 11 bankruptcy. Many individuals, including successful professionals, are surprised to discover that they qualify for Chapter 7 bankruptcy.
- Work with experienced attorneys you can trust to guide you well. Our well-respected clientele have honored us with their trust. We, in turn, value each new client and treat all like friends or colleagues.
- Don’t think you can hide assets or income through creative tricks. If you are considering giving assets to a family member, hiding assets offshore or disguising assets as belonging to some other person or entity, and then file bankruptcy, you run the risk of a dismissed case and/or criminal charges.
- Do report all assets, income and debts, including personal loans. An informal loan from your brother must be reported along with more official-looking loans.
- If bankruptcy is not right for you, consult with an attorney who also works with clients seeking bankruptcy alternatives, such as loan workouts.
Ask Our Boca Raton Bankruptcy Attorneys Of FurrCohen, P.A. For More Bankruptcy Tips
Florida bankruptcy lawyers at FurrCohen, P.A. can evaluate your individual circumstances and advise you accordingly on do’s and don’ts to keep in mind.
Contact Our Boca Raton Bankruptcy Attorneys
If you want to learn more about means to resolve your difficult debt situation, turn to the highly skilled and experienced attorneys at FurrCohen. Our firm is committed to helping people move forward with their lives without the burden of overwhelming debt.
Please contact our Boca Raton, Fl office to speak with our bankruptcy lawyers, call 561-395-0500 or contact us online.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.