Dos and Don’ts

DOS AND DON’TS WHILE DECIDING WHETHER TO FILE?

DON’T use up unused credit in anticipation of bankruptcy

DON’T transfer or give assets, such as vehicles, real property or other tangible things to friends, relatives or even creditors;

DON’T take money out of your retirement plan to pay debts;

DON’T make agreements with creditors who are pressing you for payment or other agreements to pay debts.

DO continue to make payments on your house, car and other assets that you desire to keep;

DO be open and honest with your family members and creditors;

DO consult an experienced lawyer who can expertly guide you through the complexities of bankruptcy and who can give you advice as to whether bankruptcy, and what kind of bankruptcy, may be beneficial to you and your family.