Don't do these things before/while filing for bankruptcy.
Before you File:
Don't pay money to family for past due debt. The Court can take these preference payments back up to one year later if you file bankruptcy.
Don't do cash advances or balance transfers on your credit cards. You may have to repay cash advances and balance transfers done within 90 days of filing your bankruptcy.
Don't file bankruptcy if you are about to receive a large tax refund. Email and tell Jeff how much you expect to receive before going forward. Check to see if you have Earned Income Credit, you get to keep all of that.
Don't take out other new debt you will not be able to repay.
Don't file when you may receive an inheritance within 6 months.
Don't file if you are suing someone for punitive damages without discussing it with Jeff first. Workers compensation cases are usually fine.
Don't give valuable property away.
Don't transfer title on your car or other property.
Don't pay more than $600 to any creditor on a past due bill without discussing it with Jeff first.
Don't cash our retirement, 401k or other exempt accounts.
Don't take out a 2nd mortgage to pay off credit cards. This usually ends in disaster.
Don't gamble.
While Filing:
Don't leave your pay stubs at home. We need your pay stubs in order to know if you are eligible to go forward.
Don't leave assets off your petition.
Don't leave any creditors off your petition. You Don't want to go through all this and end up with a hangover.
Don't miss your hearing. If you do not attend your hearing, your case may be dismissed.
Don't misrepresent any facts. Bankruptcy is a great opportunity to get your financial life back on track. Courts want to help meritorious debtors. There is little patience for people who try to take advantage or are not honest.
If you have a question about one of these issues, contact us and we can tell you if it is likely to be an issue for you.
Honesty
Whether due to job loss, illness, divorce or wages that simply do not keep up with increased cost of living, many individuals and families in Iowa find themselves in financial distress.
Constant phone calls, lawsuits, judgments, liens, wage and bank account garnishment, calls at work that can threaten your job security, foreclosure and eviction are all problems Iowa individuals and families find themselves in when overwhelmed with unmanageable debt.
Our Courts and Judges, the United States Trustee’s Office, the Panel Trustees, the Clerk of Court and your Attorney are all interested in assisting honest debtors in getting relief from burdensome debt, getting back on track financially, and planning a brighter financial future.
As a debtor taking advantage of this opportunity, you have an obligation to be completely truthful and cooperative with your attorney and in all other matters related to your case. You must fully and accurately disclose all of your assets, income and all claims you have against others and comply with all document or other requests of the Trustees. The success of my firm and my ability to continue to represent honest, well intended clients depends of my accepting only clients who will take a completely honest approach.
- Jeff Mathias
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