At the Denver bankruptcy law firm of George T. Carlson & Associates we often start a relationship with a client by clearing up common myths and misconceptions about bankruptcy. Understanding the Do’s and Don’ts can go a long way toward ensuring you make the most of the consumer protections afforded under the bankruptcy laws. Knowledge, is power, after all.
Too often, consumers who are struggling with debt go far too long trying to work it out on their own. In cases where creditors obtain judgments or liens, such procrastination is almost always caused by the uncertainty that comes from lack of knowledge. Our Denver bankruptcy attorneys believe every consumer struggling with debt deserves immediate access to experienced legal representation. It’s one of the reasons why we remain dedicated to providing free and confidential consultations to potential new clients who have questions about their rights.
Bankruptcy Do’s
- Do consult an attorney. Some of the best firms offer free and confidential consultations. Why would you not take advantage of this?
- Spend as much time as it takes gathering all information about your debts. The name of the creditor, their address, and current balance owed as a minimum. You want to include old court judgments, pending lawsuits, that old department store credit card that never got paid. Everything.
- Consult a law firm sooner rather than later. Don’t wait until you are getting court judgments and liens against your property.
- Seek bankruptcy protection if your wages are being garnished or you are being sued by creditors.
- File your tax returns.
- Obtain copies of your credit report from all three credit reporting agencies.
Bankruptcy Don’ts
- Max out your credit cards prior to filing. Or run up other debt thinking you can game the system.
- Don’t make any major purchases or file for cash advances prior to filing.
- Don’t decide to repay family and friends or other chosen creditors. This could result in their being sued by the bankruptcy trustee on behalf of your creditors.
- Don’t transfer money or property.
- Borrow from 401ks, IRAs or other retirement accounts to pay the bills. These accounts are protected from seizure during bankruptcy.
- Use a credit card to pay tax debt.
Contact a Colorado Bankruptcy Attorney Today
If you need bankruptcy assistance in Denver or would like more information, call George T. Carlson & Associates today at 303-789-1313 for a free consultation or contact us online. We are a debt relief agency. We help people file for bankruptcy under the Bankruptcy Code. Serving clients in Denver and throughout Colorado, including Aurora, Englewood, Lakewood and Boulder.
Denver Bankruptcy Help – 303-789-1313 – Free Consultation
