Avoid all mistakes when filing the bankruptcy case

Published On May 16, 2019 | By admin | Business

If you have already made a decision for filing bankruptcy then you should get in touch with the bankruptcy attorney. In Hunstville, people file the case of bankruptcy for various reasons like divorce, unexpected medical expenses, etc. Financial crisis are another reason when you need to file a bankruptcy case in the court. Filing for bankruptcy involves several legal processes to be done which if not done appropriately can cause you trouble. Thus, it is always suggested to hire a Personal bankruptcy lawyer in Huntsville, Alabama so that you can avoid all mistakes and make the process of case filing fast.

Mistake to avoid during bankruptcy-

Filing the case under wrong chapter – there are commonly two chapters, chapter 7 or chapter 13 used for individual debtors. Both chapters are used for filing bankruptcy case but the process is totally different. So, before filing you should discuss the financial situations with your attorney and you should not jump on the process without getting the details about the chapters.

Failing to file the necessary paper work – filing the case of bankruptcy is considered as a critical process because it consists of a lot of paper work.  There are various kinds of forms that you have to fill and many documents that need to be submitted with bankruptcy petition which includes bank statement, tax return, etc.  So, you can also hire an attorney who will suggest you to complete all documentation and paper work for filing your case easily.

Transferring property before bankruptcy – you should not transfer your property before declaring yourself bankrupt because it seems suspicious.  If the transfer of your property is not fair and honest exchange then trustee might avoid the transfer and get the property back.  It is considered one of the most common mistakes that you make during bankruptcy. This mistake may result in losing the property, denial of your bankruptcy discharge, and criminal prosecution for bankruptcy fraud.

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