Bankruptcy Tips
Do: Feel good about yourself
because you're taking the first step towards fixing what's broken.
It's normal to experience negative emotions when
considering bankruptcy. But you should give yourself some credit
too. Most people just do nothing and let things get progressively
worse. But smart people take action and make decisions that bring
them closer to solving their problems. Right now you're learning
about your options, and that's a good first step towards fixing what's
wrong.
Do Not: Wait until the absolute last minute to file bankruptcy or speak
to an attorney.
No one wants to file bankruptcy, but waiting until you are at the
breaking point before seeking bankruptcy advice can cause devastating
problems.
Doctors have a much easier time helping patients when they begin
treatment in the early stages of the disease. The same is true for
bankruptcy lawyers. The earlier you ask for help, the more likely
it is you will have a good outcome.
Do: Realize that all bankruptcy
attorneys are NOT the same.
There can be major differences between different
bankruptcy lawyers and bankruptcy law firms. Make sure the attorney you
choose: 1) Has the experience to handle your case properly; 2) That they
care about what happens to you and your family; 3) That you trust them;
3) That they have no complaints against them with the bar association;
4) That they will care for your emotional as well as legal needs through
this difficult time; 5) That they will return your calls promptly and
will answer your questions thoroughly; and 6) That bankruptcy is the
ONLY type of law
they practice, not just something they do from time to time to
supplement their other non-bankruptcy cases.
Do Not: Believe the credit-card industry when they tell you
bankruptcy is no longer available.
Bankruptcy protection for deserving individuals
and families is still widely available. Filing under the new bankruptcy
law is more complex than filing under the old law, but an experienced
bankruptcy attorney can help guide you through this bankruptcy maze.
Do Not: Lie to or think you can trick the bankruptcy
court.
This is a formula for disaster. Bankruptcy judges in the Dallas - Fort
Worth area are not sympathetic to people who commit bankruptcy fraud.
You could have your bankruptcy case dismissed and even be sent to jail
for bankruptcy fraud!!!
Do Not: Transfer assets into your family or friends names
prior to a bankruptcy without first talking to your bankruptcy attorney.
Putting a car, house, or other asset into someone
else's name to try and keep it from your creditors could be considered a
fraudulent transfer under the Bankruptcy Code. This is illegal and
often unnecessary in the Dallas - Fort Worth area because most people's
assets are already protected from creditors under Texas and Federal
laws. Always consult with a bankruptcy attorney before
transferring any assets.
Do: Be direct and honest with your lawyer.
We can only fix a
problem if we know it exists. If you withhold information, it
may damage your case later. By then it may be too late to fix the
problem.
Do Not: Payback loans to friends or family members prior to a bankruptcy
without first talking to your bankruptcy attorney.
Paying back family members before other creditors
could be considered a preferential payment. A bankruptcy trustee
could sue your friends or family members to get that money back.
Ask your attorney before paying back these types of loans. You
will be able to pay friends or family members back, but it must be timed
properly.
Do Not: Use your credit cards after deciding to file
bankruptcy.
Purchasing goods or services with a credit card
while knowing you will not pay them back is bankruptcy fraud and could
have very serious consequences. Once you are sure you will file
bankruptcy you must stop using your credit cards.
Do: Find out
what other
people have to say about the attorney you are considering hiring.
The experiences of former clients
can be a good predictor of how your case will be handled.
Do Not: Think filing bankruptcy makes
you a bad person.
There is nothing immoral about filing bankruptcy
if you do it properly. No one wants to have open-heart surgery,
but if you must have it to improve your health then you do it.
Bankruptcy is the financial equivalent of open-heart surgery. You
avoid it if you can, but if you can't then you let it improve your
financial health.
Bankruptcy, morality, and religion can co-exist peacefully if you're
smart about how you file and do it right.
Do: Insist on dealing directly with an ATTORNEY, not
support staff.
Filing for bankruptcy is a very significant financial, emotional, and
legal step. You deserve, and should demand, to speak directly with a
bankruptcy attorney about your case. Secretaries and paralegals, no
matter how nice or professional, are not an appropriate substitute for a
one-on-one interaction with an experienced bankruptcy attorney. At
the Law Offices of John Saitis you will speak with a bankruptcy attorney
the very first time you call our office.
