San Antonio Bankruptcy Lawyer

How to Avoid Common Bankruptcy Mistakes

Filing for bankruptcy is never a fun situation. The emotional and financial stress that accompanies it is often difficult to overcome, and can place an immeasurable amount of strain on your daily life. There are often many questions regarding the bankruptcy process, including whether or not you qualify, the difference between Chapter 7 and Chapter 13, as well as the timeline and benefits that surround it. It is a complex, intricate process that never involves anything less than a fully dedicated approach, as well as the legal support of an experienced San Antonio bankruptcy lawyer. It is, however, made much more difficult when you fail to avoid the common pitfalls avoided with the process.  

Many people assume that just because they are going to have their debts discharged, that they can simply run up a massive credit card bill. This is not the case. In the few months before filing for bankruptcy, if there are large charges to your bill, it can often lead to your discharge being denied, possibly even to criminal charges.

Other mistakes include:

• Draining your 401k in an effort to pay off your debts. This fund is usually protected during a bankruptcy. If you clean out this account, you will often still be left with bankruptcy and no retirement fund behind you.
• Waiting too long (or not long enough) to file. Waiting too long can cause undue stress as you deal with financial issues, but filing too early can cause just as much strain if you are going to immediately face more debt when you're done.
• Hiding certain assets from the judge. If you are found to be hiding assets, your case can often be complicated and you can find yourself in even hotter water than before.

The best thing for you to do when facing bankruptcy is to get the help of an experienced bankruptcy attorney at the Malaise Law Firm as soon as you can. By working closely with you and evaluating your case, you can breathe easier knowing we are helping you through safely, without the fear of committing one of these (the many more) mistakes that are possible with this complicated process. We will answer your questions and give you knowledgeable, specialized advice, helping you navigate these turbulent waters so that you can move forward into the next chapter of your life.

Contact a San Antonio Bankruptcy Attorney today if you are considering filing for bankruptcy.