Bankruptcy Attorneys in Las Vegas NV | Bankruptcy Lawyers in Las Vegas NV

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BANKRUPTCY / PERSONAL INJURY

Bankruptcy Attorneys in Las Vegas NV

Bankruptcy Lawyers in Las Vegas NV | Attorney Bankruptcy Las Vegas NV

Here is a list of the things you shouldn’t do before filling:

Don’t pay any unsecured debts without first getting advice from your bankruptcy lawyer in Las Vegas. If you pay too much to any one creditor, you can wind up with preferential payments, which could cause your case to be open for quite some time while your trustee tries to get that money back. Besides, you’re going into bankruptcy to get debts discharged. Why pay on debts that will go away shortly?

Don’t make any gifts or transfer any property to others as a way to keep things from your creditors. Your bankruptcy trustee can take them back from whoever you gave them to—and you could be denied bankruptcy protection because you tried to cheat.

Don’t ignore lawsuits. While a lawsuit isn’t the end of the world, it is something you need to deal with. Your bankruptcy attorney in Las Vegas has a number of options to help with these, but watch your deadline to respond and take action as soon as possible.

Don’t fail to tell your bankruptcy lawyer in Las Vegas about any property you own, no matter how worthless you think it is. You must disclose all your assets during a bankruptcy. Fraudulently and knowingly failing to do so can result in your bankruptcy petition being denied. It is also a felony that can result in heavy fines and even a jail sentence.

Don’t make any unusual contribution to your 401(k) or retirement account. This could be considered an attempt to unfairly keep assets out of creditor’s hands.

Don’t withdraw any money from your 401(k) or retirement fund. Retirement funds are normally protected from your creditors, so keep them safely in there. Once you withdraw money from your retirement fund, it is not exempt and could be divided and given to your creditors.

Don’t sell your home or move out of it. You will get some type of exemption for what’s called your “homestead,” depending on the state you live in. if you sell, the money you earn from the sale could be divided and given to your creditors. If you move out, you may lose the homestead exemption, as that house is no longer the place where you and your family live.

Don’t wait until after a foreclosure on your home to file bankruptcy. Bankruptcy can stop a foreclosure and may allow you to keep your home if you act quickly. If you can’t keep the house, at least surrendering it in bankruptcy can prevent tax liability resulting from the foreclosure.