Filing for bankruptcy is a serious decision and you have to be very careful in your approach towards the same. The procedure is a bit complex. Therefore, make sure that you follow the following do's and don'ts:
The Do's
Following are some important things that you must DO.
You must take your case very seriously. You have the constitutional right to use it as a tool to get rid of the debts that you are unable to pay. While you are filing your petition, you have to be very honest and forthcoming in providing all the details. Make sure that the information that you are providing is accurate and has not been manipulated. Your purpose is to get a discharge from your debts and you may not be able to achieve that by concealing your assets or providing false data on your bankruptcy petition. Such things will only guide you into a much deeper trouble. While you are working with your attorney, you should try to provide all the details to them without concealing any facts. Even if it is embarrassing for you, your lawyer must know about it. You must work in full co-operation with your attorney. You have to make yourself available for him whenever he wants to discuss any issues regarding your case. Meeting with your creditors is an important part of the process. Before, you participate in such meetings, it is always better to seek advice from your attorney about how you should behave in the meeting. Last, but not the least, you must also consider the bankruptcy alternatives before you actually file your case. Credit counseling and debt consolidation are some of the best tools that can help you pay off your existing debts without filing your petition.
Don'ts
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Following are some of the things that you should not do.
You should not consider bankruptcy as an easy alternative to get rid of all your debts. Not all kinds of debts are dischargeable. Some non-dischargeable debts include Student loans, specific tax liabilities, etc. The meeting with the creditors must be held before filing the petition. You should not talk to them after you have filed your petition. Furthermore, any attempt from the creditors' side to contact you must be informed to your bankruptcy attorney. You should not keep any of the creditors out of the petition. Make sure that all of them have been included. The ones that are not mentioned in your petition will still claim their money even after you have been declared as bankrupt and you would be liable to pay them back. Do not try to misuse your filing by availing lots of credit cards or running up a huge amount of bills. Such attempts may dismiss your case, as the court may consider your bankruptcy case to be fraudulent.
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