Preparing for Bankruptcy

Answer:

Sometimes, when I meet with a client, they will ask me what they should do to prepare for filing bankruptcy. Believe it or not, probably the best answer is nothing. What I mean by that is human nature would tell us this is my opportunity to pay off my friend or my family member, or to move assets out of my name, and that is the absolute worst thing that a client can do. The reason is because it draws the scrutiny of the court, the trustee, and the creditors, causes unnecessary complication, and ultimately solves no problems.

The best thing a person can do when considering bankruptcy is to pick up the phone and give us a call. Let’s schedule a time to sit down and go over your finances to determine whether or not you’re even a good candidate for bankruptcy. If there are things that could be done, I would certainly recommend what those are at the time of our consultation. Give us a call; we’re happy to help.