Common Mistakes

Do-it-yourself bankruptcy filing

Adding last-minute debt

Transferring property

Liquidating pensions

Common Mistakes Made by Bankruptcy Filers

Choosing to file bankruptcy may be one of the most important decisions of your life — which is why it's important to make sure you avoid these common bankruptcy mistakes prior to filing.

At Equal Justice Law Group, we have handled thousands of bankruptcy cases over two decades, and we've just about seen it all when it comes to common bankruptcy mistakes.

What we present here are some of the more common bankruptcy mistakes people make prior to filing bankruptcy – mistakes which complicate and harm a smooth bankruptcy case.

If you have questions about bankruptcy, don't hesitate to contact us at Equal Justice Law Group.

With offices in Jackson, Placerville and Sacramento, we're nearby and ready to serve you.

And as always, your case evaluation and initial consultation are both confidential and absolutely free.

Starting Off Wrong

We see it all the time: the person who attempts to file their own documents in court for a bankruptcy (almost never getting it right; it's a complex procedure).

Also not good: using a legal document service, as opposed to a qualified attorney. You've seen the ads on TV or heard them on radio; there's a reason for the low price.

And of course, possibly worst of all: retaining an attorney without extensive bankruptcy experience. It's like hiring an auto mechanic to perform dentistry.

Adding Debt Before Filing

Planning on going on a spending spree prior to filing bankruptcy? Think again. It's one of theworst things you can do. Debts incurred 90 days prior to initiating a bankruptcy are not dischargable. Bottom line: you will be on the hook for all of these debts.

Transferring Property

Thinking of signing over the title to property like a home or vehicle to someone else prior to filing for bankruptcy? Think again.

The courts view this as fraudulent conveyance, and just as the term implies, it's a very serious thing in the eyes of a bankruptcy judge. Simply put, don't try to shield assets from consideration in bankruptcy.

Other Financial Maneuvers

Don't liquidate your retirement pension funds, or take out a second mortgage, prior to filing for bankruptcy. We understand many people feel these are “responsible” things to do, but the fact is California has exemption protection for most pensions and some or all of your equity.

There is no need to liquidate or convert assets prior to filing.

Bankruptcy

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Creditors use their attorneys to fight against you to try and garnish wages, sue you, put a lien on your real estate, or levy your bank accounts. Our experienced team is equipped to protect you from collections and get you a fresh start.

Divorce

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Sadly, a divorce can be one of the most emotional experience in one's life. We offer experienced guidance and aggressive representation to navigate you through this complex so you know what to expect and that your rights are protected.

Estate Planning

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Protecting your lifetime of hard work to take care of your family requires proper planning. Our team asks questions and listens carefully to your concerns, so you can be assured that your goals are met and your family is secure.