Alternatives To Bankruptcy
Don’t Derail Your Chance for Debt Freedom
If you are even considering bankruptcy, an attorney experienced in this area of the law can help you strategize your bankruptcy filing and avoid mistakes that would void or delay your discharge of debts.
Stamps & Stamps, Attorneys at Law, has helped thousands of individuals and families achieve debt relief through bankruptcy. We offer a free, exploratory consultation to discuss your financial situation and whether bankruptcy is the right solution at the right time.
Your Roadmap to Financial Freedom Here | Dayton Offices: (937) 247-6447 or Toll Free: 877-782-6770 | Free Initial Consultation | E-Mail Us
Bankruptcy Mistakes to Avoid
Attorney Eric Stamps handles Chapter 7 and Chapter 13 consumer bankruptcies in the Dayton area and surrounding counties of Ohio. He can identify any problems with your petition and address solutions, such as delaying your petition to avoid issues relating to the timing.
Below are some of the most common mistakes that people make, either innocently or by trying to game the system. From experience, we know that these mistakes can be fatal to your chances for elimination of debts and relief from creditors:
- Do not pay back friends or relatives prior to filing for bankruptcy. This will be viewed by the Bankruptcy Court as illegal preference, as opposed to paying back all creditors equally. Preference payments can delay or prevent your bankruptcy discharge. The court may take action to retrieve any money paid to family or friends as far back as one year.
- Do not transfer property or give away property to friends, family or a business entity in advance of filing for bankruptcy. It is illegal to sign over your car, luxury items or anything else that would be forfeited in a Chapter 7 bankruptcy. Transfers within a year prior to filing may be considered bankruptcy fraud; you could forfeit the asset, void your bankruptcy petition and/or face criminal charges, along with any party who received property or aided the scheme.
- Do not run up credit cards or debts in the months before filing. Spending sprees, cash advances or large purchases within 60 to 70 days will make those debts ineligible for discharge and may derail your bankruptcy entirely. The bankruptcy trustee might also force you to turn over recently purchased goods.
- Stop making payments on assets you intend to forfeit. If you plan to surrender your home, your vehicle, your boat or other property, continuing the payments is just throwing away money. There is also no benefit to making payments on credit cards, medical bills and other unsecured debts that will be discharged.
Get Advice From an Experienced Dayton Bankruptcy Lawyer
Stamps & Stamps, Attorneys at Law, offers a free initial consultation to answer your questions about bankruptcy. Call us at (937) 247-6447 or 888-435-0085, or contact us online.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
Bankruptcy Overview
- Alternatives To Bankruptcy
- Avoiding Auto Repossession
- Avoid These Bankruptcy Mistakes
- Bankruptcy And Credit Card Debt
- Bankruptcy And Medical Bills
- Chapter 13 Bankruptcy
- Chapter 13 vs. Debt Consolidation
- Chapter 7 & Chapter 13 Differences
- Chapter 7 Bankruptcy
- Discharging Lawsuits & Judgments
- Filing Bankruptcy A Second Time
- Preventing Utility Shut-Off
- Preventing Wage Garnishment
- Stopping Creditor Harassment
- Stopping Home Foreclosures
- The Bankruptcy Process
- Your Credit Rating After Bankruptcy
- Bankruptcy FAQs
- Can I Discharge Student Loans?
- Can I Discharge Taxes?
- What Are The Dangers Of Falling Behind On Business Taxes?
- Is Bankruptcy The Right Choice For Me?
- What Exactly Is An Offer In Compromise?
- Does My Spouse Have To Be Listed On The Financial Form We Turn Into The IRS?
- Should Spouses Both File?
- What About Secured Debts?
- What Property Can I Keep?
- Will My Employer Know I Filed?
- Bankruptcy And Divorce
- Bankruptcy & Divorce Article