Bankruptcy Do's and Don'ts

Bankruptcy Tips From an Attorney Serving Wayne County and Detroit

If you choose to file for bankruptcy, there are several things to be aware of when it comes to the things you should and should not do. The way that you act and the things that you due can damage or help your bankruptcy case significantly. If you have further questions regarding bankruptcy in Michigan, feel free to contact Bryant, Logan, Wheeler Law Group, PLC for help!

Things that you should DO in Bankruptcy

The first thing to note is that you need to take this process seriously. Bankruptcy is serious and it is a privilege that you cannot abuse. Secondly, honesty is very important when going through bankruptcy and being dishonest can hurt your case later one. A quick list of guidelines for things you should do include:

  • DO inform your creditors that you are having financial problems, they are often more willing to work with you if you are open and honest about your struggles
  • DO team up with a skilled bankruptcy attorney in Wayne County for help through the process
  • DO be honest with your attorney and in all bankruptcy proceedings
  • DO provide your attorney with everything involved in your bankruptcy, including all files and documents
  • DO continue to make payments on the things that you can afford and intend to keep
  • DO have goals and realistic expectations that you are seeking in your bankruptcy
  • DO have your agreements made in writing so that they are enforceable and protected

Things you should NOT DO in Bankruptcy

It is very important to follow the guidelines of what you should do throughout the bankruptcy process. Equally as important, if not more important, are the regulations of what you should not do when going through bankruptcy. You do not want to jeopardize your case by doing something unwise. Some of the things you should not do in bankruptcy include:

  • DON'T wait to take action, the sooner you act the better
  • DON'T trust debt collectors- know your rights
  • DON'T talk to your creditors after you have filed, let your attorney speak for you
  • DON'T make any preferential payments to your family or friends before you file
  • DON'T run up bills before you file for bankruptcy, this can be seen as fraudulent and harm your case later on
  • DON'T leave out any creditors on your bankruptcy petition
  • DON'T try to transfer your property into another person's name in an attempt to hide it, this can be seen as fraudulent and lead to the dismissal of your bankruptcy case
  • DON'T try to sell your property for a smaller amount than it is worth
  • DON'T borrow any money on your home in an effort to pay your unsecured debts

People run into trouble when they try to perform sly acts against the court. If you defraud the court in any way, your case may be dismissed and you could be prosecuted for fraud. Also, it is in your best interest to not have false hopes of what bankruptcy can do for you. While there are many benefits to bankruptcy, do not expect it to fix all of your financial problems if that is an unrealistic fantasy.

Looking for a bankruptcy attorney in Wayne County or Detroit?

You need to seek representation from the best bankruptcy lawyer serving Wayne County and Detroit. Bryant, Logan, Wheeler Law Group, PLC has more than 50 years of legal experience and can help you in your case. We know the ins and outs of bankruptcy and we can help you take the necessary steps while avoiding the things you should not do. Contact our bankruptcy attorneys in Wayne County to schedule your free case evaluation today!