If you are thinking about hiring Chapter 7 bankruptcy attorneys in Philadelphia and filing bankruptcy, you may think that you can do whatever you want with your money beforehand. However, this isn’t the case. In fact, there are some serious mistakes that may cost you in the long run if you aren’t careful. Learn about some of the most common mistakes to avoid prior to filing bankruptcy here.
Avoid Running Up Your Credit Cards
After making the decision to file bankruptcy, you should stop using all your credit cards. If you wind up charging over $600.00 in various luxury services or goods within a period of 90 days prior to filing, then the court may order you to pay all of the charges off. Additionally, the court can require you to pay back any cash advances of more than $900.00 if they are made 70 days prior to filing.
Avoid Repaying Your Family Members
If you wind up paying any family member over $1,000.00 the year prior to filing bankruptcy, then the trustee can sue the person for the amount of money paid. The more you pay, the more likely they will be sued. Make sure to speak with Chapter 7 bankruptcy attorneys in Philadelphia to fully understand the extent of this law.
When you are aware of what can go wrong, you will be in a better position to avoid jeopardizing your fresh financial start. Make sure to keep the tips here in mind and contact Chapter 7 bankruptcy attorneys in Philadelphia for further assistance with the process.
If you are thinking about filing bankruptcy, visit The Law Offices of David M. Offen website to learn more.