Thirty-Three DONTS in Preparing to File a Chapter 7

  1. Don’t leave out Bank, Checking, Savings, Brokerage, Credit
    Union accounts.
  2. Don’t forget to list assets in joint names
  3. Don’t use your credit cards.
  4. Don’t take Credit Card Cash Advances.
  5. Don’t use convenience checks.
  6. Don’t do balance transfers.
  7. Don’t pay money to Family.
  8. Don’t pay money to Friends.
  9. Don’t tell a creditor that you intend to pay,
  10. Don’t throw away necessary financial records.
  11. Don’t file if you are about to receive a tax refund or inheritance.
    Discuss the timing with your attorney.
  12. Don’t fail to tell your attorney about your small business, sole
    proprietorship, partnership, LLC, LLP, LC, corporation, or hobby.
  13. Don’t purchase a home shortly before filing bankruptcy without
    consulting your attorney.
  14. Don’t give or gift property to anyone.
  15. Don’t pay any past due bill from any unsecured creditors.
  16. Don’t transfer property to anyone.
  17. Don’t cash out retirement plans or 401k’s.
  18. Don’t take out a second mortgage.
  19. Don’t gamble.
  20. Don’t hide assets or debts.
  21. Don’t take out “payday loans”.
  22. Don’t put your money in your kids’ bank accounts.
  23. Don’t omit or ‘save’ a credit card for after your bankruptcy.
  24. Don’t fail to list debt to family or other “insiders.”
  25. Don’t write bad checks.
  26. Don’t borrow money.
  27. Don’t forget to tell your attorney about liens you may have on
    your home or unpaid judgments so they can be avoided.
  28. Don’t make major financial decisions without talking to your
    attorney.
  29. Don’t get married before filing if your spouse has a high income.
  30. Don’t misrepresent facts to your attorney.
  31. Don’t run up your credit cards in advance of filing bankruptcy.
  32. Don’t fail to appear at State court hearings, trial or proceedings;
    coordinate with your attorney.
  33. Don’t hide from your attorney.   Keep them up-to date with your
    address, phone number and email address.
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