What You Must Know About Pre-bankruptcy Mistakes- Michael Levitis

By Author: Michael Levitis
Total Articles: 13
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When people file for bankruptcy, they rarely take into consideration their recent activities especially those related to financial issues. However, these very activities might cause great distress to them in the court of law, after they have put in a petition for bankruptcy. As such it is vital that before you file for bankruptcy, you seek the advice guidance of a reputed and experienced bankruptcy attorney or law firm. People in and around Brooklyn and New York can easily seek the advice of the Law Office of Michael Levitis which is known for its years of experience in bankruptcy cases and also for providing genuine advice and guidance related to bankruptcy procedure.

If you intend to file for bankruptcy, you need to take into consideration some past activities that can prove fatal for you in the court. Given below is a list of some common mistakes that people tend to make before filing for bankruptcy.

1. Repaying the debts owed to family or friends that are more than $600 in value, not too long before you file for bankruptcy might be objected to by the court and the bankruptcy trustee.
2. If you have ...
... taken advance in cash or have used the credit card right before you file for bankruptcy, it might cause the court to doubt your legitimacy and might even lead to the dismissal of your petition.
3. Never try to transfer, donate or hide any assets as it will surely put a big question mark on your intentions and will definitely impact your case in the worst possible manner.
4. Before you choose to file for bankruptcy, make a list of your total income and reasonable expenses. If the income is even slightly higher than your expenses, try to look for other alternatives to become debt free.

Only a seasoned and reliable law firm like the Law Office of Michael Levitis educates and forewarns their clients about these issues that can hinder their petition.

To learn more about the various bankruptcy and debt settlement services offered by them, logon to their website at www.levitislaw.com.