There are a few things you need to know before filing for bankruptcy. One of them is that doing anything fishy will get you in trouble with the authorities. In this case, the judge handling your application may recommend different penalties, including dismissal of your application. The state might also prefer criminal charges against you, and you might have to pay a hefty fine or spend years in jail for your mistake.
Therefore, even if you're desperate to qualify for bankruptcy, you must ensure that every strategy you use is within the law. Learn from the following errors before filing for bankruptcy.
Failing to Provide Accurate Information About Your Wealth
The law requires that you provide accurate information about everything you own before filing for bankruptcy. That is because it helps the authorities to assess your ability to pay off your debts. Therefore, if you don't provide correct information, they may assume that you're avoiding your financial obligations. As a result, the officials might dismiss your case or prohibit you from filing insolvency in the future.
Apart from that, your craftiness will arouse suspicion, making the officials dig deeper into your records. It may get you into more trouble if you've kept any other information from them. That is why you should be faithful when declaring your wealth.
Giving Away Your Belongings
Though you can give away some assets in the faith of getting them back later, it is a huge mistake. While it could help you qualify for bankruptcy, you can lose your stuff in the process. That is because the items will not appear in your list of assets, and the money will not appear in the liabilities column. Therefore, you may not be able to legally get them back in case the people you gift claim ownership of the stuff. The only way to prevent this from happening is by using legal strategies when giving out items.
Not Hiring Professional Legal Services
Failing to get professional legal services is an oversight that could be costly later. Besides, you might not know the option to choose and how to protect your assets. A bankruptcy lawyer will help you get the best outcome in these situations. They will explore different legal options, ensuring they use the most effective ways to convince the court that you're incapable of paying your debts.
As you can see, so many things can go wrong in a bankruptcy filing if you decide to handle the process yourself. For this reason, leaving the process to a legal advisor or lawyer like Harold S. Entes Esq. is the best decision. They will ensure that your application is successful, enabling you to financially get back on your feet.
I'll be up front: I have a criminal record. As someone who's spent lots--and lots--of time looking for a job in my life, I've gotten used to being up front with this fact. It's difficult to get hired with this on my record, and frankly, it never gets less scary to have to tell an interviewer about it. But that doesn't mean I'm unemployable. I'm a hard worker who can bring a lot to any company. And I also know what an employer needs to do for me. I know my rights. There's no federal law protecting me from discrimination due to my record, but there are plenty of state laws that make it a little easier for me. If you're looking for a job and you have a criminal record, read through this information. Protect yourself during a job search. Know your rights.