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Bankruptcy: What not to do!

Before filing bankruptcy you have to double-check whether you need this or not! This presentation includes a few mistakes you have to consider before going for a bankruptcy proposal!<br>

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Bankruptcy: What not to do!

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  1. Bankruptcy; Bankruptcy; What not to do?! What not to do?!

  2. Introduction Bankruptcy is a legal process, through which a person or other entities seek relief from some or all of the debts when they couldn’t repay it! Before filing bankruptcy you have to double-check whether you need this or not! The following are a few issues you have to consider before going for a bankruptcy proposal! ★ ★ ★ ★

  3. 1. Don't rush You can only receive a bankruptcy discharge; ★ ★ Once in an 8 years or Six years after filing a chapter 13 bankruptcy!

  4. 2. Never empty your retirement fund You can ensure most retirement assets in insolvency. Accordingly, one of the financial decisions that individuals consistently make before petitioning for financial protection is pulling back retirement assets to take care of obligation that chapter 11 could clear out ❏ ❏

  5. 3. Be honest on your information Never produce dishonest or incorrect information. You're required to give under punishment of prevarication complete and precise data pretty much the entirety of your benefits, obligation, salary, costs and money related history. If you purposely misrepresent your information, you could be dependent upon criminal punishments and penalty! ❏ ❏

  6. 4. Don't make new debts If you added to new debts during the 70 to 90 days before declaring financial insolvency, be careful, the leaser may protest your release by contending that you took out the advance with no goal of taking care of it! ❏ ❏

  7. 5. Don't move assets and never selectively repay loans Don't hide or try to transfer your assets before filing bankruptcy! Also, avoid repaying only a few loans selectively! ❏ ❏

  8. 6.Never fail to file income tax In case you should document charges, be that as it may, yet haven't done as such for the two years before seeking financial protection, you'll run into issues. So don't fail to file income tax returns! In case if you already did any of the above-listed mistakes, immediately consult a bankruptcy expert attorney! ❏ ❏ ❏ ❏

  9. REFERENCE https://sites.google.com/view/bankruptcy-ca/home?authuser=2 ★ ★

  10. THANK YOU!!

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