Bankruptcy
is nothing short of a catastrophe in one’s life. But just like
every disaster, you need to remain calm, hire a Dallas
bankruptcy lawyer
and manage it to sway the outcomes in your favor.
Common
mistakes possible in Dallas bankruptcy filing
There
are many people who commit errors in the process of filing of the
bankruptcy which can result into some very disruptive and unpleasant
outcomes. Here are a few things that should be taken care of before
filing for the bankruptcy are:
1
– Furnishing incorrect information
A
bankruptcy proceeding needs transparency in financial data to the
trustee or the court. It is crucial that the information given to the
trustee or the attorney should be complete, accurate and honest as
far as possible. If any wrong information will be given, it will
result in criminal prosecution.
2
– Not filing tax returns
The
tax returns need to be filed along with the petition and schedules.
There is a probability that if the returns are not filed properly and
up to date, the ongoing bankruptcy proceedings may remain suspended.
3
– Person takes on more debt
It
is stipulated that you cannot take up more debt for 90 days after
entering into this petition. If you do so, then you may get sued by
the creditor upon finding out your bankruptcy status.
These
were the most common mistakes one makes when entering into bankruptcy
proceedings. Make sure to enlist the assistance of a Bankruptcy
Lawyer in Dallas to get the right legal course of action during such
difficult times.
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