Bankruptcy Attorney In Florissant Mo | What not to do before filing for bankruptcy.

bankruptcy attorney in Florissant Mo

What not to do before filing for bankruptcy.


Choosing to file for bankruptcy can be a scary and daunting decision, but sometimes it’s the only option. It can be a good in fact when you are crushing a debt load. However, you must stay vigilant if you wish to reap the benefits of bankruptcy. The last thing you want is to make any more innocent or accidental mistakes. That’s why we advise consulting Charles H. Huber a bankruptcy attorney in Florissant, Mo, to help you with all your bankruptcy needs. Here are a few tips of things you should avoid before declaring bankruptcy.


Racking up new debt

You might be thinking, “hey, I am already in a financial crisis, why not rack up new debt on my credit cards? The bankruptcy filing will just wipe your debt, after all? won’t it?” Well, no. The bankruptcy court might slam you with a “presumptive fraud” charge and refuse to discharge your debts, especially if you spent the money on a luxury item.


Moving assets

You might be considering transferring some of your assets to a friend or family member to protect them. This is one of the worst mistakes you could make. Such a transfer could jeopardize your case and chances are your filing will get denied. Worst of all, you could even face criminal charges. In short, it’s unlikely that the risk will worth any perceived reward.



Failing to file taxes

If you haven’t been filing your taxes in the two years before declaring bankruptcy, your bankruptcy case could become a tad too complicated. Tax returns allow the bankruptcy court to determine your asset holdings as well as your current and past wages. If you haven’t been filing them, the court is likely to dismiss your case.


Providing inaccurate information

The court will expect you to provide complete and accurate information about all your assets on your bankruptcy paperwork. If you intentionally misrepresent your assets, you case could be dismissed.   Furthermore, you could be subject to criminal penalties, including fines, a prison sentence or even both


Depleting your retirement funds

It can be tempting to drain your retirement or emergency fund to pay off some of your debts before you start the bankruptcy process. This can turn out to be a colossal mistake and frankly speaking, it’s not necessary. You can protect most of your retirement funds during the process. Plus, declaring for bankruptcy will probably help you discharge the debt you are trying to pay off with your retirement funds.



Filing for bankruptcy might not solve all your problems. But it can offer you the breathing space you need to get your finances in order and bring you back from the brink of financial demise. If you think declaring bankruptcy might be the best option for you, you should consider consulting our bankruptcy attorney in Florissant, Mo. Charles H. Huber is an experienced bankruptcy attorney and can guide you based on your unique situation. Give us a call today.