There are a number of things that you should not do when you are seeking to file for bankruptcy. It can be tempting to do any number of the following, however it is highly recommended that you do not. When filing for bankruptcy, there are a number of rules that come into play, and you may get caught in a situation that is exactly the same as before you filed.

Those seeking to file bankruptcy should avoid:

• Purchasing Luxury Goods – Purchasing luxury goods that equal more than $500 are non-dischargeable if purchased within 90 days of filing.
• Taking Cash Advances – Taking a cash advance within 70 days of filing is non-dischargeable if the amount is greater than $825.
• Hiding valuables – If you get caught hiding your valuables, they will most definitely be seized. Those who file for bankruptcy usually have the ability to keep the assets they wish to hold on to, but only if they are disclosed up front.

These are just a few things to avoid when looking to file for bankruptcy. If you are looking to file for bankruptcy, please contact us today.