The Dos & Don’ts of Bankruptcy

We frequently get the question, “What do I need to bring with me to my first appointment?”  Here at Gudeman & Associates, we are determined to aggressively fight for your right to bankruptcy and to start down the path to a debt free future. With that, we do need to determine which bankruptcy is right for you.

The more information that you can provide to us at your initial consultation, the better.

Do bring the following items to your first onsite consultation:

  • Credit Reports
  • Statements of Current Creditors
  • Proof of Income (payroll check stubs)
  • Bank Statements
  • Federal and State Tax Returns (going back three years)
  • Correspondence with any Tax Authority
  • Copies of Mortgage Documents as Recorded (primarily for Chapter 7)
  • Mortgage Closing Documents
  • Proof of Homeowners and Automobile Insurance
  • Vehicle Title(s) (cars, motorcycles, motor homes, ATVs)
  • Photo Identification (preferably a state driver’s license)
  • Pension Information (IRAs and qualified plans)
  • Life Insurance Documents
  • Copies of Judgments, Lawsuits, Garnishments or Levies
  • Property Liens/Mechanics Liens
  • Copies of the most recent statement from all your creditors

The more of these documents you have, the better, but do not let any missing documents deter you from contacting us.

Do Call Us Now at Gudeman & Associates at (248) 546-2800 to arrange for your free, no obligation consultation with one of our attorneys.

The Don’ts

Don’t pay any bills up to 90 days before filing for bankruptcy

DON’T PAY ANY BILLS WITHIN 90 DAYS BEFORE FILING FOR BANKRUPTCY.  IN MOST CASES, AMOUNTS PAID TO CREDITORS WITHIN 90 DAYS OF FILING AND WHICH TOTAL MORE THAN $600.00 CAN BE CONSTRUED AS “PREFERENCES” AND RECOVERED BY THE TRUSTEE IN BANKRUPTCY.  IN OTHER WORDS, YOU WILL BE WASTING YOUR MONEY IF YOU MAKE SUCH PAYMENTS.

If you are seriously considering bankruptcy, you should be focusing on putting food on the table for your family. You should not be worried about the bottom line for your creditors.

Don’t make any luxury purchases on credit up to 90 days before filing for bankruptcy

Going to the Porsche dealer and leasing one of the fastest street legal vehicles on the road will not be dischargeable. The same goes for your credit cards.

Going out buying that dream boat for the lake during that time period is also a “Don’t.”

Don’t borrow any money from lenders up to 90 days before filing for bankruptcy

We had a client come to us once, who decided to stop off at his bank and get a loan for $5,000 on his way to see us to file bankruptcy. As enticing of an idea as that may sound, debt incurred within the 90 days leading up to bankruptcy usually cannot be discharged.

Don’t listen to your uncle/friend/neighbor/etc. PLEASE    (See 15 Myths about Bankruptcy)

Each case is different. The circumstances that your uncle or friend, or neighbor, or whomever had, may be drastically different than your own. Call Gudeman & Associates, the experts on bankruptcy, so we can do what is best for you and your situation. We’re here to help. And remember;

Don’t listen to any of those radio pundits that tell you bankruptcy is not good for you

The truth is that even if they did not have a good experience in bankruptcy, does not mean that you won’t. Their circumstances were undoubtedly different than yours. But the best way to find out what to do is to call us.

Bankruptcy may be the right solution for you.

Know your options.

Call (248) 546-2800 for a no obligation consultation