Home

Florida bankruptcy services paralegal petition preparer chapter 7 chapter 13  file bankruptcy debt relief
Bankruptcy is NOT a dirty word!

FLORIDA

727-322-5881

TOP 10 BANKRUPTCY MISTAKES

Are you guilty of committing at least one of the following top 10 credit mistakes?   If so, you're in good company because most people have committed at least one big credit related mistake in their lives - even if they are not aware of it. 

1.  Denial.  Waiting too long to file Chapter 7 bankruptcy will only make things worse and allow creditors to sue, get a judgment against you, and then garnish your wages or bank account.

2.  Giving creditors or collection agencies access to your bank account or credit card.  This postpones the inevitable & often results in unauthorized payments.

3.  Getting a second mortgage to pay off unsecured debt (credit cards, medical bills, etc.).  Why finance unsecured debt?

4.  Using your 401k or IRA to pay off debt.  These assets are protected in the bankruptcy court and withdrawing funds from these accounts could result in a huge tax liability. 

5.  Using a debt management agency.  Most actually work for creditors (not debtors) & repayment plans are often designed to generate agency fees & inevitably fail.

6.  Reaffirming an unaffordable debt.  This usually applies to vehicles & homes with negative equity.  

7.  Failure to list all assets or transfer assets to others (especially vehicles or real property).   This is a big mistake people make out of fear of  losing their property.  Don't do it as 30% of all bankruptcies are audited by the Justice Department & transfers will not go unnoticed.

8.  Failure to list all debts.  The court cannot discharge debts that are not properly listed therefore you must list all creditors & collection accounts.

9.  Using credit cards within 3 months of filing bankruptcy for luxury purchases, cash advances, or balance transfers.

10.  Not getting your free credit report.  Your debts may have been sold or or transferred to collection agencies.

Our #1 rule is always pay cash & take advantage of sales (especially for high dollar items such as televisions). 

Our #2 rule is to pay off your mortgage early!  If you pay an extra principle payment each month it wipes out 3 interest payments.  You could have your home paid for in 10 years.

Find Liens & Lawsuits
official court records

Hillsborough County

Manatee County

Pasco County

Pinellas County

Our mailing address is:
Florida Bankruptcy Services
PO Box 66645
St. Pete Beach, FL  33736

 Serving Pinellas, Hernando, Hillsborough, Pasco & Manatee counties

Bradenton, Brandon, Clearwater, Dunedin, Kenneth City, Largo, Madeira Beach,
New Port Richey, Palm Harbor, Pasadena, Pinellas Park, Plant City, St. Petersburg,
St. Pete Beach, Seminole, Tampa, Tarpon Springs & much more!
 

© 2009, 2010 Florida Bankruptcy Services