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Bankruptcy Dos And Don’ts

Managing stress is difficult when you have run out of funds to pay off insurmountable debts. Should you dip into your retirement account to pay your mortgage or skip these payments? What are your best options for handling medical bills?

When your debt problems leave you with more questions than answers, it is time to reach out for help. For more than three decades, I have assisted individuals and families struggling with debt issues similar to yours. I am ready to help you find a legal solution that allows you to protect your financial future.

I am licensed to represent North Dakota and Minnesota residents in eastern North Dakota and in the northwestern Minnesota area. Please contact Cheryl Bergian Law Office today.

Bankruptcy Mistakes To Avoid

Using bankruptcy to discharge your debts is a complicated legal process. But, you can simplify matters by avoiding these bankruptcy mistakes:

  • Do not use your retirement account to pay off part of your debt. These accounts may be shielded from creditors during bankruptcy proceedings. You may be able to emerge from bankruptcy with your retirement savings intact, giving you some financial support in your golden years.
  • Do not accumulate new debt with luxury purchases, such as a car or nonessential items, before you file. Creditors can use your purchasing history against you when you file. You may not be able to discharge this debt through bankruptcy.
  • Do not attempt to hide your assets when you are filing. It is critical to be transparent and honest about your assets, property and debt during this process. Lying on bankruptcy paperwork could delay proceedings or lead to criminal charges.

Protect Your Financial Future By Taking These Steps

Deciding to file bankruptcy is never easy. However, if you take these steps, you may streamline this process, allowing you to rebuild your credit.

  • Locate and provide all necessary financial documents. I can help you determine what financial information is required for a Chapter 7 or Chapter 13 filing.
  • Be strategic about which debt you will pay during bankruptcy proceedings. If you need to get to work and don’t have access to public transportation, it may be critical to make car payments. Creditors may not be able to seize certain assets or possessions, so it’s important to know what you may be entitled to keep before you let payments lapse.
  • Pay your insurance bills. If you are able to pay your medical and car insurance bills, your insurance policies can cover a good portion of health care expenses or car accident claims.

Wondering If Bankruptcy Is Right For You? Consult With Me For Free.

I offer free, initial consultations because I want you to understand your options before you act. You can schedule your 30-minute phone consultation by clicking on this link. To arrange a 45-minute phone consultation, click here. Or, you can contact my Fargo office via my online contact form or by dialing 701-297-2501.

My firm is a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.