Back in 1999 my father started his own business. He and his partners had high hopes in making it successful and they did it! The business became a popular T shirt company in the area. From there, it grew into a multi-million dollar business. Unfortunately, my father didn't keep a close watch on his partner. He and his wife began misusing profits.
As time went on, the company lost money. My father got his wake-up call when it was too late to do anything to resolve his situation.
After numerous arguments and sleepless nights, my Dad decided to call it quits. His business and his friendship with his partner was over. They both knew they only had one solution and that was to file bankruptcy.
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Quite a few mistakes were made on my father's part as far as resolving this situation. If he only knew then what he knows now, he would have hired an attorney to take care of the mess.
Here are 3 Bankruptcy Blunders that my father made:
1. Did a Credit Card Binge one month before filing his bankruptcy.
2. Repaid relatives who he owned money from 2 years earlier.
3. Transferred balances from one credit card company to another.
4. Used his credit cards to pay his taxes.
5. Tried to file on his own without the backing of an experienced attorney. His case was dismissed.
Don't even think of filing Bankruptcy on your own. It's downright not the smartest thing to do ( going it alone ) without the advice and the formal legal representation of a law firm. There are just way too many intricacies associated with bankruptcy law for the lay person to even digest.
Do your homework and search for a reputable firm who knows the ropes ( so to speak ) who you can inform you if indeed bankruptcy is even the right thing for your particular situation!
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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