Don’t tidy up your financial affairs before consulting a bankruptcy lawyer.
You may waste money or lose bankruptcy options when you make last minute changes to your situation.
You’ll have the widest set of options for a fresh start if your lawyer sees the situation as it is today.
What looks to you like complexity and disorder may look to your bankruptcy lawyer as opportunity and advantage.
The high cost of financial housecleaning
My heart sinks when a new client tells me that they’ve just paid off the loan their parents made them before seeing me.
Or borrowed against their retirement to fund debt management.
Or paid off the taxes so that all the remaining debt is credit cards.
For different reasons in each instance, those actions complicate a bankruptcy or squander assets that could have been saved in bankruptcy. [Read more…]