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12/20/11
Thinking About Bankruptcy in 2012
Filed under: General
Posted by: RPLaw Firm @ 4:02 pm

Thousands of people starting planning their new years in December. Filing for bankruptcy is on hundreds of lists.  If you are considering filing for a discharge, there are a few things that you need to consider during the holidays.

  1. Running up Credit Card Bills.  Do not make the mistake of over spending and buying everything your heart desires on credit hoping to have it discharged in bankruptcy.  While credit card debits are one of the popular debt seeking discharge, trustees inquire the date of debts.  A sudden increase of credit card debt could cause suspicion of fraud.
  2. Do Not Spend All of Your Money.  Remember you will need money for filing fees and possible attorney representation for filing your bankruptcy.  Several bankruptcy attorneys will take payment plans.  However, you may need money to pay for the debt counseling and court filing fees.
  3. Income tax Returns.  Filing early in 2012 can be a good thing.  However, income tax returns are considered assets.  So time your filing wisely and/or use your tax return carefully.
If you need more information about bankruptcy, call Riggins Law Firm PA today 352-433-2400.

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