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Mistakes to Avoid

If you are considering filing for bankruptcy in St. Louis, try to avoid these potential mistakes:

  • Dipping Into Retirement Funds – nearly all retirement funds will be protected in bankruptcy no matter how much is in the retirement account. Too many people don’t realize this fact and dwindle away these accounts before filing in an effort to keep up with their payments.

  • Paying family and friends before filing – these payments may be taken back and redistributed to creditors.

  • Maxing out credit cards – Courts do not look favorably on large purchases or cash advances made recently, especially within 90 days before filing.