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Part of the job of a bankruptcy trustee is to investigate your finances and financial history to prevent fraud and misuse of the system. Therefore, what you don't do can be just as important as the steps you do take when filing your petition. According to Knochel Law Office’s bankruptcy lawyers, serving clients throughout Mohave and La Paz counties in Arizona, some mistakes can even make it impossible to successfully file a petition.

Before filing for bankruptcy, they recommend you avoid:

  • Submitting Inaccurate Paperwork: Whether you've inadvertently left some information off of your petition or intentionally tried to hide some of your assets, the trustee will almost certainly catch the problem. At the very least, the questions and correction process can lead to avoidable delays. In the worst case, you may be denied a discharge entirely.
  • bankruptcy lawyerIgnoring Your Tax Returns: Most of the information regarding your liabilities and assets will be taken directly from your previous two years' tax returns. If you haven't filed, it may be impossible to proceed with your bankruptcy protection or even determine the full extent of your tax debts. This obstacle can be removed by filing late returns, although the resulting taxes and penalties won't be discharged by the bankruptcy.
  • Taking Out New Debts: Any new debts obtained in the 70 to 90 days before filing for bankruptcy may lead to objections from the creditor, who may have grounds to have your discharge denied. Many bankruptcy lawyers warn their clients to avoid filing if they have borrowed more than $600 for luxury purchases or opened a new line of credit in the past three months.

Since 1987, the Knochel Law Office's attorneys have helped people throughout Arizona, California, and Nevada get the vital debt relief they need. To schedule a consultation with an accomplished bankruptcy lawyer, call their office in Bullhead City at (928) 444-1000, or visit the website to learn more about their high-quality legal services today.

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