What NOT To Do Before Filing Bankruptcy in Illinois

Going through bankruptcy is stressful enough, but when you think you’re doing something perfectly legal like paying down debt to a family member, the wrong decision can raise red flags and place your bankruptcy discharge in jeopardy. Below are some of the more common mistakes people make before filing for bankruptcy. Read the full article here: https://www.oflaherty-law.com/learn-about-law/before-filing-for-bankruptcy

O’Flaherty Law now serves over 105 counties across Illinois, Iowa, and Indiana. If you have any questions regarding a case or would like to speak to one of our attorneys after watching a #LearnAboutLaw video, give us a call at (630) 324–6666 or send us an email at info@oflaherty-law.com to get in contact with someone from our team.

Subscribe to our channel for daily videos dedicated to all things law and leave a comment with any questions about this topic.

Find us online for more legal content and to stay connected with our team

This article will discuss what to avoid in the months leading up to filing for bankruptcy so that you don’t inadvertently commit fraud or get your bankruptcy discharge denied. We will cover the following topics: Paying off loans before filing for bankruptcySelling retirement assets before filing for bankruptcyRacking up new debt before filing for bankruptcySelling assets below market value before filing for bankruptcyMoving or sheltering assets before filing for bankruptcyFile bankruptcy before receiving a large sum of moneyFailing to file income tax returns before filing for bankruptcy

**None of the content in this series is intended as paid legal advice.