PHILADELPHIA BANKRUPTCY MISTAKES TO AVOID IN

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1 CHAPTER 13 BANKRUPTCY MISTAKES TO AVOID IN PHILADELPHIA If Chapter 13 bankruptcy is a consideration, you know your financial life will be turned upside down if you decide to move forward DAVID M. OFFEN PHILADELPHIA BANKRUPTCY ATTORNEY

2 If Chapter 13 bankruptcy is a consideration, you know your financial life will be turned upside down if you decide to move forward. Of course, you are hoping that you come out the other side in better shape. Those who don t know the first thing about Chapter 13 bankruptcy often times believe the process is simple, straightforward, and quick to complete. As they begin to learn more, they find that there are questions that need answered, paperwork that needs filed, and challenges that need overcome. The last thing you want to do is find yourself falling prey to the many Chapter 13 bankruptcy mistakes that are lurking around every corner. One mistake, even if it appears to be minor, could cause you major headaches down the road. If you become familiar with the most common Chapter 13 bankruptcy mistakes, it is much easier to feel confident in every step you take. 3

3 Here are several mistakes that you want to avoid: 1. Adding more debt to what you currently have. Believe it or not, many people think this is a good idea. They know they are going to discharge their debt through bankruptcy, so they don t think twice about adding more. This is a mistake, as the court may consider it fraudulent activity. Once you know you are going to file for Chapter 13 bankruptcy it is best to put away your credit cards and avoid all other types of debt. This includes loans and cash advances. 2. Making a rash decision. If you believe that one time is as good as the next to file, you may find yourself jumping the gun. For example, you could find yourself faced with wage garnishment or foreclosure. In this case, filing for bankruptcy right away would be in your best interest. But what if you have enough money to get by for the time being? Does it make more sense to wait, hoping you can work things out? On top of this, if you are going to add more debt to your current load you may want to delay the process. 3. Neglecting to file the appropriate paperwork. Don t let anybody tell you that it is simple to file for Chapter 13 bankruptcy. There is a lot of paperwork involved, and you must supply the court with all the information it requires. If you don t, your case could be thrown out and you will find yourself back at square one. 4

4 If you are concerned about overlooking a particular document or worried that you will make a mistake, consult with a Chapter 13 bankruptcy attorney. This person can review your situation, explain what you should be doing, and make sure that every piece of paperwork is taken care of at the right time and in the appropriate manner. These are just three of the many Chapter 13 bankruptcy mistakes you must be aware of. By avoiding these, as well as others, you will feel better about your ability to achieve the desired results. 5

5 Bankruptcy laws are anything but simple. It is likely that you don t have much experience with this area of the law, so it makes sense to consult with an experienced and knowledgeable attorney. This will help you avoid mistakes, while having your questions answered in a timely manner. As intimidating as it may be, don t shy away from learning more about Chapter 13 bankruptcy because you are afraid of making mistakes. Many before you have bettered their financial situation by filing for bankruptcy. Once you know what is expected, you could be next to take advantage and improve your finances. 6

6 About the Author David M. Offen A native to the Philadelphia area, Mr. Offen attended Temple University College and Law School. Mr. Offen is licensed to practice in the States of Pennsylvania and New Jersey. He is a member of the Eastern District of Pennsylvania Bankruptcy Conference and the National Association of Consumer Bankruptcy Attorneys. David M. Offen has over 20 years of experience and has helped over 8,500 individuals and families go through the Bankruptcy process. These filings have included stopping foreclosure on a home, stopping repossession of a car or vehicle, stopping IRS tax levies and frozen bank accounts and putting a stop to; lawsuits, credit card bills, personal loan, bills, utility shutoffs and other types of debt. With Mr. Offen s help, these families have saved countless millions of dollars of debt. David enjoys getting to know his clients and will be happy to answer any and all questions you may have. You are treated as a person and not a number. Remember there is no such thing as a silly question. Don t be afraid to ask any questions you may have. David M. Offen has found that people looking to file Bankruptcy are not trying to avoid their responsibilities but rather to make a difficult situation easier. David enjoys getting people to stop worrying and making their financial lives much better and stop feeling overwhelmed. In some cases, Bankruptcy is not the best move and he can review your situation with you and tell you the right move for you to make. Get a completely free evaluation of your situation. For the past 20 years, the Law Offices of David M. Offen has been among the top filers of bankruptcy in the Eastern District of Pennsylvania. The Law Offices of David M. Offen The Curtis Center 601 Walnut Street, Suite 160 West 1st Floor Philadelphia, PA