Filing bankruptcy of any type is a big deal. We're looking for debt relief, an end to creditor and collector harassment, and a true fresh start in life.
So what's the problem? So many of you are not going to get that fresh start:
BECAUSE YOU DO NOT LIST ALL OF YOUR CREDITORS
I see it every day. Bankruptcy paperwork comes in, you examine the mailing matrix, you examine the deadlines to file proofs of claims, and everything looks great.
Two or three years from that filing date, you have more accounts turned over to collections. Accounts that you "forgot" about, or were just in too big of a hurry to list.
All of those accounts that you "forgot"? You did not give them a chance to participate in your bankruptcy process.
You know what happens next?
These accounts just sit there in never-never land until your bankruptcy discharges or dismisses. You have extended your statute of limitations on these accounts by however many months you were in bankruptcy. They resurface.
Your "fresh start"?
You blew it.
Filing bankruptcy is a big decision. It's a big business decision for you and/or your family. You don't want to do it but once, and you want to do it right.
TAKE THE TIME AND EFFORTS TO DO THE JOB RIGHT. DON'T BLOW YOUR FRESH START BECAUSE YOU WERE TOO LAZY, BUSY, OR FORGETFUL TO LIST EACH AND EVERY ONE OF YOUR CREDITORS.
So what's the problem? So many of you are not going to get that fresh start:
BECAUSE YOU DO NOT LIST ALL OF YOUR CREDITORS
I see it every day. Bankruptcy paperwork comes in, you examine the mailing matrix, you examine the deadlines to file proofs of claims, and everything looks great.
Two or three years from that filing date, you have more accounts turned over to collections. Accounts that you "forgot" about, or were just in too big of a hurry to list.
All of those accounts that you "forgot"? You did not give them a chance to participate in your bankruptcy process.
You know what happens next?
These accounts just sit there in never-never land until your bankruptcy discharges or dismisses. You have extended your statute of limitations on these accounts by however many months you were in bankruptcy. They resurface.
Your "fresh start"?
You blew it.
Filing bankruptcy is a big decision. It's a big business decision for you and/or your family. You don't want to do it but once, and you want to do it right.
TAKE THE TIME AND EFFORTS TO DO THE JOB RIGHT. DON'T BLOW YOUR FRESH START BECAUSE YOU WERE TOO LAZY, BUSY, OR FORGETFUL TO LIST EACH AND EVERY ONE OF YOUR CREDITORS.
. I think the other "biggie" is trying to hide assets...purposely or not; they will be found and to risk being dismissed just isnt worth it.
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