Bankruptcy NO NO List! Don’t do these things before filing for bankruptcy:

• Don’t take credit card cash advances.
• Don’t use credit card convenience checks.
• Don’t do credit card balance transfers.
• Don’t purchase luxury items.
• Don’t repay loans from friends or family members.
• Don’t sell any assets for below market value.
• Don’t transfer any assets into someone else’s name.
• Don’t give away anything you own.
• Don’t pay your child’s college tuition without first discussing with your attorney.
• Don’t loan money to anyone.
• Don’t take money out of retirement plans or 401ks without discussing with your attorney first.
• Don’t take out a second mortgage.
• Don’t gamble.
• Don’t open new credit accounts or loans.
• Don’t put money in your kids’ bank accounts or college savings plans.
• Don’t make major financial decisions without talking to your attorney.
• Don’t get married just before filing (unless this is part of an overall strategy discussed with your attorney.)
• Don’t buy a new car without first discussing with your bankruptcy attorney.
• Here’s a surprising one: don’t pay this year’s tax bill without first discussing with your attorney.
• Don’t forget to tell your attorney if you are expecting a tax refund or inheritance.
• Don’t charge up your credit cards.