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Great advice!

I caught another great article today. The advice seems applicable if you are thinking about filing bankruptcy.
1. Come see a lawyer early.
2. Stop paying debts that you are going to discharge. If you are unsure about what you are discharging, see #1;
3. Stop charging! Charges made close in time to bankruptcy are often presumed not dischargeable;
4. Leave your 401(k) and IRA alone. Those accounts can be protected in BK. Any money you take out is money that you could be protecting in a bankruptcy filing;
5. Save your paperwork. Get a big box. Fill it with all the bills you get, late notices, collection notices, etc. Throw in a few paystubs and your tax return and you are half-way ready to file bankruptcy (well, at least it’s a good start);
6. Get to it- the longer you wait the worse it gets. No one likes filing bankruptcy. The longer you put it off the more likely it is a creditor will file liens on your property, garnish wages, offset accounts, and do stuff that’s much easier to cut off that it is to undo.


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