Seasoned Debt Lawyer in Camden County, NJ Advises Clients about the Do’s and Don’ts of Filing for Bankruptcy Protection

Should I stop paying my mortgage? Do I transfer my credit card balance? Do I pay back my father-in-law? Should I use my retirement to pay my mortgage? These are all common questions that my clients have. Before doing anything that could hurt your chances of filing for bankruptcy, learn about the basics. I am here to help.

My name is Joel R. Spivack, and I represent men and women throughout New Jersey in bankruptcy law matters. I have been helping clients for more than 25 years and have helped thousands of individuals get debt relief. Throughout the bankruptcy process, I will be your partner, working with you throughout every step of the way.

Joel R. Spivack, Esq. Discusses the “Don’ts” of Bankruptcy

People can make mistakes during the bankruptcy process. If you are educated about bankruptcy, you can likely avoid complications. I am committed to providing my clients with quality legal advice that they can benefit from. I seek to avoid challenges whenever possible and will provide step-by-step guidance throughout the legal process.

Here is a list of the main things you should not do right before you file for bankruptcy:

  • You should not transfer assets or take out money from retirement or qualified ERISA savings accounts. Retirement accounts are considered safe in bankruptcy. If you withdraw or transfer money, the IRS can consider that money taxable income. The tax issues can be significant if this happens.
  • Do not attempt to pay back relatives, business partners or other people you owe money to.
  • Do not make large purchases on your credit card, transfer balances or get cash advances just before you file for bankruptcy.
  • Do not “walk away” from your mortgage if you are facing foreclosure. This can leave you with a deficiency judgment that can affect your financial life for years.

Find Out How to Make the Most of Filing for Bankruptcy; Contact Cherry Hill, NJ Lawyer Joel R. Spivack

Work with a lawyer. Trying to file on your own can result in an inability to file if the petition is done wrong. There are specific guidelines and processes that only a skilled attorney will know of. As a highly experienced New Jersey bankruptcy attorney, I know every step of the bankruptcy process and I know when to expect challenges. I take immediate action when working with my clients and provide personalized attention at all times. You can count on me to help you see the light at the end of the tunnel and get the debt relief you deserve.

Contact an Experienced Chapter 7 Bankruptcy and Chapter 13 Bankruptcy Lawyer

Have questions? Schedule a free consultation. Please contact me at 856-861-6203 or 866-488-2196. My office is located in Cherry Hill, and my regular business hours are 8 a.m. to 5 p.m., Monday through Friday. Free parking is available.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.