Prebankruptcy Planning

Planning ahead if you are considering bankruptcy is a wise idea. It's important to understand what actions to avoid in the months or even years before you file for bankruptcy -- running afoul of the bankruptcy laws can jeopardize your discharge and even land you in jail. 

In addition, careful consideration of your property and available exemptions can help you keep more property. And timing your filing correctly could also prevent the trustee from taking back money you recently paid to relatives or business associates.