11. Don’t give of gift property to anyone.
12. Don’t transfer assets to anyone unless it is a genuine sale for fair value.
13. Don’t cash out retirement plans or 401k’s.
14. Don’t gamble.
15. Don’t hide assets or debts.
16. Don’t forget timeshares or co owned property.
17. Don’t omit unfiled legal claims you have.
18. Don’t forget stock options, profit sharing plans, or pension rights.
19. Don’t take out payday loans.
20. Don’t put your money in your children’s bank account.
More Bankruptcy Filing Mistakes to Avoid
If you have not yet read the first part of this series, check out Don’ts in Preparing to File Bankruptcy (Part 1) to learn more about common mistakes you should avoid before beginning the bankruptcy process.
For additional guidance, continue reading Don’ts in Preparing to File Bankruptcy (Part 3).