I have 5 tips for consultation financial decisions that you need right now! You took the first step. It was a scary one. You called my office and scheduled your bankruptcy consultation. There is about a week or less between your call and the consultation with me.
Even though you are waiting to meet with a bankruptcy lawyer in Elyria, Ohio, life goes on. I know that. You still have bills. What should you do?
- Do not pay any bills before meeting with me. Paying your credit card bills will not make you look better to the bankruptcy court. You might just be giving that money away. This includes money you owe relatives. Wait to pay relatives until after you file bankruptcy. If you made payments try to stop them.
- Keep your fingers out of the 401k. You don’t need to access your retirement funds. You can file bankruptcy, have your bills discharged, AND keep your retirement money.
- Tell telephone collectors that you have an appointment with a bankruptcy lawyer and hang up. Better yet, don’t talk with them at all.
- If anyone threatens to garnish your wages, don’t panic. Don’t believe it. Before that can ever happen they need to file a lawsuit. They have to serve you with a copy of the complaint. They need to file a motion for default judgment. The court has to grant the judgment. Then they need to give you a 15 day notice of the intent to garnish in writing before they can file a garnishment. All this takes time. If a collector uses the G word for garnishment, it’s okay to laugh at him before you hang up the phone.
- Never, never, never give a telephone collector access to your bank account for payments. It might seem convenient. Maybe it will get him to stop calling for a while, but try to stop it after you allowed it. You might have to close an account you have had for years to get them out of your life. Let’s see if you got this one. When should you give a collector access to your bank account?
The 5 tips for consultation financial decisions is really only the tip of the iceberg. They are designed to guide you at this difficult time. We are only talking a few days between the time you called and when you have the consultation. There is no reason to complete any type of financial transaction leading up to our meeting. What might look a good idea, or even common sense could cost you more than the money you paid out. Be patient. Wait. You will be happy you did.