Planning 

Proper planning before bankruptcy can have a significant effect as to the property you keep when you file for bankruptcy relief.  An experienced lawyer will understand the importance of planning and will know how to do it correctly, and legally, so that you can keep your assets instead of having the trustee take them from you.  Proper planning is a critical part of preparing to file.  With the high level of scrutiny given to bankruptcies by the trustees, United States Trustee, and judges, skillful and proper planning with an attorney can have a huge impact on the relief that you are able to obtain in your bankruptcy filing.

Plan For Bankruptcy San Diego

When you plan for bankruptcy, you lay the framework for a smooth and successful filing.  Skillful planning, with an experienced lawyer, can make the difference between whether you keep your home, keep your car, or keep your other assets when you file bankruptcy.  With careful planning, you can even keep a bank account with funds of $10,000, or more.  You can put away tens of thousands of dollars in safe havens, such as IRAs, 401Ks, life insurance policies with cash value, and other safe places.  Sometimes planning takes time, and sometimes it can be done very quickly.  It all depends on what you have and the available safe havens you can use to restructure your money and other assets.

Legal Versus Fraudulent Planning

Some types of planning are legal (for example, to maximize your available exemptions), and some types of bankruptcy planning can be construed as fraudulent (for example, a transfer property to hinder, delay or defraud creditors).  Federal law has strict guidelines with respect to planning and moving around money or other assets before you file. Common sense and good faith are also always a consideration, as bankruptcy is meant to afford the honest debtor an opportunity to have a fresh financial start.

Experience Matters

With the current flood of new and inexperienced attorneys in holding themselves out as competent bankruptcy lawyers, it is quite common to run into a lawyer that lacks sufficient command of the bankruptcy laws, of what is legal versus fraudulent planning, to be able to properly counsel you regarding planning before bankruptcy.  An experienced lawyer will understand these differences and be able to guide you on how to do legal planning in order to maximize the property you keep when you file bankruptcy.

Poor Planning

If you case were filed without proper and necessary planning, you may receive an unwelcome surprise when the trustee or United States Trustee demands that you to give up some of your assets or forcefully sells your assets pay the claims of your creditors.  Poor planning can prevent you from obtaining the debt relief you need and which formed the basis of your decision to file bankruptcy. Unfortunately, poor planning happens more than you may think as some firms simply process and file cases as quickly as possible without assessing the need for and engaging in planning. At our firm, we always assess the need for planning and plan as appropriate.

Planning Consultation

As a client of Bankruptcy Legal Center, we will advise you if you need to do any legal planning and, if needed, we will show you how to properly plan for bankruptcy.  We have the knowledge and experience to show you the ins and outs of proper, legal bankruptcy planning so that you can keep your home, keep your car, keep your bank accounts, and keep your other assets.  You can wipe out all of your debts, and keep all of your assets.

We will explain everything to you in terms you can understand and carefully walk you through the process to ensure a smooth and successful filing.  You can also learn about the process and what to expect in the bankruptcy law knowledge center, an online bankruptcy law and information center focused on San Diego bankruptcy law.  But not to worry, there is no requirement that you read or learn anything if you don’t want to.  We will hold your hand and walk you through the process and make sure that your assets are safe.

Strictly follow the advice of your bankruptcy attorney regarding proper planning before you file so that once your case is filed with the Court it will proceed as smoothly as possible.

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