Key Mistakes to Avoid Before Filing Chapter 7 Bankruptcy

Before filing for Chapter 7 bankruptcy, there are crucial mistakes to avoid. Don’t withdraw funds from protected retirement accounts like 401(k)s, as these assets are safe from creditors. Additionally, avoid transferring property for less than its fair market value or repaying family members, as these actions could be seen as fraudulent. Always consult an attorney to ensure you’re making informed decisions and protecting your rights during the bankruptcy process.