NEW! Top 10 Things to Know!

Thompson Law Office’s TOP 10 LIST:

1. 1. STOP using your credit cards. The use of credit cards and cash advances before filing bankruptcy may be considered fraud and could delay filing.
2. 2. STOP paying unsecured debt. These are bills like credit cards and medical debt. If you’re certain that you’ll be filing bankruptcy then focus on paying your living expenses and loans that are secured by property (mortgage, vehicle, etc). If you’re unsure if you should pay something- ASK US FIRST!
3. 3. Stay or get CURRENT on property that you want to keep. Lenders may stop sending you statements or stop automatic withdrawals once you file bankruptcy, but you MUST continue to make the regular payments, even without a statement. 
4. 4. Fill out the questionnaire COMPLETELY! The information you provide to us on your questionnaire is the same information we use to prepare your bankruptcy paperwork. Be complete, be honest and remember….this paperwork is for OUR eyes only and will not be seen by the court before you have a chance to review it for accuracy. Disclose EVERYTHING!
5. Equity in your home is exempt against debts incurred AFTER you bought your home. Be sure to tell us if you had debts prior to purchasing your home. There are exemptions to this rule, but we need to know about it up front!
6. You must sign and return the retainer agreement with the initial retainer payment before we can represent you. Once you return the signed retainer agreement (the letter) along with the initial retainer fee (payable by personal or certified check and/or cash), you can begin to tell your creditors that you’ve retained an attorney. Provide them with our office contact information and tell them not to call you anymore! If we do not have your retainer agreement and fee on file, we will tell the creditors that you are not our client.
7. Keep a call log! If your creditors continue to call you after you have notified them that you’ve retained an attorney and provided them with our office information, be sure to keep a record of any correspondence on the enclosed client call log.  We may be able to take action against them. This may result in punitive damages, awarded to YOU and full payment of any and all attorneys’ fees. 
8. Reaffirming your debt is optional and not advised. Some lenders request that you sign a reaffirmation agreement on property that you want to keep. A reaffirmation forever binds you to the debt. They are not required, and if you continue to make your regular payments on any secured property, we notify your lender that you intend to continue doing so and a reaffirmation is not needed. If you choose to sign a reaffirmation on your own, please know that our office will not specifically represent you in the terms of the reaffirmation agreement. In other words, you’re on your own with a reaffirmation agreement.
9. Keep us posted. If you have a pending foreclosure, your wages are being garnished, you’ve lost your job, you’re getting a divorce, you’re having another child or all of the above happens at any time during the bankruptcy, please contact our office immediately. We understand your life changes unexpectedly but we can’t help you unless we know about it!
10. Educate yourself. Chances are you have found yourself in a place of last resort. You have no idea about the bankruptcy law, the repercussions and/or the requirements. Be a smart consumer. Visit our website for questions and answers, read our blog regarding new hot button bankruptcy issues and please, ask us questions if you don’t understand! The accountability ultimately lies with you….so get informed!

(Disclaimer: This information does not constitute legal advice. You should seek the specific advice of your attorney regarding your specific information. For questions on what this information means for you, please email us at: melissaatthompsonlaw@gmail.com).