During this long wait, they often make mistakes that can potentially hurt their bankruptcy case or, at the very least, places them in a worse financial position than had they consulted with a bankruptcy attorney earlier. Learn more about Illinois bankruptcy lawyer in this presentation.

1. TOP MISTAKES PEOPLE
MAKE BEFORE TALKING
WITH A BANKRUPTCY
LAWYER
“During this long wait, they often make mistakes that can
potentially hurt their bankruptcy case or, at the very least,
places them in a worse financial position than had they
consulted with a bankruptcy attorney earlier.”
PIOLETTI & PIOLETTI
Bloomington, Illinois Bankruptcy Law Attorneys

2. Have you put off talking to a bankruptcy lawyer because you are scared of losing
property, you fear you cannot afford to file a bankruptcy or you simply do not
believe that bankruptcy is something you feel you can do because you do not
“cheat” your creditors? If so, you are not alone.
The good news is that bankruptcy is often the best solution for many people who
are facing serious financial problems. The bad news is that many people wait
too long before they consult with a bankruptcy attorney. During this long wait,
they often make mistakes that can potentially hurt their bankruptcy case or, at the
very least, places them in a worse financial position than had they consulted with
a bankruptcy attorney earlier.

3. As an experienced bankruptcy law firm, Pioletti & Pioletti can help you find the
best solution to your debt problems. We want to help you avoid costly mistakes
so that you can find a place of healthy financial well-being for you and for your
family. Filing bankruptcy is
not something that you
should avoid if it is truly the
best solution for your
financial problems.
Schedule your free
bankruptcy consultation so
that we can explain the legal
protections available to you
so you can understand how
bankruptcy laws are designed to help people just like you receive a fresh start
while finding protection from creditors.
Bankruptcy Mistakes to Avoid
It is easy to lose focus on what is important when you are struggling with
overwhelming debts, especially if you do not know about the legal protections
available for someone in your position. You worry about your future and your
family’s future so you try anything to make ends meet. The desire to protect your
family can lead you to make mistakes that can be costly and jeopardize your
future financial security.

4. Consulting with an experienced bankruptcy lawyer can provide you with the
assistance you need as you deal with financial problems. You can also get the
advice and counsel you need to avoid making mistakes that you may not even be
aware that you are making.
Borrowing Against the Equity in Your Home
In almost every bankruptcy case that we file, the equity in the debtor’s home is
protected by bankruptcy exceptions. In other words, the equity in your home
cannot be used by your creditors or the bankruptcy trustee to pay your debts.

5. Federal and state lawmakers have made it very clear that people should not lose
their home due to a financial crisis or debt problems.
Unfortunately, if you borrow
against the equity in your
home to pay your debts (i.e.
second mortgage, equity
line, etc.), you remove the
protection offered through a
bankruptcy filing. You may
have resolved your debt
problem by using the equity
in your home to pay
unsecured debts such as
medical bills, personal loans
and creditors but you have
now put your home in
jeopardy if you default on
the home loan. Instead of
using the protected equity in
your home, you may have
been able to discharge
most, if not all, of those debts through a bankruptcy filing.
Borrowing against the equity in your home is not a sound financial solution to
resolving a debt problem and can often make your financial situation worse.

6. Disposing of Assets or Property
Do not panic at the thought of losing your property if you file bankruptcy. Most
debtors who file bankruptcy in Illinois retain all of their property. Even in a
Chapter 7 liquidation, we see very few cases where debtors lose any of their
property. Unfortunately, if you panic and “give away” or “sell” your property to
friends or relatives prior to filing bankruptcy, you may create a situation where the
trustee can void the transfer and seize the property for the bankruptcy estate.
While “clean hands” transfers (property sold for the true market value of the item)
may be proper, you should always consult with a bankruptcy attorney first to

7. discuss your legal options and rights so you can make an informed decision and
avoid mistakes that could jeopardize your bankruptcy case.
Allowing Debt Collectors and Creditors to Bully You to Make
Payments
Bill collectors and creditors will use a variety of bullying tactics to force you to
continue paying debts that you cannot afford. They will say things such as, “Just
pay us a few dollars each month to keep this from going against your record” or
“If you can pay us a small
amount each month, we will not
need to turn this over to our
attorney for legal action.”
There are two problems with
giving in to these bullying
tactics. If you are having
financial problems, you must
prioritize the debts that you
must pay first. Essential items
such as housing, transportation, utilities, food and medical needs should come
before credit card bills. Bill collectors do not care about what is best for you –
they simply want you to pay them first. Do not let them bully you into doing
something that will harm you or your family’s well-being.
Second, bill collectors want you to continue to pay debts that may never go
away. If you are paying the minimum monthly payment, you may be reducing the

8. loan balance by a few dollars each month. Depending on what you owe, this
process could take decades. Do not let this happen to you. Call a bankruptcy
attorney and learn how you can make this stop so you can get out from under bill
collectors and their bullying tactics.
Filing a Bankruptcy without an Attorney
This may be one of the biggest mistakes people make. Bankruptcy law is
complex with many rules and regulations that must be followed in order to
receive a bankruptcy
discharge. While you can
file your own DIY
bankruptcy, you must
understand one very
important condition. The
court and judges will hold
you to the same standard
as an experienced
bankruptcy attorney. If
you make mistakes in
your bankruptcy filing, they will hold you accountable meaning you could lose
property or fail to receive certain protections for your failure to follow the property
rules and procedures.
The experienced bankruptcy lawyers of Pioletti & Pioletti not only have your best
intentions at heart they also understand bankruptcy law and know how to apply it
to your situation to achieve the best possible outcome in your bankruptcy case.

9. Do not trust something as important and your future financial security to an
inexperienced attorney. Hire a bankruptcy attorney that has the experience,
knowledge, dedication and commitment you need on your side as you work to
resolve your debt problems for a better and brighter future.
Contact Our Office for a Consultation with an Experienced Illinois
Bankruptcy Attorney
Serving Our Clients with Sound Guidance and Unparalleled Dedication
The attorneys of Pioletti & Pioletti represent individuals who need experienced
bankruptcy attorneys. We help people who are struggling with financial problems
throughout McLean, Woodford, Tazewell and Peoria counties by providing
compassionate, competent legal services. Call our office at 309-938-4838to
schedule your free bankruptcy consultation.
When you need the assistance of an experienced bankruptcy attorney in Central
Illinois, call the knowledgeable and skilled attorneys of Pioletti & Pioletti. We are
dedicated to giving our clients exceptional service and support throughout the
bankruptcy process.

10. About Pioletti&Pioletti
Serving Our Clients with Sound Guidance and Unparalleled Dedication
Pioletti&Pioletti is a full service law firm that represents individuals and businesses in a variety
of areas of law including criminal defense, family law, bankruptcy, and estate planning.
Pioletti&Pioletti has a long history in central Illinois. Our firm was founded in 1938 with a focus
on estate planning, real estate, and business services. Today we are a versatile firm providing
a group of services including criminal defense, family law, bankruptcy, and civil litigation
representation.
Our focus is on providing outstanding legal representation with unmatched personal service.
We are available through email, 24 hours a day, 7 days a week.
Pioletti&Pioletti
107 E. Eureka, Suite 1, Eureka
IL 61530
Phone: +1 309-467-3213
Website: www.piolettilaw.com
121 N. Main St.,Bloomington
IL 61701
Phone: +1 309-821-0246
Website: www.piolettilaw.com