Bankruptcy is a powerful legal tool to help you get out of debt. To get the benefits of bankruptcy, you must give full disclosure. You are required to disclose all of your assets, debts, income, expenses, and any recent transfers of property or large payments to one creditor.
Some people may want to hide a debt from their spouse, or maybe even hide an asset or side-income. Some people may want to avoid facing a problem all together or may want to deal with the problem after bankruptcy. However, attempting to hide things from your bankruptcy attorney may ruin your chance to get debt relief through bankruptcy, and worse still could amount to a crime.
Do not attempt to hide property, assets, debts, or transactions from your bankruptcy attorney. Some people erroneously believe that if their attorney has all the facts, they will not be eligible for bankruptcy. Typically this is not true. Some people erroneously believe that they can “get away with it,” thinking that no one will find out. This is not true. The United State Bankruptcy Trustee, the Bankruptcy Trustee assigned to your case, and the Bankruptcy Court have extensive power and resources to investigate potential bankruptcy fraud.
It is critical that you give your attorney all of the information he or she asks for, that you are truthful and accurate, and that you carefully review your bankruptcy petition before it is filed.
No matter your situation, an experienced and knowledgeable bankruptcy attorney can provide you with legal advice and guidance on how bankruptcy will affect you. As long as you are honest, many issues that could complicate a bankruptcy can be planned for, mitigated, or addressed prior to filing. The bankruptcy problem we cannot help you solve is the one you hide.
Bankruptcy petitions are filed with the Bankruptcy Court under the penalty of perjury. The punishment for bankruptcy crime includes but are not limited to fines of up to $250,000 and/or up to 5-years in prison. Learn more in our article The Consequences of Bankruptcy Fraud.
We Can Help You Erase Your Debts
We help hundreds of people just like you successfully file for bankruptcy each year. But our clients are never just a number. You will not be left in the hands of a paralegal. You will have access to your attorney throughout your bankruptcy case. Call us today at (833) 522-1069 or contact us via the web to schedule a free consultation.
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The Law Office of Barbara B. Braziel proudly serves all of Savannah, GA and the surrounding counties including Chatham County, Effingham County, Bulloch County, Bryan County, Liberty County, Long County.
We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.
The post The Bankruptcy Problem We Cannot Help You Solve Is the One You Hide appeared first on Braziel Law.