A Word on Bankruptcy Fraud
A San Francisco bankruptcy attorney on Bankruptcy Fraud
Lying on your bankruptcy petition or incurring debt with the intention of filing bankruptcy can often lead to certain debts being excepted from discharge. While this is not a concern for most people who file for bankruptcy, bankruptcy fraud is actively investigated by the F.B.I. so it is important to be completely honest when submitting information to your bankruptcy attorney and to ensure that the information contained in your petition is true and accurate.
Filing for bankruptcy and not disclosing significant assets can lead to the trustee (as well as creditors) objecting to the discharge of all debts listed in your petition. The purpose of your bankruptcy petition is not only to give notice to all of your creditors, but is also to represent an accurate portrayal of your financial situation (by way of real and personal property that you own).
Aside from omitting assets, other behavior can also inhibit obtaining a discharge. Transferring funds to a friend or relative can also lead to the trustee avoiding those transactions and asking for the money back. In addition, transferring title of property out of your name is generally not allowed. There are, however, certain transfers that are acceptable. For example, putting money into your retirement account or prepaying a mortgage obligation are acceptable ways of preparing for bankruptcy.
The most important thing for debtors to remember is that the more honest you are about your assets and financial situation, the more problem free the bankruptcy process will be.
If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!
