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Before You File For Bankruptcy, Review The Paperwork

by Douglas Jacobs, California Bankruptcy Attorney on July 26, 2009 · Posted in Bankruptcy Practice and Procedure

Once the paperwork to file a bankruptcy is completed it needs to be signed.  This sounds easier and simpler than it really is.  It is your opportunity to confirm that your attorney heard everything you told him and has properly accounted for it.

Be sure to read everything carefully and make sure that all of your assets and all of your debts are properly listed.  You are signing these documents under penalty of perjury.  That means that you can, theoretically, go to jail for not telling the whole truth on your paperwork.  Generally, a minor mistake, such as a typographical error, will have little effect in the long run and can be easily corrected.

Bigger mistakes, like not listing the boat in the back yard, are more serious and raise issues that you are hiding assets, even when the oversight was purely accidental.  Failing to list the money you paid back to mom 2 months ago can also cause a problem.  There are a number of these areas that you can spot on your paperwork and fix before it gets filed, saving you the potential of a lot of grief.  In bankruptcy law, it’s easier to do it right the first time, than explain it later.

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