I wanted to share 13 tips from the FBI before filing bankruptcy.  I often tell clients that lying to the court is a crime, but often they do not believe me.  So many times you will hear of stories of debtors who filed bankruptcy and did not disclose assets such as a boat, land or [...]

Most people want simple, clear, answers to a few simple questions about bankruptcy.  Sometimes the answer depends on your circumstances.  Most bankruptcy lawyers, however, turn the tables and ask a whole lot of questions before answering the client’s questions.
Because every case is different, it’s dangerous to generalize without some factual background.  While it is no [...]

The new bankruptcy law, BAPCPA (”Bankruptcy Abuse Prevention and Consumer Protection Act”) requires that a debtor’s assets must be valued at “replacement cost.”  In fact, if you meet with your attorney, he will give you a notice required by section 527(c) of the Bankruptcy Code, which probably explains valuation similar to this section from the [...]

Bankruptcy is all about protecting you and your property from creditors. But do you really have to disclose ALL of your property in a Chapter 7 filing? Will anyone find out if you don’t?
Here is the short answer: YES.
In a typical Chapter 7 petition, a debtor will be asked no less than 10 times whether [...]

When a debtor files bankruptcy, part of the process requires that they list all assets (all the stuff that they own) and all liabilitlies for the bankruptcy court to review.   This rule has been in place for a long time, but under the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act, the rule was emphasized.  [...]

Perjury is a federal crime when it happens in conjunction with a bankruptcy case.  When my clients sign their Petition I inform them no less than 4 times that they are signing the documents under penalty of pejury that everything must be truthful and accurate to best of their knowledge.
This means tell me everything.  Tell [...]