If you are considering filing for bankruptcy either under Chaper 7 or Chapter 13, you certainly have some things you aren’t going to want to lose.  Maybe it is the expensive plasma TV or maybe it is the car you just paid off.  There is a temptation to try to figure out how to hide assets because you want to keep stuff you have worked hard for.  Now, as a lawyer, I have to try and help you not make poor decisions for your life.  If you start hiding assets, you can end up going to jail.  How?  Basically, when we put together documents for your bankruptcy, you must disclose by law all of your assets.  If you hide these assets, you can be found guilty of perjury!  Is the plasma TV really worth going to jail for? 

What are some ways you can be found guilty of fraud? Here are the basic ways people get into trouble.

Concealing assets

Fraudulent claims

Destroying paperwork

Concealing paperwork

Distribution Arrangements (like, Larry, here’s my TV, give it back after this bankruptcy deal is over)

Conflicts of interest

False Statements of Declarations

Bankruptcy is not always what you have to choose in straining financial situations.  You can also legally renegotiate debts and still have a chance to keep that cool TV.  What we are wanting to do is to warn you of the legal dangers of fraud.  You don’t have to have once been a millionaire for people to look closely.  You need to make sure that whatever you do, you have the honesty and integrity to work within the legal system set up to protect you in these difficult times.  Your creditors don’t want to lose what you owe  just as much as you don’t want to lose all your stuff.  You don’t always lose “everything” anyway…  If you work with our firm, we will do our best to make sure you are in the best financial position possible after all is said and done.  In order to get to this point we will need your full cooperation and honesty to help you as much as possible.

Please call our office for a free consultation!