Accuracy and Honesty in Bankruptcy

In order to have the bankruptcy process go smoothly both the attorney and client have to be on the same page in regards to accuracy of bankruptcy schedules.  It is imperative that clients take an active role in reviewing the bankruptcy petition that is to be filed with the court.   The most important things for a client to review are:

  1. Did I list all my assets
  2. Did I list all my debts including debts to relatives
  3. Is my income accurate
  4. Did I make any payments to friends or relatives or give away any property
  5. Did I double check the information that is going to be filed with the court.

It is also important for a client to be honest when filling out the bankruptcy forms.  If a client has any questions about whether the information is correct or on what should be listed on the schedules they should ask the attorney.  I cannot stress the importance of honesty when filing a bankruptcy, nothing with draw the anger of a trustee faster than a client who is dishonest.  If you are dishonest it will also draw the ire of your attorney, who cannot give you good advice, if you do not tell him or her the truth regarding your situation.  The bankruptcy system is designed to give honest debtors a fresh start, if you are not honest you put your fresh start is jeopardy.