Should I include all of my assets in the application? 40 Answers as of June 14, 2013

Should I include all of my assets in the application? Can I withhold some information about my assets?

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Marc S. Stern
Marc S. Stern | Marc S. Stern
Withholding information in a bankruptcy is a felony. People regularly get sent to jail for not making full disclosure.
Answer Applies to: Washington
Replied: 6/18/2012
The Law Offices of Katie M. Stone
The Law Offices of Katie M. Stone | Katie M. Stone
You must list all of your assets on your bankruptcy petition. You cannot pick and choose what to list and what to leave off. When you file a bankruptcy, you are swearing under penalty of perjury that all of the information in the petition is accurate and complete. I hope you found this answer useful.
Answer Applies to: Florida
Replied: 6/13/2012
Bereliani Law Firm | Sanaz Sarah Bereliani
It is necessary for you to list all your assets and all your creditors on your bankruptcy petition. You are signing this petition under penalty of perjury stating that you have listed everything completely. If you are found to have perjured then you can be fined.
Answer Applies to: California
Replied: 6/11/2012
Cohen & Kendziorra, P.A.
Cohen & Kendziorra, P.A. | Robert S. Cohen
You must include all assets in your bankruptcy. Failure to include all assets is fraud.
Answer Applies to: Florida
Replied: 6/11/2012
R. Jason de Groot, P.A
R. Jason de Groot, P.A | R. Jason de Groot
If you withhold some information about your assets your bankruptcy petition can be dismissed. You could also be prosecuted for bankruptcy fraud. You must list all of your assests in the bankruptyc schedules, as well as all of your debts.
Answer Applies to: Florida
Replied: 6/11/2012
    The Northwest Debt Relief Law Firm
    The Northwest Debt Relief Law Firm | Thomas A McAvity
    You should include all your assets.
    Answer Applies to: Oregon
    Replied: 6/7/2012
    R. Steven Chambers PLLC | R. Steven Chambers PLLC
    Yes, you must include all of your assets in your bankruptcy. Many assets will be exempt but you have to list everything you own as of the day you file and you have to disclose any transfers of your property that you made within two years prior to filing. If you don't list all your assets your discharge could be denied and you could be prosecuted for bankruptcy fraud.
    Answer Applies to: Utah
    Replied: 11/9/2012
    Olson Law Firm | Edward M Olson
    Your bankrutpcy petitions end with a signature line for you which states that you certify that you have disclosed everything under penalty of perjury. It is a crime to withhold assets from your schedules.
    Answer Applies to: Michigan
    Replied: 6/7/2012
    Law Office of L. Paul Zahn
    Law Office of L. Paul Zahn | Paul Zahn
    You are required to disclose all assets. Failure to do so is bankruptcy fraud and can subject you to monetary penalties or even jail time.
    Answer Applies to: California
    Replied: 6/7/2012
    Dan Wilson Bankruptcy
    Dan Wilson Bankruptcy | Dan Wilson
    You must disclose all assets and all debts. Dan Wilson Dan Wilson Bar Prep DWBar.com danwilsonbankruptcy.com 720-839-0727 dwilson@law.du.edu
    Answer Applies to: Colorado
    Replied: 6/7/2012
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    That would be committing fraud as you are required to disclose ALL assets
    Answer Applies to: New York
    Replied: 6/7/2012
    Alvin Lundgren | Alvin Lundgren
    You must declare ALL of your assets. Failure to do so is a Federal crime, a serious crime.
    Answer Applies to: Utah
    Replied: 6/7/2012
    Attorney At Law | Harry D. Roth
    Withholding information about your assets in a bankruptcy is a felony and grounds to have your case dismissed or your discharge denied. Under no circumstances should asset information ever be withheld from a bankruptcy filing.
    Answer Applies to: California
    Replied: 6/7/2012
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    You are reporting under penalty of perjury. Clearly you should consult an attorney before you compound your problems.
    Answer Applies to: Michigan
    Replied: 6/7/2012
    Barbara Fontaine, Esquire | Barbara Fontaine
    You must list all of your assets. That does not mean that you lose all or any of them, as there are exemptions.
    Answer Applies to: Rhode Island
    Replied: 6/7/2012
    Ashman Law Office
    Ashman Law Office | Glen Edward Ashman
    The witholding of any assets is a serious felony. The penalty can be five years in prison, a $250,000 fine, dismissal of your bankruptcy and denial of discharge, and loss of the unreported assets. Since you have expressed an interest in committing a deliberate fraud and crime, you will find that attorneys will refuse to represent you and you need a lawyer in a bankruptcy.
    Answer Applies to: Georgia
    Replied: 6/7/2012
    Weber & Phillips, P.A.
    Weber & Phillips, P.A. | John G. Phillips
    It is bankruptcy fraud to intentionally not disclose assets or to intentionally omit creditors from your petition and schedules. If you have concerns about losing an asset that you really wish to hang onto, consult with a good, local attorney and they can tell you how best you can shield your assets. Most of the time, there are legal ways to protect the assets instead of lying or equivocating about their existence which, if you get caught, will not end well.
    Answer Applies to: Arkansas
    Replied: 6/7/2012
    Law Office of Louis S. Haskell
    Law Office of Louis S. Haskell | Louis Haskell
    You can withhold information about your assets, as long as you are willing to risk going to jail. A bankruptcy petition is signed under the pains and penalties of perjury, and Bankruptcy Judges, like most judges, are not very forgiving of people who lie to them. If you willfully fail to disclose an asset, you can expect to lose your discharge, which means that you will have lost the benefit of filing bankruptcy in the first place. On top of that, you should expect to lose the right to claim an exemption in the asset that you may have been entitled to had you have disclosed it. Instead, the Trustee will just take it and give you nothing in return. Bankruptcy is a very powerful tool. We routinely take tens of thousands, sometimes hundreds of thousands, of dollars of debt and simply make it go away. Most of the time, the client gives up nothing in return. All the bankruptcy court asks is that you not play games. Full disclosure of assets is absolutely essential.
    Answer Applies to: Massachusetts
    Replied: 6/7/2012
    Diefer Law Group, P.C.
    Diefer Law Group, P.C. | Abel Fernandez
    You have to disclose all assets to the court. Withholding information is a crime and you could have serious criminal penalties filed against you.
    Answer Applies to: California
    Replied: 6/7/2012
    Law Offices of Michael J. Berger
    Law Offices of Michael J. Berger | Michael J. Berger
    You are required by law to list all of your assets when you file bankruptcy.
    Answer Applies to: California
    Replied: 6/7/2012
    Law Office of D.L. Drain, P.A.
    Law Office of D.L. Drain, P.A. | Diane L. Drain
    The law requires that you list 100% of all your assets and all your debts. In fact, you are going to swear under oath that you did list all assets and debts. Bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy.
    Answer Applies to: Arizona
    Replied: 6/7/2012
    The Schreiber Law Firm
    The Schreiber Law Firm | Jeffrey D. Schreiber
    You MUST list all of your assets. Failure to do so subjects you to a denial of discharge, five years in prison and a $500,000 fine.
    Answer Applies to: California
    Replied: 6/7/2012
    Steven Alpers | Steven Alpers
    You must it is federal law. You could be prosecuted if you omit assets.
    Answer Applies to: California
    Replied: 6/7/2012
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