July 2012

Occasionally, I meet with a potential client who tells me that he doesn’t want to list all of his income, assets, debts, or expenses.  If the potential client doesn’t accept my warnings about the consequences of this sort of bankruptcy fraud, I politely escort them to the door.  That potential client never becomes an actual client.

But does it really matter if you’re honest when completing your bankruptcy papers?  Aside from the obvious moral imperative in favor of honesty, there are practical reasons for avoiding falsifying anything on your bankruptcy papers.  Here for your edification, are a few recent examples of cases involving people who were less than honest in bankruptcy.
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I recently had an exchange with a fellow bankruptcy attorney who expressed some confusion over the treatment of car leases in bankruptcy.  His confusion arose because of something he heard a judge say at a hearing on reaffirmation.  The judge’s comments appear to indicate that the distinction between lease assumption and debt reaffirmation is not clear in everyone’s mind.  This post will clear up the confusion.
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