In filling out your bankruptcy forms, it is essential that you be
completely honest. If you conceal assets or commit
perjury in these papers, you could be investigated
by the F.B.I., prosecuted by the U.S. Attorneys Office, and sent to federal
prison.
| 28. I have a valuable coin collection.
May I give it to my son before filing bankruptcy? |
|
No. Gifts and unsecured debt repayments
to family members within three years are highly suspect, VOIDABLE,
and may result in having your case dismissed. So the answer is NO. |
|
| 29. A local finance company lent me $2,000
four years ago. I would like to pay it back before filing bankruptcy.
May I? They have been very good to me and I like the manager. |
|
No. Payments within 90
days of bankruptcy
on debts more than 45 days old at the time paid are called preferences
and are illegal. Do not do it. After the case is closed, if you want
to pay them back out of post-petition earnings, that is OK, but it
will be totally up to you. |
|
| 30. May I hide or lie about my assets?
Can I tell them I went to Atlantic City and gambled my money away? |
|
No!!! We will not represent anyone who
is not honest in his court papers or statements. You may not be found
out. If you are, you could easily go to prison. It is not worth the
risk. |
|
| 31. Do I need to disclose and list my children's
assets? |
|
No. Your children are not filing bankruptcy.
You do not need to list their personal items. |
|
| 32. I lied to a bank and told them my home
has no mortgages on it so that I could obtain a line of credit. What
will this do? |
|
If you obtained credit through intentional
or criminal fraud or gave a false financial statement to obtain credit
(or to refinance existing credit), the lender may ask the court to
deny your discharge as to that one debt. You may then want to convert
to Chapter 13 where even fraud debts may be discharged. |
Husband & Wife>
