Bankruptcy

So, How Will the Trustee Know If I Don't List an Asset?

By Joseph McDaniel, Esq.

So list all your assets in your Chapter 7 or 13 Bankruptcy Case in Arizona, because an Arizona Bankruptcy Trustee will be very cranky, and you may lose your discharge or even your freedom, if you don't list assets.

Failing to list an asset in your bankruptcy case is simply not a viable option under any theory; and since I've practiced bankruptcy law in Arizona for thirty years, I have heard all the excuses known to mankind, with "I forgot", and "But it wasn't worth anything!" and "That old thing?" being the most frequent.

So list your assets and don't make me or Heidi or Nina ask you three times!

None of my clients has ever done time for bankruptcy fraud, and I really don't want you to be the first; I have a good friend, who is a good lawyer, who had a client who did do time for bankruptcy fraud. My buddy was disconsolate. Do not make me disconsolate.

NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12. FIND AN ARIZONA BANKRUPTCY LAWYER WHO IS BOARD CERTIFIED IN BANKRUPTCY LAW, AV RATED, AVVO 10 RATED, ON SUPERLAWYERS, OR JUST VERY EXPERIENCED AND A FORMER CHAIR OF SOME BANKRUPTCY SECTION OR COMMITTEE. NOTHING HERE MAY BE USED AS LEGAL ADVICE IN CONNECTION WITH ANY BANKRUPTCY, WHETHER THAT BANKRUPTCY IS IN PHOENIX, GLENDALE, TEMPE, MESA, SCOTTSDALE, OR ANYWHERE ELSE.

Full post as published by Arizona Bankruptcy Attorney Blog on July 09, 2010 (boomark / email).