What Can Happen if You Lie About Details of Your Bankruptcy in New York City?

What Can Happen if  You Lie About Details of Your Bankruptcy in New York City?

Making the decision to file for bankruptcy can be daunting. It can be very tempting for some consumers to try to hide assets, transfer funds or otherwise lie on their bankruptcy petition. Desperate times call for desperate measures, but lying about the details of your bankruptcy is a very bad idea, and it is also completely unnecessary.

Bankruptcy laws exist to protect people from overwhelming debt and to provide them with a fresh start. There are numerous legal ways to protect your assets and accounts. A qualified bankruptcy attorney will have options and strategies that will provide you more protection, legally, than you could even hope to find by lying about the details of your bankruptcy. It can be easy to panic, but don’t make your financial mistakes worse by trying to pull one over on the bankruptcy court. It won’t work in New York City.

Lying on your bankruptcy petition may not only end up with a denial of your bankruptcy discharge, but may also bring criminal charges against you. Overwhelming debt and being underwater on your bills is not a crime, but lying under oath to a judge certainly is.

Now disputes happen. People see things differently and there is some give and take in the bankruptcy process. If your bankruptcy paperwork has a few honest mistakes or omissions then you will be given an opportunity to correct them and explain yourself to the bankruptcy trustee. Don’t take this to mean you can recklessly fill out the bankruptcy forms until you get it right. But you also do not need to worry about having messy financials that could get you into trouble. As long as you understand the importance of being up front with your attorney you will have nothing to fear.

If you live in New York City and are considering bankruptcy relief please give the law offices of William Waldner a call today at 212-244-2882 to arrange a free bankruptcy consultation. We will immediately get the creditors off your back, eliminate your toxic debt and work with you closely to get you on the road to financial well being. Our clients always come out better financially after their bankruptcy without the risk of criminal prosecution and as of 8/31/16 we have a 99% Chapter 7 Bankruptcy discharge record.