The answer is clearly, YES. All assets must be disclosed – you cannot selectively decide what to include in your bankruptcy petition. One Debtor filed for bankruptcy in 2010 and in 2015 is being sentenced for bankruptcy Fraud for asset concealment. This Debtor owned a 5% interest in a company and during the pendency of […]
As more and more homes are foreclosed and/or homeowners leave the property prior to the bank actually foreclosing, the zombies are growing. As we drive around in neighborhoods throughout New Jersey, we can easily identify these “Zombies”. You will see a nice neighborhood with the lawn being well maintained and the homes look well kept. […]
I can’t emphasize enough that honesty is the best policy when you come to the Federal Government for relief from your debts. You cannot talk to your creditors and persuade them not to contest your Bankruptcy Filing. And, most certainly, you cannot offer your creditors money to be silent in your Bankruptcy Filing. Recently a Debtor […]
Making false representations and/or causing deliberate damages to a Creditor are not dischargeable. The Debtor’s landlord sued the debtor and the following acts by the Debtor made these debts non-chargeable as ruled by the Bankruptcy Court. What happened? Debtor rented a property from the Landlord. Lease included one dog – a small Chihuahua Upon leaving, […]
As previously discussed, when you go the U.S. Bankruptcy Court for help for a fresh start in bankruptcy, you must be prepared to tell the entire story. A Florida couple filed for bankruptcy. In their bankruptcy petition, the Debtors claimed that they owed approximately $2.9 million to creditors, and had assets worth less than $13,000. […]
As previously discussed, payday loans are referred to as “predatory” loans. These companies target desperate individuals who are in serious financial difficulties. They have run out of all options to borrow money and now must turn to these unscrupulous organizations. The interest rates range from 24% to 149%. In addition, there is usually an origination […]
