There are several important points I make to all my clients. The first is a request to be open with me and the court regarding your financial information. Most importantly to do so through our entire relationship without deviation. In law, we call this full disclosure and transparency. A recent case shows what you should NOT do when filing bankruptcy:
Timothy P. of La Mesa, California filed for bankruptcy in 2010. At that time, Timothy planned to sell his collectable1957 Thunderbird automobile in order to fund the Chapter 11. His schedules stated that the car was worth $80,000. A Chapter 7 trustee traveled to his home and witnessed the car in his garage. Shortly after, the car
disappeared. In the ensuing trial Mr. P. testified that he had no idea what happened to the car. Subsequently, he testified under oath that he thought his son came for the car but was not sure. He later admitted he had lied, and in fact he had requested his son to take the car. Evidence showed that Mr. P. had hid the car after the Chapter 7 trustee saw it on his premises. Mr. P. was convicted of perjury, among other damaging offences.
Bankruptcy is a viable option for many and can lead to a new beginning. It starts with showing hat you have nothing to hide.
California Man Concealed Thunderbird in Montana Bankruptcy; No. 2014-20; Tax Action Bulletins; pg. 10; (2014).