Call for a free bankruptcy consultation

Louisville |

502-485-9200

New Albany |

812-945-9200
Schwartz Bankruptcy Law Center

What To Know About Bankruptcy Fraud

You may have heard news reports over the years of big names or celebrities in trouble for bankruptcy fraud. While some may have taken purposeful action to land into the hot seat, some simply made crucial mistakes unknowingly. If you or any one you know is seeking help with debts in a bankruptcy in Kentucky, it is important to know a few of the actions that could be suspicious in the eyes of the court.

Get Informed

One of the main actions that can lead to suspicions of bankruptcy fraud is moving, transferring, the sale of or inaccurate information about assets. It isn't uncommon for people to fear the loss of assets in the bankruptcy process, but there are strict rules about the reporting and handling of assets in bankruptcy. Attempting to conceal information encompasses about 70% of all bankruptcy fraud cases, whereby debtors attempt to lie about the value or whereabouts of an asset. While there are some allowances for the sale of an asset before or during a bankruptcy case, it is best to speak with your Kentucky bankruptcy lawyer prior to making that sale.

Another leading cause of bankruptcy fraud is the misrepresentation of your personal information or identity. Using someone else's name, falsifying your identity or filing information, and filing multiple cases across locations are all prohibited actions. The bottom line is that honesty is the best policy, anything other than honest information and communications is likely to lead to charges of bankruptcy fraud. If convicted, debtors face a sentence of up to five years in jail and/or a fine of up to $250,000.

No Comments

Leave a comment
Comment Information
Make A Payment Email Us For a Response

Need A Solution To Your Debt Problems?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Make A Payment
Schwartz Bankruptcy Law Center

Office Locations:

Louisville Office
3339 Taylorsville Road
Louisville, KY 40205

Phone: 502-485-9200
Fax: 502-485-9220
Louisville Law Office Map

New Albany Office
501 State Street
New Albany, Indiana 47150

Phone: 812-945-9200
Fax: 502-485-9220
Map & Directions

Phone:

LOUISVILLE |

NEW ALBANY |

Fax: