What happens if someone does not declare their assets after filing for bankruptcy?

What happens if someone does not declare their assets after filing for bankruptcy?

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Min Austria
Assistant at Ascent Law LLC

What happens if someone does not declare their assets after filing for bankruptcy? This is a question that many people have asked and one that is also very timely in light of the recent financial crisis. Many people were left with large debts from mortgages, credit cards, and other debt obligations after the value of their homes and investments plummeted. As a result, many people filed for bankruptcy.

When filing for bankruptcy, you must list all of your assets on your bankruptcy papers. If any of your assets are not listed on these papers, then you can be accused of fraud. If you do not declare your assets and it is discovered later, this can make matters much worse for you because it will be considered fraud. It would be wise to list all of your assets as well as any debts that you will be paying off in this manner when filing for bankruptcy, if you have any assets at all.

If you have any questions or need a Bankruptcy Lawyer, please call this law firm for a free consultation.

Ascent Law LLC

8833 S Redwood Road Suite C

West Jordan UT 84088

(801) 676-5506

Utah Lawyer for Divorce Business Bankruptcy Probate Estates
Ascent Law helps you in divorce, bankruptcy, probate, business or criminal cases in Utah, call 801-676-5506 for a free consultation today. We want to help you.
https://www.ascentlawfirm.com

Location: Roosevelt, UT 84066, USA

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