Can I leave off a credit card from the bankruptcy?

I am often asked by my clients prior to filing if they can leave off their favorite credit card from the bankruptcy schedules. The easy answer is no. The bankruptcy code requires debtors list all their debts. Failure to leave off assets or creditors could have negative ramifications to include loss of the discharge. Dont […]

Can I leave off a credit card from the bankruptcy?

I am often asked by my clients prior to filing if they can leave off their favorite credit card from the bankruptcy schedules. The easy answer is no. The bankruptcy code requires debtors list all their debts. Failure to leave off assets or creditors could have negative ramifications to include loss of the discharge. Dont […]

Top 5 assets left of bankruptcy schedules

Here is a list of the top 5 debtor assets left off bankruptcy schedules: 1. Real property to include the debtor home. While most debtors list all their legal and equitable rights to real estate, I list this as number one because leaving this off could have the biggest negative ramifications for the debtor. 2. […]