Lying About My Imcome
Posted on November 7, 2009 at 9:11 am
Im thinking about filling bankrupcty how do they know Im not lying about my imcome
Posted on November 12, 2009 at 2:30 am
Bankruptcy is all about your estate (especially for Chapter 7). You are required to declare all your assets and that would include official papers. If ever you lied about your income and the trustee finds out, your case would be dismissed, and you might even be up for fraud.
I am no a lawyer - but that's the idea..
Posted on November 12, 2009 at 2:38 am
A Chapter 13 on the other hand is all about a repayment plan - you won't escape this during the meeting with the creditors. Your creditors would look for discrepancies in your documents (tax returns, bank statements) and oral statements - to find out if you can actually afford the repayment plan that you've proposed. If they find out that you're lying your case would be dismissed for being unable to meet your obligations as a debtor.
Posted on November 12, 2009 at 2:41 am
I don't know about fraud break on through -- but I agree that the case would not push through if that happens.
Why are you filing bankruptcy though 9a75287?
Are your debts mostly secured?
Are you facing foreclosure or eviction? Repossession?
A legal action?