Should a debtor be concerned that he/she will be committing bankruptcy fraud if they file?

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Bankruptcy fraud is the last thing any bankruptcy petitioner wants to engage in when filing for relief under the bankruptcy laws. A petitioner convicted of bankruptcy fraud could find their discharge denied, face a large fine and potential jail time. So given that a debtor wants to avoid a bankruptcy fraud allegation at all costs the question becomes what could constitute fraud?

The bankruptcy laws are designed to give honest debtors a fresh start but the bankruptcy trustee will carefully scrutinize the filing and the following categories of issues are just some examples of items that will be red flags:

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Raymond Kenney, Law Office of Raymond A. Kenney, PLLC | Attorney Advertising

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