Bankruptcy denied

How often is Bankruptcy denied?

If a person falls into debt, more than they can pay back, than they will most likely file for bankruptcy in an attempt to clear their debt. But how often are people denied bankruptcy? Why would they be denied bankruptcy in the first place? Let’s discuss some different ways a person can be denied bankruptcy.

First, tell the truth. Make sure everything, including statements and all of the information in the file is accurate. When filing for bankruptcy, everything submitted is represented under penalty of perjury. If a creditor finds out that there was an omission from the case, they will have grounds to challenge your bankruptcy discharge - so be truthful when submitting information.

Next, along the same lines of being truthful, make sure there is no information that is concealed or destroyed. If there is any information that is falsified, concealed, or destroyed concerning the information of financial assets. This is similar to trying to defraud a debtor by changing, or manipulating any assets within one year of filing for bankruptcy. This should be a transparent process where the lawyer should know every single asset and piece of information is included in the case. Do not leave anything out or try to transfer any asset without consulting with a lawyer first.

Also, be sure to follow all court orders. These are usually simple requests that a debtor will need to obey in order to clear their debt. For instance, a debtor will fail to take a financial instructional course, and this is a requirement under the U.S. Bankruptcy Code. If a person decides to not take these courses, they run the risk of being denied. So take the course! Listen to the court and follow their rules.

Lastly, make sure to be prepared. Find a lawyer that is experienced in Bankruptcy law, call the Law Offices of Nicholas J. Del Pizzo today, at 1-800-BANKRUPT.

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