Dishonesty Abounds Even in Bankruptcy Filing

Dishonesty Abounds Even in Bankruptcy Filing "Today, it is impossible to avoid encountering or hearing about the indiscretions of others. Many of these individuals who are supposed to be placed in positions of trust continually succumb to temptations and are discovered lying or stealing. Simply turning on the news will reveal what is occurring in Washington, D.C. In an environment where trust is of the uttermost importance, corruption is rampant. There is no distinction regarding the judicial system. With so many individuals declaring bankruptcy in the modern era, there is a constant question of honesty. Many individuals who file for bankruptcy do not believe the trustee will be able to determine what they own. The Bankruptcy Court requires individuals to be completely truthful when filing for bankruptcy, which includes listing their assets. There are those who believe no one will find out if they do not report it. The problem with this theory is that some individuals are betrayed by family and peers who do not approve of the concept of cheating the system.In today's technologically advanced society where nearly everyone uses social media, it is not difficult for the trustee to obtain information on the individual's filing. People use social media to boast about their possessions and upcoming travels in order to outdo their peers. The last thing a bankruptcy trustee would want to see is a debtor planning an exotic vacation immediately after being discharged. This prompts the query, ""Where is all the money coming from?"" A person who files for bankruptcy is typically in financial distress and in need of a new start. Not wasting money on extravagant vacations and new vehicles. These idiots are no exception to the rule that social media is accessible to the public; they are plainly unaware of this.No one wants to be discovered lying in a bankruptcy petition. At the very least, a person could loose the property they were attempting to conceal. This, if they are fortunate. For a fraudulent bankruptcy petition, the trustee could file criminal charges against the individual. They will be fortunate to only lose their bankruptcy discharge in this case. Depending on the severity of the infraction, the bankruptcy judge may seek prison time. It is best for a person to be completely truthful and allow the bankruptcy attorney to determine how to protect their property. The purpose of the bankruptcy court is not to seize all of a debtor's assets and sell them at a barter meet. It would be very difficult for someone to start over after declaring bankruptcy if they lost everything. When it comes to declaring bankruptcy, candor is the best policy. In today's economy, Chapter 7 bankruptcy filers rarely lose all of their assets or are entirely liquidated. The bankruptcy trustee always considers the expense versus the benefit of recovering property. If something is not worth the effort, it is not worth taking. I do not understand why anyone would attempt to deceive the court, particularly if they have retained a bankruptcy attorney to represent them.
" - https://www.affordablecebu.com/