I have some school money squirreled away in my bank account, but I have to file for bankruptcy b/c I tried to open a small cafe with my mom (all in my name). We lost our shirts, and I was left holding the bag.
Anyways, I know I'm SUPPOSED to tell if I have money in the bank, but suppose I don't ... will they find out anyway?
2007-11-13 02:35:44 · 13 answers · asked by Random_Girl 3 in Business & Finance ➔ Personal Finance
Oh, I'm in Texas.
2007-11-13 02:37:04 · update #1
Probably so, but anyway as long as you don't have over 9k in assests thanks to the new Brankruptcy laws, you have nothing to worry about
2007-11-13 02:38:14 · answer #1 · answered by Zenkai 6 · 1⤊ 0⤋
They will find your bank account if you have one. So, close your bank account. After all, you are broke anyway and you needed the money to live on. That's the reason you are filing for bankruptcy, right?
Good luck.
2007-11-13 12:02:16 · answer #2 · answered by Deana 4 · 0⤊ 0⤋
Yes, they will find out. When you file for bankruptcy, you have to declare every single cent that you have. Once you list everything, you sign legal documents agreeing that this is everything that you have.
If you sign that document, which you will have to to get the ball rolling with your case, and they find out you had other money saved away you're in big big trouble.
2007-11-13 10:44:59 · answer #3 · answered by gopher646 6 · 0⤊ 0⤋
The following describes "What are the consequences of filing a bankruptcy petition?". I think it mentioned about fraudulent information. Check it out and hope it is useful.
2007-11-13 11:48:23 · answer #4 · answered by wt526 3 · 0⤊ 0⤋
You are supposed to list all your assets on the bankruptcy application, and failure to do so can be a crime. Its up to you to tell them about the bank account. Its not worth the risk to leave it off, and they do have computer searches that can find things you leave off.
2007-11-13 10:38:14 · answer #5 · answered by Steve C 7 · 1⤊ 0⤋
If you don't disclose all your assets and they eventually find out, your bankruptcy petition will be dismissed and you will no longer have the protection of the court.
Plus, if you knowingly conceal assets or make any false statement it's considered a crime and subject to fines or imprisonment or both.
2007-11-13 10:49:54 · answer #6 · answered by Celeste 6 · 0⤊ 0⤋
Your bank account is linked to your social security number which then links it to your credit report. It will be easy for the courts to locate.
2007-11-13 10:40:52 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Oh, Yes!! And there will be consquences with that if you don't tell, your case can be dismissed and it'll be hard for you to file again...plus there'll be extra fees you'll have to pay just for lying...
2007-11-13 10:39:40 · answer #8 · answered by ~*~Sweet Plum~*~ 3 · 0⤊ 0⤋
When you go before the judge, he will ask you if you have claimed all your assets and if you expect your financial situation to change. I don't think I would lie to the judge. Good luck, sweetie.
2007-11-13 10:39:16 · answer #9 · answered by ga.peach67 4 · 1⤊ 0⤋
Yes. They will find it. If you lie on the bankruptcy petition, you leave yourself open to criminal fraud charges.
2007-11-13 10:39:39 · answer #10 · answered by regerugged 7 · 1⤊ 0⤋