Article provided by: Allen Stewart
If you are looking for an experienced Dallas bankruptcy lawyer who can get you the debt relief you need fast, you're in the right place now! Attorney Allen Stewart is a well-known and well-trusted bankruptcy attorney practicing in Dallas, TX. Every day, our law office helps clients to get out of debt and get on with their lives. We provide free scheduled consultations for individuals in need of legal services. Call today to schedule your no-cost consultation.
Bankruptcy is a Serious Matter
Bankruptcy is not a step to be taken lightly. It's a serious event, and it has some real benefits. We help people save their homes and find relief from overbearing debt, but with the benefits of bankruptcy come important responsibilities. First, there's a petition and financial statements that must be filed when a person files a bankruptcy case, and these are sworn documents signed under oath.
Sometimes, people will transfer vehicles or other personal property to their friends or relatives to hold for them while they go through the bankruptcy process. Doing this is clearly a non-disclosure and is equity fraud, which could result in big fines, bankruptcy being denied, and even jail time. The consequences are too severe to risk! It's best to be totally honest and transparent on all schedules. Make sure there is no material misstatement. Allen Stewart P.C. is a Dallas bankruptcy attorney who can help with all of this.
People Who Lie Get Caught
The trustees who review these schedules review thousands every year. They know the right questions to ask. The questions asked by the trustees must be responded to under oath. Also, creditors are able to come to these meetings, and they will have a chance to provide their input as well. There is a very high likelihood that non-disclosures will be found. Once they are, there are serious consequences!
Sloppiness and gross negligence are among the criteria that will lead to the conclusion that the omission was intentional.
The best way to protect yourself is to take your time, get it right, and be honest. Having an experience Dallas bankruptcy attorney in your corner can make all the difference in this regard.
Will You Be Required to Appear in Court for a Dallas Bankruptcy Case?
Depending on the chapter of bankruptcy you file, you might be required to make an appearance at hearings before a bankruptcy judge. In a Chapter 13 bankruptcy case, you may only need to appear before the judge once to affirm the Chapter 13 plan. When dealing with Chapter 7 cases, you may never have to appear in court unless there is an objection or a reaffirmation hearing is held.
A reaffirmation hearing is held when a debtor wants to continue to pay a debt in order to keep the property. This could be a car, home furnishings, or other property. During a reaffirmation hearing, the judge will tell you about the consequences of reaffirming a debt, as well as your alternatives. You will be given your options and asked if you wish to proceed with the reaffirmation. But before approving the agreement, the judge must first make sure the debtor can handle the payments.