A bankruptcy trustee will first ask you to clarify your bankruptcy case. Did you read the schedules before signing them?
Let’s discuss it.
Get Your Schedules Right
Schedules refer to the bankruptcy terminology for the lists and creditors of assets, budgets, and financial history that comprise the initial bankruptcy papers.
Bad Bankruptcy Advice
Our experience shows that legal claims are the most neglected asset. A legal claim is not just a lawsuit you have filed. You have the right to assert a claim based on events that have occurred.
Your best effort should be given to the task, regardless of whether your attorney requires you to complete a questionnaire or interview you for information to fill out forms.
How to Look Over Schedules Before Signing
If you don’t mind spending some time with Uncle Sam after a conviction for perjury or losing your bankruptcy discharge due to recklessly filing untruthful schedules, then it is worth knowing how to read the schedules that your attorney has prepared.
You don’t have to just review the information entered into the form. Don’t forget to look for the things that aren’t there.
This is a more difficult task because you must read all the questions and decide if you have anything to report.
This article was written by Alla Tenina. Alla is a top estate planning attorney in Sherman Oaks, CA, and the founder of Tenina Law. She has experience in bankruptcies, real estate planning, and complex tax matters. The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. This website contains links to other third-party websites. Such links are only for the convenience of the reader, user or browser; the ABA and its members do not recommend or endorse the contents of the third-party sites.