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Honesty Is of Utmost Importance in Personal Bankruptcy

Over the last 20 years, corruption has swept over the entire nation of the United States. In fact, people are surprised to hear stories of when someone does something honest like returning a purse. Politicians lie about everything to the point where it’s rare that someone is telling the truth. Now, when someone is honest, my first thought is not to believe them because lying is so common. When . In a personal Bankruptcy, the bankruptcy trustee expects the debtor to tell the truth, the whole truth and nothing but the truth. A new younger generation has grown up in a fantasy world of make-believe and lie for no real reason at all. Some people filing bankruptcy don’t realize that property could be protected by a bankruptcy exemption law, so out of fear, they either hide it or lie about it and say it doesn’t exist. The bad thing about this is, with new technology, it’s pretty easy for these people to get caught in a lie. Once the trust is broken with a bankruptcy trustee, the individual will have to do some backpedaling and hopefully not lose their bankruptcy discharge.

With so many people filing bankruptcy nationwide, it has become a common occurrence for individuals to hide stuff from their bankruptcy attorney. Some even go as far as thinking they can keep their credit card open that has a zero balance on it. Not knowing that creditors typically run reports on their customers and would see the bankruptcy filing and close the account anyway. Going to the 341 meeting, the bankruptcy trustee will now have some questions for that debtor because of their dishonesty. The bankruptcy attorney will also be embarrassed because this will be the first time they have heard about what the debtor did. A bankruptcy attorney doesn’t like surprises and if the individual had only told the truth, they would’ve learned what would happen in this situation. Many people use social networking these days and tend to brag about their lifestyle. All it takes is to have the bankruptcy trustee search the social networking sites and find out about the upcoming trip to Hawaii after filing bankruptcy. The bankruptcy trustee might have second thoughts about moving the bankruptcy discharge for word without some sort of investigation on this individual. For flagrant violators, the bankruptcy court could charge the person with fraud and the individual could be arrested. Much of the information that people hide from their bankruptcy attorney could be protected if only they would be honest. Bankruptcy was created to give Americans a fresh start and that is why they give generous bankruptcy exemptions to use so the individual won’t be completely wiped out.

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