Most people who file for bankruptcy are asking the court to erase (discharge) a huge amount of financial debt. While the legislation allows you to start over again, it also requires you to provide precise details about every aspect of your financial situation on the documents you file with the court (called the bankruptcy petition and schedules).
By authorizing your bankruptcy petition, you state under penalty of perjury that all of the information in it is accurate, correct, and truthful to the best of your knowledge. Giving precise info is essential since the bankruptcy court needs to notify all your creditors that your debt might be released as well as make certain that you do not maintain more cash or residential property compared to you are entitled to.
Typical Mistakes People Make on Their Bankruptcy Paperwork
Many people decide to file for bankruptcy on their own, risking to mess the things up since working with any legal documents requires knowledge and experience. Without a professional bankruptcy attorney, such typical mistakes may take place:
- you forgot to list an item of property
- you listed an incorrect value for an item of property
- you forgot to list one of your creditors (for example, a relative to whom you owe money or an old debt that you forgot about), or
- you forgot to list income from a side business.
What To Do?
You can repair any kind of mistake on your request by submitting an amendment to your bankruptcy petition as well as informing the bankruptcy trustee about it.
Amending Your Petition
To amend the bankruptcy petition, you use the same forms that you made use of for your initial request. The only distinction is that the fixed petition will have the word “Changed” on it. It is not required to modify the whole petition, only the part with the mistake.
Georgia bankruptcy court might have additional needs, such as another cover for your amendment, so it is a good idea to get in touch with the Georgia bankruptcy attorney to learn more concerning the requirements for the amendment of your bankruptcy petition.
Notify Your Bankruptcy Trustee
Every person who files for bankruptcy application must show up in court at least once at a meeting of creditors. There the individual referred to as the trustee will review your petition and ask inquiries concerning the information on your petition and also schedules. It is likewise common for the trustee to ask whether every detail supplied on your petition is true and correct. This is where you should tell the trustee about the mistake.
If the meeting o creditors is over and you realized there’s a mistake on your petition only after it, amend it and provide it to your bankruptcy trustee. The trustee will certainly identify whether another meeting is essential based on the nature of your amendment. If you think you should offer a more thorough explanation, sometimes trustees may contact you via a call, so you can avoid another appearance.
If You Don’t Fix Your Mistake
If you do nothing regarding the mistake, especially if it allows you to keep even money or property than you are entitled to, you might attract attention of FBI that investigates bankruptcy fraud cases. Additionally, if the trustee finds out that you did not properly disclose all info in your petition, the trustee could submit a motion with the court asking the court to deny your discharge.
Don’t risk filing for bankruptcy yourself. Even a tiny mistake in documents can lead to serious consequences and you may open yourself up to investigation. Contact Georgia bankruptcy attorney James “Jack” Setters to go through all the difficulties together and start a new life you deserve!