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  • Tips for Avoiding Bankruptcy Fraud

    If you are considering filing for bankruptcy or are in the process of seeing a bankruptcy through, here are some tips to keep in mind to avoid committing bankruptcy fraud.

    If you are considering filing for bankruptcy or are in the process of seeing a bankruptcy through, here are some tips to keep in mind to avoid committing bankruptcy fraud.

    Bankruptcy fraud, a serious federal crime, is often committed by people who are trying to defraud the federal government in order to reduce their debts while improve their economic standing. Unfortunately, in some cases, people who are unfamiliar with the complexities of the bankruptcy process may unintentionally commit bankruptcy fraud. Regardless of the intention to commit bankruptcy fraud, however, the IRS and the Department of Justice prosecute these cases to the fullest extent of the law, as they view instances of bankruptcy fraud as egregious attempts at gain at the cost of honest citizens who rely on bankruptcy as a solution to desperate financial problems.

    If you are considering filing for bankruptcy or are in the process of seeing a bankruptcy through, here are some tips to keep in mind to avoid committing bankruptcy fraud:

    • Make sure to disclose all of your assets, as well as your debts: Failing to list all of your assets – including all of your real estate, bank accounts and personal assets (such as jewelry, cars, etc.) – can be viewed as trying to hide these assets from bankruptcy courts. When compiling a list of your assets, be sure to review the list multiple times to make sure that you have included everything.
    • Make sure you provide complete and accurate information about yourself: One of the most common ways people commit bankruptcy fraud is by failing to completely or accurately fill out all of the necessary forms. As you prepare the paperwork for your bankruptcy, take extra care to provide accurate personal information and to not leave anything out, as omissions can be seen as attempts to commit bankruptcy fraud.
    • Work with an experienced bankruptcy attorney: The documentation associated with filing for bankruptcy can be just as complicated as the process itself, and an experienced attorney can help you navigate through the process as seamlessly as possible. By working with a bankruptcy lawyer, you can avoid common pitfalls that can delay your case, cause your petition to be denied or, in the worst cases, result in you standing accused of committing bankruptcy fraud.

    If you are struggling with debt and are looking for a financial fresh start, contact the trusted Colorado bankruptcy lawyers at The Law Office of Andrew McKenna. For more than 20 years, we have been successfully overseeing our Clients’ bankruptcy cases so they can resolve their financial issues as beneficially as possible. Our comprehensive legal knowledge coupled with our vast experience allows us to consistently and efficiently help our Clients achieve the best possible resolutions to their financial matters. For an evaluation of your case and expert advice regarding how to move forward, call us at (303) 730-8819.

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