The simplest answer to this questions is “no.” A bankruptcy attorney in Tampa will not help you hide assets, but they can help you protect them. There is no legal way to hide assets, but there are many different things you can do to protect yourself and maintain ownership of your assets when you file for bankruptcy.
Why is Hiding Assets in Bankruptcy So Risky?
Hiding assets from the bankruptcy court can lead to:
- Loss of discharge
- Revocation of discharge
- Inability to discharge debts in future bankruptcies
- Criminal charges
The trustee’s job is to uncover all of your assets. They comb through your financial records, conduct public record searches and online asset searches, review pay stubs, and even collect reports from co-workers, former spouses, business partners, and more.
If they suspect you hid assets, they can file a lawsuit to recover those assets. And if it turns out you did hide assets, you could be facing criminal charges. This could result in expensive fines or jail time.
What If I Accidentally Forgot to Report an Asset?
Mistakes happen. Most of the time, if you honestly forgot to list an asset you won’t go to jail or face steep fines. But you might lose that asset. A bankruptcy attorney in Tampa can help you correct the error and give you the greatest chance at protecting that asset.
The last thing you need when filing for bankruptcy is to garner more attention than needed by the court. A bankruptcy attorney in Tampa helps you complete your paperwork completely and correctly and file it on time. This saves you a great deal of stress and reduces the risk of being accused of something you did by mistake.
