What if I forget to list a liability in my bankruptcy filing?
Listing all of your liabilities on the creditor mailing list is one of the most important requirements when filing for an Atlanta Georgia bankruptcy. Failing to disclose a creditor can cause major problems with your bankruptcy case. But accidents happen, and the good news is that it’s possible to correct a simple oversight, provided that you act quickly.
Atlanta bankruptcy trustees take listing liabilities very seriously. For various reasons, some people will purposefully omit creditors or debts when filing for bankruptcy. This is a form of bankruptcy fraud, a serious crime. If the court finds out you didn’t include a creditor, even if it was an honest mistake, they may become suspicious and doubt the accuracy of the rest of your bankruptcy petition. Remember, you’re signing your petition under penalty of perjury.
If you find that you’ve forgotten to list a creditor, notify your bankruptcy attorney immediately so they can take quick action to resolve the error. If the omission is obviously accidental, your bankruptcy lawyer can amend your schedule to include that creditor in your bankruptcy.
The absolute worst thing you can do if you’ve left a liability out of your Chapter 7 or Chapter 13 bankruptcy Atlanta case is to ignore the mistake and hope no one catches on. It’s always better to be upfront about any errors. Bankruptcy trustees are more likely to believe you if you bring the problem to their attention early, and your case will be less likely to get delayed or derailed.
If you’re preparing to file bankruptcy, take the time to carefully review your mailing list and compare it to the creditors you’ve listed on your bankruptcy schedules. A good way to double-check that you’ve included everything is to look at the most recent copy of your credit report. However, keep in mind that credit reports don’t necessarily list all debts.
With so many steps and requirements, filing for bankruptcy can be an overwhelming process. It’s understandable to be worried about making a mistake that may jeopardize your bankruptcy case. But you don’t have to go through your Atlanta bankruptcy alone. Enlisting the guidance of an experienced Altanta GA bankruptcy law attorney such as the lawyers at Debt Stoppers Atlanta GA is the best way to ensure you’ve dotted all the i’s and crossed all the t’s on your journey to debt relief.