When you file a bankruptcy petition you are seeking a discharge of your liability on debts that you owe. However, creditors may object to the dischargeability of your debts for multiple types of misconduct. Some types of misconduct include: embezzlement or larceny; fraud; any willful of malicious injuries you have caused; concealment or destruction of property or financial records; false statements; withholding information; failing to explain losses; or failure to respond to material questions.

The bottom line is that the bankruptcy process requires you the Debtor to truthfully disclose your assets and debts. In the event a creditor may object and assert that you have engaged in any of the types of misconduct discussed above, then there is a chance that one of your debts may be non-dischargeable. And you will remain liable for a debt after obtaining your bankruptcy discharge.

A free consultation with our attorneys can help you determine whether you will face any of these dischargeability issues regarding your debts. Remember when you file bankruptcy, your creditors have lawyers too, and you surely do not want to litigate a dischargeability issue on your own.

Please have a happy and safe new year!