Legal Question in Bankruptcy in California
I am claiming bankruptcy. My son's car is in my name as he had no credit, however, he made down payment, pays monthly payment insurance and upkeep. I list no expense for this car and to date there is no equity. How shall I treat this or can I omit it from my BK?
2 Answers from Attorneys
Absolute Law No, that would be a bankruptcy fraud. Our office knows the proper treatment of your car in bankruptcy, and our fees are very reasonable. There's no point in screwing up your life to avoid a professional.
You must disclose your entire financial picture in your bankrupty. You leave nothing out. You list it with an explanation in the notes. Go see a knowledgeble local bakrupcty attorney to discuss your case before filing. You don't want to file frauduent papers - it is a federal crime!
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