Legal Question in Bankruptcy in Maine
Relevancy of age of debt/equity in joint tenancy
I know that when one declares bankruptcy it's important to list every creditor, but how many years into the past should one delve in order to list all creditors? What about debts to, say, friends and family members, or to businesses with which one has an ongoing relationship. Is one obligated to list these debts if one has sincere hopes of eventually being able to pay them? Would there be legal repercussions if we were later to pay a debt that had been discharged by bankruptcy?
2 Answers from Attorneys
Attorney At Law
You are required to list all debts if money is still owed. you may pay off a discharged debt without problems but you are not required to do so.
lst all - all - your creditors
When you sign your petition and schedules you are required to list everyone you owe money too - your mother - sister - priest - rabbi- your lawyer - everyone you owe money to. Your intentional ommission of a creditor is, in the strictest sense, bankruptcy fraud. Knowling failing to list a creditor in an attempt to not have their debt discharged is improper.
You can always, after your bankruptcy is complete, repay anyone you owe money to, however.
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