Legal Question in Bankruptcy in Virginia
asset disclosure
I am contemplating bankruptcy. I have land and a house overseas. Is it illegal if I do not disclose that during the bankruptcy process? if yes, what are the penalties? The bankruptcy would be the type that discharges all the debt not the restructure kind.
Asked on 7/09/09, 12:14 pm
1 Answer from Attorneys
Daniel Press
Chung & Press, P.C.
Re: asset disclosure
Yes it is illegal. What are the penalties? Denial of the discharge; denial of exemptions; and up to several years in federal prison.
Answered on 7/09/09, 7:36 pm
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