Bad Faith Bankruptcy Not a Good Idea
If you decide to seek relief from overbearing debt by filing for bankruptcy, it’s imperative that you do so in good faith. In this article, we’ll discuss bad faith bankruptcy and why you do not want to be a part of it.
Bad Faith Bankruptcy at a Glance
While the majority of bankruptcy cases are filed with the best of intentions, there are instances of people “playing the system” to stall a foreclosure or other means of debt collection. Other examples of bad faith bankruptcy include
- Filing more than one bankruptcy case within a year – this can occur if you choose to go it alone rather than utilizing the services of a skilled bankruptcy attorney
- Knowingly withholding vital information from your bankruptcy filing
- Providing false information to bankruptcy trustees
- Filing simply to stall creditors
- Failure to make payments as ordered by the court
- No real reason to file for bankruptcy
Consequences of Bad Faith Bankruptcy
There are a host of possible results from bad faith bankruptcy.
- Your case can be completely dismissed, meaning you’ll not be able to discharge your debt – ever.
- Any automatic stays that prevent creditors from contacting you can be lifted.
- Your Chapter 13 bankruptcy can be converted to Chapter 7 bankruptcy – meaning that your property can now be sold to satisfy the creditors.
Don’t Take Chances With Your Bankruptcy: Call the Oswalt Law Group
There are many reasons why you should leverage the skills and expertise of a bankruptcy lawyer if you should decide to file. Chief among those reasons is that your case will be handled the right way. Here at the Oswalt Law Group, our skilled legal team will guide your through all of the options available to you – making sure you know and understand your rights. Call us at (602) 225-2222 for a free consultation.