Bankruptcy Fraud, Unsophisticated Con Artists

By Author: Ryan Thorsen
Total Articles: 1
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Bankruptcy fraud is generally not a very sophisticated crime. It all comes right down to lying. A five year old has the mental ability to commit bankruptcy fraud. Individuals who try to get away with bankruptcy fraud tend to be no more intelligent.It does not matter that the lie is small or large, if the lie effects the administration of the bankruptcy estate, it is a Federal Felony. There has been a crackdown on Bankruptcy Fraud by the Courts. The F.B.I. investigates bankruptcy fraud and violators are regularly prosecuted. Sometimes this statement causes fear in the common debtor. To be very clear, the honest debtor has absolutely nothing to stress about. The bankruptcy Courts and trustees aren't focused on attempting to prosecute an honest debtor for an inadvertent omission. An honest debtor has absolutely nothing to stress about when filing for bankruptcy. Only those people who intend to defraud their creditors through the bankruptcy process should be concerned. Bankruptcy FraUd is often attempted in one of several ways. The most common type of bankruptcy FraUd is just lying concerning the extent of your assets. ...
... Many people attempt to hide most of their assets by giving them to others to own or hold, by transferring property to a family member or attempting to set up an ad-hoc self settled trust. People attempt this in an attempt to prevent the assets that they own from being taken and sold. The belief is that when their debts are forgiven, and once the bankruptcy case is closed, these people simply get their property back from wherever they had it, and they're in much better shape than they were before, even with the mark on their credit. The problem is that the majority sizable assets tend to be found because there is a record of title. It's not a matter of if, it is a matter of when. Bankruptcy FraUd is hurtful to the people who file bankruptcy when they really have to. Individuals who attempt to abuse the bankruptcy process give honest debtors a bad name. Those who are filing in FraUdulent manners are tying up the court system and are tying up the resources that the other people need in order to actually get their debts taken care of. This is detrimental to the whole bankruptcy process and an insult to all of those, the author included, who work in the bankruptcy courts. It also isn't fair to the creditors because if someone files bankruptcy and hides their property, the creditors aren't likely to get everything that has been owed to them and will find themselves out of luck. Stock holders who depend upon corporate performance for a return on their investment suffer. Retired individual investors who depend on their investments for income suffer. Due to the fact that bankruptcy FraUd can be harmful to so many different people, the government must crack down on it and ensure that those caught committing bankruptcy FraUd get punished severely. The bankruptcy courts were designed to and are there to help honest debtors. For that reason, bankruptcy FraUd is very serious, but most of all morally reprehensible. Michael Dye is a Florida bankruptcy attorney serving honest consumer debtors in Broward County, Florida. The office is a federal debt relief agency and assists individual debtors filing for protection under the United States Bankruptcy Code. For more information, please call (954)745-5848 or visit our website by clicking on this link: http://BrowardCountyBankruptcyAttorney.com.