Q: Bankruptsy case closed vs discharge
Can a bankruptsy case that has been closed, be reopened to include debts and assets intentionally left off by attorney and debtor??
Thanks, this is a very helpful law forum.
A:
"Debts and assets intentionally left off".
If it's a Chapter 7 case, and the discharge has been granted, adding the omitted creditors may not expand the coverage of the Discharge to the newly added debts.
The bankruptcy Schedules are signed by a debtor under penalty of perjury. Those Schedules, and the questions within, are designed to disclose ALL assets and ALL debts and claims.
Bottom line-whoever signed those Schedules knowing that not all debts and assets had been listed and disclosed, is now exposed to criminal prosecution for perjury, at $50K per count plus imprisonment.
The attorney involved, depending somewhat upon extent of involvement, may be likewise vulnerable to repercussions, including criminal prosecution, disbarment, etc.
It is NEVER advisable to transform a debt problem to a criminal issue.
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