Filing for Bankruptcy - Bankruptcy Schedules

(305) 891-4055 - 25 Years of Experience,  Over 8,000 Cases Filed - Free Initial Consultation - 1221 Brickell Ave., Miami, Florida - Chapter 13 and 7 Bankruptcy - Miami Bankruptcy Lawyer - www.bublicklaw.com  Completing Your Bankruptcy Schedules - Disclosure of Property

Disclosure of All Property

In completing your bankruptcy schedules, you must list all of your property. This includes all types of property, whether tangible or intangible.  This also includes property (a.) wherever located -even if it is in another state or country, (b.) another person may be holding for you. (c.) that you may have been given as a gift, (d.) really owned by you, but in the name of another person, (e) of no value.
 
Any failure to list property may subject you to a denial of your bankruptcy discharge and/or other civil and criminal prosecution.  Although it does not happen very often, the bankruptcy trustee has the right to come to your home at any time without notice to take an inventory.  
Rights to Sue/Causes of Action

All actual or potential causes of action you hold at the time of the filing of the bankruptcy case or acquire after the filing of the bankruptcy case (i.e. your right to sue someone for damages, etc. including personal injury claims and employment cases.) must be disclosed as an asset in the bankruptcy schedules. The most common example of such is a personal injury suit. This includes cases presently pending and cases you may decide to bring in the future. If you fail to schedule such causes of action, in addition to the above‑mentioned penalties, you may lose the right to bring (be "estopped") the cause of action against the other party entirely.

 Property in Chapter 7 and Chapter 13  In Chapter 7, the bankruptcy trustee may have the right to take property away from you if it is not exempt from the bankruptcy estate. Chapter 13 involves proposes in plan or reorganization and therefore, the bankruptcy trustee does not have the ability to take property away from you.  Jordan E. Bublick is a Miami Personal Bankruptcy Lawyer with over 25 years of experience in filing chapter 13 and chapter 7 bankruptcies. Miami Personal Bankruptcy Lawyer Jordan E. Bublick has filed over 8,000 chapter 13 and chapter 7 cases.