Because of this, the court will not allow you to pick and choose which debts are worthy of repaying and which are not.
This means you cannot repay the loans you received from family, friends and business partners, while ignoring Macy’s, AmEx and other creditors.
If you fail to disclose all of your debt, the bankruptcy court can dismiss your case. It can also recover any money you repaid up to one year after discharge, and hit you with costly penalties.
Bottom line: Be fair to all of your creditors. Don’t attempt to defraud anyone. Your case will flow smoothly, and you will receive the debt relief you so desperately need.
Got questions about the bankruptcy process? No worries. We have answers. Call 610.734.0750 or use the form below to schedule a private one-on-one consultation with our bankruptcy firm.