What is the opinion of the group as to what should happen to someone who declares bankruptcy and has assets ?

If someone declares bankruptcy and lies about assets in his or her name, what should happen to that person? Should there be a penalty? Should the person be required to disgorge assets? Should the person be required to pay a fine? What should happen to that person's attorney?

What is the opinion of the group as to what should happen to someone who declares bankruptcy and has assets ?
People can declare bankruptcy with assets. Further they can exempt assets using either the federal or state exemptions. The bankrupt individual only has a duty to disclose. The bankruptcy court determines if the assets should be disgorged. In my state, many assets are excluded from forced disgorgement. Bankruptcy was created by the founding fathers to give debtors a fresh start. A debtor can retain some cash, tools of the trade, a vehicle and any assets with debts that he/she wishes to reaffirm. Other states have different exemptions and the federal exemptions are also unique. What should happen to that person's attorney is unknown. An attorney only knows what the client tells him/her. The attorney has a duty to be honest with the court, but clients do not necessarily tell everything to their attorney.
Reply:It's called perjury and he can be prosecuted and the attorney, if he was party to this can be debarred.
Reply:Of course, it's wrong and punishable by law.
Reply:David, I loved your response. Mildred Michalczyk, Esq. were you paying attention? Know what shoud one do about a lawyer who breaches her attorney-client privledge and engages in conversations with the trustee, divulging privledged information in an attempt to get money which was not rightlfully due her?





Isn' there a duty that lawyer's may never divuluge information about their client? Mildred did you miss that class in law school?
Reply:What if the Lawyer who posted this question is a crazy ,vindictive women, who cannot rest because her ex-client was discharged(twice)! Yes twice after she scammed 3 trustees to reopen and harass her ex-client. Revenge is her middle name. MM you can't touch me anymore in the Bankruptcy Court. You committed Fraud, NOT ME. Find a hobby MM.