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Is it possible to be too ethical in a bankruptcy?

asked by blackkshadoww1 (14)

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Tags:  debt  etiquette  legal

answers

Trying to judge ethics in bankruptcy can be difficult for laymen because financial terms have specialized meanings in many cases. It's best to hire a bankruptcy lawyer that you trust and go with their advice. If the lawyer is ethical, his or her advice to you will also be ethical.

7 votes

No, you should always be hoest especially in a bankruptcy. If you are not honest there will be repercussions. You will have it on your conscience and you could very well be in legal trouble down the road. You are asking for relief in bankruptcy and you need to be 100% honest.

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posted by Marsha (2102)
6 votes

Filing bankruptcy is not unethical if it is done when all else fails. "Too ethical" would indicate that perhaps you might pay some creditors but not pay others. To some this might seem ethical but it is actually against the law. When you file you have to include all of your creditors regardless of your concerns about some of them.

6 votes

It is important to be completely honest in any bankruptcy proceeding. Not only is it the moral thing to do, but lies can lead to problems. Your creditors will investigate and are likely to find out about assets you try to hide. If lies are discovered, the bankruptcy will be invalidated.

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posted by John (7911)
4 votes

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