Video: What are the most common mistakes I can make when filing for bankruptcy?
It is very important to remember when a person decides to file a bankruptcy proceeding that the bankruptcy petition and the schedules that you will need to file, which are a list of your assets and liabilities, and there's another document called a statement of financial affairs, which is a list of questions that you will have to answer about your past. All of these documents will be signed under penalties of perjury. The most common mistake that a proposed debtor can make is not being honest and candid in preparing those papers. You need to make sure that all of your assets are disclosed and all of your liabilities are disclosed. Failure to complete those papers appropriately can lead to all sorts of trouble in a bankruptcy case.