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Leaving out a creditor and assets?

What happens if people in a proposal have purposly left creditors and known assets out of their asset sheet?

Fred Alberta

Posted from: Alberta

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One Response to “Leaving out a creditor and assets?”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

You are not allowed to simply leave people out. Legally all creditors must be disclosed to the trustee and listed in the proposal. If you have information that suggests this has happened you should talk to the trustee involved. If this failure to disclose is not rectified it could result in the proposal being null and void.